By Attorney Nathan Simpson
A recent article by Forbes compares the demographics of those individuals signing up for health insurance under the Affordable Care Act with the enrollment numbers under RomneyCare in Massachusetts. These numbers are important, as a certain number of younger people are required to buy insurance for the business model to be sustainable. It appears that younger people are passing up insurance under Obamacare, just as they did under RomneyCare. Why? In part, it may be due to the limited availability of subsidies for younger individuals.
It remains unclear whether this trend will increase or decrease as the law is further implemented, but there is cause for concern about the long term viability of the Affordable Care Act if younger people do not enroll in larger numbers.
If you would like to learn more about planning for your health care needs in retirements, please contact an Ohio Elder Law Attorney at Cooper, Adel & Associates.