…insurance costs are soaring for the young. In 45 states and Washington, D.C., young adults will find that their premiums have risen since Obamacare’s implementation, according to an October study by the conservative Heritage Foundation. And in most states, we’re not talking about the kind of slight increases that could be offset by forgoing a couple of lattes a month. Instead, these increases are enough to make young adults squeeze in another roommate — or maybe even move back in with Mom and Dad.
Obamacare requires better coverage than in the past, which also explains the higher premium. But young adults don’t need the added costs. In Arizona, the average monthly premium for a 27-year-old is expected to soar to $261.87 a month, up from $102. It’s the same story in other states, including Georgia (where monthly premiums are increasing by $165), Illinois ($133), Michigan ($138) and Vermont ($216).
Yes We Can…