WASHINGTON, Jan. 30, 2013 /PRNewswire-USNewswire/ — SHOUTAmerica, a non-profit organization focusing on the healthcare issues affecting young Americans, has unveiled a new calculator to help estimate costs of the looming health insurance rate hike that could soon hit many younger Americans.
The SHOUTAmerica calculator is now available online at http://youngforaffordability.org/.
The new SHOUTAmerica calculator is designed to help young Americans who purchase individual policies estimate the cost of their health insurance in 2014 – based on their age, income, where they live, and other variables – and also identifies whether they are eligible for other coverage options in the individual market. The tool demonstrates potential increases in individual market insurance premiums, which could spike by as much as 42 percent or more. SHOUTAmerica believes this will discourage younger individuals from participating in the system.
Beginning on January 1, 2014, new federal rules on how health plans price their coverage, including changes in how policies are priced for younger and older people (i.e., the 3:1 age rating requirement), broader benefit packages, health insurance taxes and other changes will cause insurance premiums to increase dramatically for younger, healthier Americans.