Regina Jackson has learned that bumps and bruises can cause pain to her wallet.
The University of North Georgia senior jammed her foot while working a part-time job off campus. A $500 upfront medical bill added financial insult to her injury.
“It’s been quite an adjustment,” said Jackson, 27, who was removed from her parents’ health insurance last year. “The doctor used to be the first option when I had insurance; now it’s not. If I get sick or I’m not feeling well, it’s pay out of pocket.”
Such out-of-pocket expenses are putting health care out of reach for an estimated 19 million uninsured young adults (aged 19-29) such as Jackson. With premiums as high as $800 to $1000 a month, private and self-pay insurance coverage has often eluded this segment of the market.
A growing number of institutions such as Duke University and Auburn University provide student health insurance plans. Health insurers such as United Healthcare also offer student health plans that can continue after college days are gone.
In 2010, the Affordable Care Act required that health plans cover young adults until age 26 on their parents’ plan. An estimated 15 million young adults enrolled on their parents’ plan, according to the Commonwealth Fund. Now, beginning October 1, the ACA will expand coverage options for uninsured Americans. Consumers can compare health plans through their state’s Health Insurance Marketplace and find out whether they are eligible for tax credits/subsidies to defray the cost of premiums. Individuals with an income of less than four times the official poverty level, or $45,960 for individuals and families of four with an income less than $94,200 are eligible.
