Friday, June 8, 2012

Record Number of Young Adults Covered Through Affordable Care Act

Posted By on Fri, Jun 8, 2012 at 9:27 AM

While the nation awaits a decision regarding the Affordable Care Act to be handed down from the U.S. Supreme Court, a new survey reveals that 6.6 million young adults joined their parent's insurance plan in 2011 under the ACA.

The study, crafted by the nonprofit Commonwealth Fund, revealed that the increase of coverage for young men and women under age 26 was the largest one-year increase since tracking began. Analysts said the growing number of young adults coming under their parents' medical coverage umbrella shadowed high unemployment rates, which indicate that 16.1 percent of 16- to 24-year-olds are jobless.

“The economy is absolutely a factor in both the large number of adults who are without health insurance and likely the number coming onto their parents’ policies,” Sara Collins of the Commonwealth Fund told Bloomberg News. "The health law came at a really good time for young adults, in terms of the poor job market.”

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