WASHINGTON – A comprehensive review has found that young people will see the largest increases to their health insurance premiums and insurance costs will go up in all but fives states for which data is available.
Enrollment in the Affordable Care Act’s (ACA) insurance exchanges has proven to be a somewhat daunting process amidst technical glitches and delays. A recent report says once individuals are able to get a quote for health insurance on an exchange, they might experience “sticker shock.”
Heritage Foundation analyst Drew Gonshorowski’s research showed that for most states premiums are higher compared to what was previously available before the rollout of the exchanges. For example, in the state of Oklahoma premiums increased by 60 percent for 27 year olds. Meanwhile, premiums have gone up by 175 percent for similarly aged Americans living in Arkansas. In the state of Texas, increases are even greater as premiums doubled for 27 year olds.
Gonshorowski’s analysis shows the hardest hit by the rate increases will be young adults. The ACA increases premiums for young people in at least 11 states by more than 100 percent. Many states double or nearly triple premiums for young adults. Arizona, Arkansas, Georgia, Kansas, and Vermont see some of the largest increases in premiums in the nation.
“A state that exhibits this clearly is Vermont, where the increase for 27 year olds is 144 percent and the increase for 50 year olds is still 60 percent, but far less,” he writes. “All states exhibit this relationship.”