A report published yesterday by The Colorado Trust found that 28.7% of young adults (ages 19-29) in Colorado do not have health insurance. That means that 232,000 of Colorado’s 808,000 young adults are uninsured, which is the highest rate of uninsureds among any age group. The number of uninsured in this age bracket has risen dramatically over the past two years from 21.8%, according to an earlier study.
This survey is administered every other year via a random sample telephone survey of more than 10,000 households across the state.
Some of the other findings from this study:
- Nearly half of young Hispanic adults being uninsured, compared to approximately one-quarter of young white adults.
- About 26 percent of urban young adults lack health coverage, compared to 43 percent of rural young adults.
Previous thinking has attributed the lack of insurance among youth to a feeling of “not needing it” because they’re mostly healthy – sometimes called the “young invincibles” phenomenon. But, this year’s survey found that the number one reason was cost. And, that’s likely to not improve under Obamacare. A recent study published by the U.S. House Committee on Energy and Commerce and the Senate Committees on Finance and on Health, Education, Labor & Pensions earlier this month, premiums in Colorado are scheduled to rise a whopping 19% to 41% next year.
That young adults are buckling under the rising insurance premiums should come as no surprise. The Heritage Foundation in June 2012 examined five ways in which Obamacare would harm young adults, chief among the ways were premium increases.
Under Obamacare, young adults will pay artificially high premiums, and older adults will pay artificially low premiums. Nationwide, it’s estimated that “the effect will be to increase premiums for those ages 18–24 by 45 percent and those ages 25–29 by 35 percent while decreasing premiums for those ages 55–59 by 12 percent and those ages 60–64 by 13 percent.”
According to exit polling, Obama captured 60% of the youth vote. One has to wonder if they’re feeling like Obama still best represents them.