Fewer young adults sign up for ACA coverage

Though open enrollment under the Affordable Care Act will close Jan. 31, the number of young adults who have signed up for coverage is still relatively low, according to The Wall Street Journal.

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As of Dec. 26, only 26 percent of people who enrolled in the 38 states that use the federal exchanges were 18 to 34, according to CMS data. In 2014, approximately 28 percent of individuals in that age group signed up.

In 2013, actuaries predicted 18 to 34-year-olds would account for 40 percent of enrollees.

Many are concerned the lack of young, healthy enrollees will cause premiums to rise, since older and sicker individuals would make up the greatest percentage of the exchanges.

Nevertheless, the Obama administration is focused on encouraging young adults to sign up, and federal officials expect to see an increase in the number of young people enrolled, especially when the state exchange numbers are added.

“We’re encouraged that marketplace consumers are increasingly young, engaged and shopping for the best plan,” HHS Secretary Sylvia Burwell said in a statement Jan. 7, according to the report.

More articles on payer issues:
What Aetna’s departure from AHIP could mean
How this year’s mild winter is helping insurers, harming hospitals
Health insurers in the news: Dec. 18-Jan. 7

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