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Millennials bear the brunt of Obamacare mandate penalties

 (AP Photo/Toby Talbot)

(AP Photo/Toby Talbot)

On Tuesday, federal health officials announced they will be searching the tax records of millennials who paid Obama’s health care penalty for going uninsured, then encouraging them to resist higher penalties put in place this year.

“Insurance companies need robust enrollment of healthy young people to balance the costs of caring for older, sicker adults, who signed up in droves for insurance under so-called Obamacare,” the Associated Press noted. “The overhaul has been a financial drain for many companies entering their fourth year of the law. They’ve repeatedly said they were caught off guard by the condition of initial enrollees, who were sicker and required more services than insurers anticipated.”

Without young, healthy Americans paying for insurance, insurance pools can’t spread out the cost of risk, driving up health care costs for older and sicker Americans. If the federal government can’t corral millennials into its health care plans, it could undermine the structure of Obamacare.

The resistance to health insurance is led by millennials.

“Roughly 12.7 million millennials remain uninsured, compared to 8.6 million in the 35-49 age bracket and 6.5 million uninsured 50-64-year-olds,” the AP noted from data gathered by the Urban Institute.

Government hopes to reach the 20-t0-30-something crowd, reminding them of the additional penalties they will face this year if they remain without health insurance.

“We’ve gotten a lot better at reaching out to young consumers and using messages that we know work,” Joshua Peck, chief marketing officer for the Centers for Medicare and Medicaid Services, told the AP. “The penalty is certainly one of those messages.”

Penalties under the health care reform in 2016 doubled from 2015 — it’s a minimum of $695 for an individual who remains uninsured a full year and does not qualify for exemptions.

“Republicans are vowing to repeal what the law states when they sweep the November elections, departing very little time for that federal government to tweak any weak points within the questionable health law,” Archy Nety observed.

The statistics show a large portion of millennials are still uninsured, which has led health authorities to attempt to persuade them over email and other social media, hoping that the boost in enrollment “will help companies battling financially to balance their risk pools,” Archy Nety noted.

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