Did You Know?
-There are 6.1 million uninsured young adults, ages 19 to 25, who have gained health insurance coverage because of the Affordable Care Act.
-Approximately 2.3 million young adults gained coverage from 2010 through the start of Open Enrollment in October 2013 due to the provision that allows people under age 26 to stay on their parents’ plan.
-An additional 3.8 million young adults gained coverage between October 2013 and early 2016.
-Up to 30 million 18 to 34 year olds with a pre-existing condition, can no longer be charged higher premiums or denied coverage altogether under the Affordable Care Act.
-Between 2010 and the first quarter of 2014, the rate of uninsured individuals between the ages of 19 to 25 fell by 13.2 percentage points, a nearly 40 percent decline. [1]
#1 Myth About Health Insurance
Insurers OPPOSE health care reform[3].
FACT: The statement above is FALSE. You’d be hard pressed to find a health insurance company that believes we can or should maintain the status quo in health care. It is universally agreed that the traditional health care model is unsustainable for families, doctors, insurance companies and our overall economy. The system just doesn’t provide consumers with enough value for their money.[3]
Why do I need to buy health insurance?
No one plans to get sick or hurt, but most people need medical care at some point. Health insurance covers these costs and offers many other important benefits.
- Covers essential health benefits critical to maintaining your health and treating illness and accidents.
- Protects you from unexpected, high medical costs.
- Pay less for covered in-network health care, even before you meet your deductible.
- You get free preventative care, like vaccines, screenings, and some check-ups, even before you meet your deductible.
- If you have a Marketplace plan or other qualifying health coverage, you don’t have to pay the penalty that people without coverage must pay.[2]
Health Care Terms to Know
Essential Health Benefits includes outpatient care, emergency services, hospitalization, maternity and childbirth care, mental health services, prescription drugs, rehabilitative services and devices, laboratory services, preventive and wellness services, birth control, dental and vision coverage [4]
Deductible – money the individual pays for covered health care services before the insurance company pays anything. For example, if you have a $500 deductible, you must pay the first $500 of covered services. [5]
Health Insurance Marketplace – also known as the “Marketplace” or “exchange.” It assists individuals looking to purchase and obtain reasonably priced health insurance. [6]