By: Anonymous

Anonymous
Fri, 27 Mar 2015 05:26:12 +0000

Before Obamacare (according to the American Economic Journal - Feb 2011), SOME insurance companies would only extend coverage beyond age 20 for FULL time students. If you were 20 y.o.: 35% were covered through parents; 25% were covered under their own plan (which included being forced to buy a policy through the college/university they attended); 15% were covered under public aid; and 25% were uninsured. This last group - the uninsured would increase to 32% by the time they were 22 y.o. (Based on data from 2000-2008) That means that almost 1/3 of 22 y.o. had NO insurance. So in addition to being unemployed or under-employed due to the recession, they had no medical insurance coverage. If they couldn't pay their medical bills, hospitals just passed those losses onto those who could pay. Having medical insurance is a good thing for everyone. Especially because it's the only way to get the insurance contract "discounts" that lower your bill.