Rick Young Insurance’s Blog

Western Michigan University stops offering health insurance for students

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KALAMAZOO, MI — Western Michigan University has dropped its sponsored health insurance for students. About 1,000 students enrolled in the plan last year, but many of them had walked away from the plan by no longer paying the premium, WMU spokeswoman Cheryl Roland said. WMU stopped offering the student health insurance through Aetna on Aug. 23. … More

The Cost Of Over Insurance: National Health Expenditures Rising Again

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The Centers for Medicare & Medicaid Services have released their estimates of national health spending for 2014 through 2024. “Health spending growth in the United States is projected to average 5.8 percent for 2014-24, reflecting the Affordable Care Act’s (ACA) coverage expansions, faster economic growth and population aging. Recent historically low growth rates in the … More

6.6M paid ACA Penalty For Going Without Insurance.

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Bloomberg News reports that 6.6 million taxpayers “paid a penalty imposed for the first time this year for not having health insurance, about 10 percent more than the Obama administration had estimated.” According to a report from the National Taxpayer Advocate at the Internal Revenue Services, the average penalty was $190. The report also found … More

Small Study: Young Adults Concerned About Health Insurance Costs.

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Reuters reports that a small study suggests that while many young adults are concerned about the cost of health insurance, they often don’t understand out-of-pocket costs and how they can add up. The young adults who participated in the study saw paying for coverage as the main disadvantage of buying insurance, but nearly half of … More

Study: 40% of ACA Silver Plans Have Narrow Networks.

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The Washington Post reports the 40 percent of “silver” plans sold on the ACA exchanges “sold on insurance exchanges offer consumers only a limited choice of doctors, in some cases less then 10 percent of physicians practicing in the area, according to research released Wednesday” by the Robert Wood Johnson Foundations. These narrow network plans … More

Many Uninsured Americans Forgo Coverage by Choice, Puzzling ACA Supporters

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In a front page story, the Wall Street Journal profiles several Americans who, despite the availability of affordable health insurance under the ACA, prefer to remain uninsured and get medical care through cash, barter, and charity. According to the Journal, the health law’s supporters are at a loss to explain why up to 45 percent … More

Supreme Court Upholds Obamacare Subsidies by 6-3 Vote

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Obamacare has survived — again. In a major win for the Obama administration, the Supreme Court held in a 6-3 decision that the Affordable Care Act authorized federal tax credits for eligible Americans living not only in states with their own exchanges but also in the 34 states with federal exchanges. Chief Justice John Roberts … More

Shrink Obamacare’s Costs by Removing Rule Driving up Young People’s Premiums

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The decision on King v. Burwell will determine whether tax credits being paid in 34 states without their own exchanges are legal. If the Supreme Court makes the administration follow the letter of the law, billions of dollars of federal tax credits will continue to flow to 16 states, but not the rest. This will … More

What Are Unfunded Mandates Costing the States?

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Since President Obama took office, his regulators have added $35 billion in unfunded regulatory costs and at least 75 million paperwork burden hours on state and local governments. Regulation of industries or businesses tends to receive a majority of the coverage, but the mandates placed on cash-strapped states and local governments can result in far … More

Millions of People Still Unable to Afford Health Care

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While the Affordable Care Act has succeeded in slicing down the uninsured rate to historic lows, many Americans still cannot afford health coverage and are delaying medical treatment. many of these people rely heavily on community health centers — exclusively designed for uninsured people and those with coverage through Medicaid. The federal government undsd the … More