Young people: Will Obamacare help or hurt you?

It used to be that finding insurance and paying for it was a rite of passage once you grabbed that diploma.

Now, the Affordable Care Act, also known as Obamacare, is changing up the rules.

Nate Krug kept his focus on sports for most of his life.

But it was it was his time on the baseball diamond that left him with an injury.

“Just recently I was told I have a torn labrum in my shoulder so I got to get that fixed now too,” he said

“The surgery total with doctor visits I think it’s going to cost around $500 but then I gotta go to physical therapy.”

Previously, his insurance coverage through his parents would've been tossed away once he finished college.

“I was able to stay on my parents insurance until age 26 because of Obamacare.”

It's a major change through the Affordable Care Act.

Young people like Nate can be covered through their parents insurance even if they are married, no longer financially dependent on their parents or not living with their parents.

Nate's part-time status at work doesn't qualify him for healthcare. So, without the Affodable Care Act - he would've been left with a hefty medical bill.

“I would've been bankrupt, I wouldn't have been able to survive. I don't know. I honestly wouldn't be able to tell you what I would be thinking. It would be atrocious how much it would cost. It would probably be $15,000.”

When April 2015 rolls around, he'll have to take a swing at finding his own coverage.

The health insurance exchange does offer up options for younger americans.

A 26-year-old making around $20,000 a year, living in South Bend would pay $227 for a bronze plan, with $162 in assistance from the government -- bringing monthly payments to $65 each.

But that plan does come with higher out-of-pocket costs and a $3,500 deductible.

That's why there are also catastrophic plans available for young Americans.

And full disclosure, Nate is a part-time employee at WNDU.

There is a trade-off for young Americans.

They may be paying more than in the past because the insurance marketplace prohibits companies from charging older people in their 60's very high rates for coverage.

So the expense of more robust coverage is spread around to all ages and health levels.


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