The plan was – and still is – they need huge support from the young crowd who do not have employer-sponsored health insurance to buy into the state or federal exchanges. The goal for the first year was to have 2.8 million enrolled (out of 11.4 million), but total signups are only at 1.1 million through the end of February.
Numbers unexpectedly lower than expected. ;)
Data through five months of the open-enrollment period show that slightly fewer than 10% of eligible 18- to 34-year-olds have signed up for coverage. Among young men, roughly 1 in 12 has signed up.
The Kaiser Family Foundation puts the ObamaCare-eligible population at 28.6 million, with 40%, or about 11.4 million, in the 18-to-34 age group.
Compared to the size of the potential market, the first-year target of 7 million enrollees, including about 2.8 million young adults, was relatively modest.
Yet it’s now clear that the initial target is well out of reach. The Avalere Health consultancy projected that sign-ups — paid and unpaid — will end March at around 5.4 million.
Through February, not quite 1.1 million young adults had selected an exchange plan. Among this group, the male-female breakdown was about 45% vs. 55%. That matters because women at child-rearing age are more likely to run up big medical bills.
How important is it for the Obama administration and Democrats to get young people enrolled into a plan? It’s kind of obvious, just look at all of the marketing they are forking out millions to produce! I’m not seeing any ads targeting the 47 to 67 age group. That group doesn’t know what Funny or Die even is.
The exchanges charge the young – and presumably more healthy – higher premiums to offset the higher costs to care for older people. The entire plan is a money redistribution scheme. Sure, private insurance companies do something similar, but this is the government mandating you buy. Totally different equation. The Democrats thought the good young people would be more than willing to pay up now – for government-sponsored benefits later – since it is the “right thing to do.” A lot of young people agreed – saying it would be totally fab – until it came to the “day of revelation” … when they had to sign up and actually cut the check.