Wanted: 18 -35 year olds. Kind of sounds like a recruitment push from the US Military but instead it’s an enrollment push from another aspect of the government.
Will The ‘Young Invincibles’ Join Obamacare?
It’s no exaggeration to say that if young people don’t show up to the insurance exchanges in the next few months, the Affordable Care Act probably won’t survive. Young, healthy people paying more than they have previously — either because they are buying more expensive insurance or because they are buying insurance for the first time — are the financing mechanism that makes Obamacare’s insurance markets work. The administration estimates that a little over a third of the people on the exchanges need to be in the 18-to-35 range to hold premiums down to reasonable levels.
Insurance is a game of averages and some plan enrollees are going to cost more to cover than their premium payments and some will cost less. Those who cost less help to pay for those who cost more. For the insurance exchanges to work, young, healthy people need to enroll because they are more likely to consume less health care services than they’re paying for and for them insurance truly is “insurance”. For the young healthy enrollees the insurance they are purchasing will prevent them from having to pay for a catastrophic event such as injuries and hospitalization resulting from an auto accident.
How do you get someone who knows he or she is in good health and unlikely to need insurance to actually buy it? The trick will be helping them realize that insurance is insurance and it will help “ensure” their financial stability…I’m glad I’m not selling the products it seems it might be easier to sell ice to Eskimo’s.