The new measure which allows young adults to get insurance cover until the age of 26 will increase premiums by 1%, according to a report released by the Government.
This will be started for all plans beginning from September 23 or after. These changes are being awaited keenly. Most of the insurers have already started offering this option to the families.
An estimate by leading insurance companies had revealed that the overall hikes will reach around 7% for the year 2011 after factoring other increases. The coverage for a family is around $13,400 every year. It is the total amount paid by the employer as well as the worker. The new regulations will treat young adults at par with others and they will be getting the same kind of benefits as others.
The people who are self-employed bought an insurance cover for their family directly from an insurer. These people will be paying $2,360 more in 2011 on an average after these changes are implemented.
Around 170 million American people currently get insurance coverage through their employers. These moves are being appreciated by consumer advocates and health activists who feel that increased coverage will be beneficial for the people. It is also being felt that it will lead to improvement in health standards across the country.
Currently around 30% of young adults are not insured and they represent the biggest group. They represent 20% of the overall population without any health cover.