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Youth

Health Insurance Reform Brings Relief to Young Adults and Families

Strategic Insights

— 1 min read

As part of the recently signed health insurance reform legislation, a growing number of insurance companies are voluntarily providing coverage to graduating college seniors and young adults under the age of 26. This move is seen as a positive step towards bridging the gap in coverage between now and the Fall, when the under-age-26 provision becomes effective. U.S. Rep. Ruben Hinojosa (TX-15) commends these insurance companies for their willingness to fill the gap, emphasizing the importance of providing relief to families with adult children who are graduating from college.

Key Takeaways:

  • Five major health insurance companies, including Blue Cross Blue Shield, Humana, and Kaiser Permanente, have announced that they will voluntarily provide coverage to young adults under the age of 26, effective immediately.
  • This move is seen as a major step in the right direction, with 47% of young adults age 19 to 24 having gone without health insurance at some point last year.
  • The health insurance reform legislation requires health plans to allow young people up to their 26th birthday to remain on their parents' insurance policy, at the parents' discretion.
  • HHS Secretary Kathleen Sebelius has sent a letter to other insurance companies offering to work with them on this issue, encouraging other companies to follow suit.
  • The new law is expected to bring greater access to more affordable coverage, greater accountability to the insurance industry, and greater stability and security for seniors, students, workers, and entrepreneurs and small business owners.
  • U.S. Rep. Ruben Hinojosa (TX-15) praises the insurance companies for their willingness to bridge the gap in coverage, stating that this is great news for families with adult children who are graduating from college.

Statistics:

  • 47% of young adults age 19 to 24 went without health insurance at some point last year.
  • Five major health insurance companies (Blue Cross Blue Shield, Humana, and Kaiser Permanente, in addition to WellPoint and United Healthcare) are voluntarily providing coverage to young adults under the age of 26.
  • The new law will provide relief to approximately 4.5 million young adults who are currently uninsured.

Sources:

  • Hinojosa, R. U.S. Rep. (TX-15). (2022). Press release announcing voluntary coverage for young adults. Retrieved from [Source URL not specified]

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