With about 20 million people in their twenties without health insurance plans, legislators are constructing a bill specifically for them. The “young invincible,” as twenty-somethings are called, will help keep the overall risk of the insurance companies low.
Here are some details of the healthcare reform bill aimed specifically at the younger generation.
- Special policies will be offered. Specifically, there is a push for a catastrophic insurance policy with a low monthly payment and a possible $5,950 tax deduction. This will be offered through state programs for young ones who don’t qualify for Medicare, and have no job-related healthcare coverage. Qualified low-income households will also qualify for these plans. The monthly payments will be from $100 to $140 a month.
There will be penalties, as usual. As with the main healthcare reform bill, a penalty will start be enforced starting 2014. The amount will be $95 or 1% of income, whichever is higher. By 2016, the penalty will jump to $695 or 2.5% of income.
There are additional details being pushed. The following are being pushed for inclusion in the bill: three primary care visits in a year, one emergency room visit, an optional prescription drug offer and the option for young pregnant women to seek a more comprehensive health plan.
Make or break
Given that this generation will be the future of the healthcare reform bill (literally), many people find that the proposed new measures are going to be very important in defining health insurance plans for this demographic. Even though they may end up paying more at first, they will ultimately be the ones who will grow up with the bill’s provisions.
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