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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (242736)	3/30/2010 1:13:41 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

Nils, pay the penalty dood....$750/year is much lower than $1800/yr (even for a musician!<G>) news.yahoo.com Health premiums could rise 17 pct for young adults By CARLA K. JOHNSON, AP Medical Writer Carla K. Johnson, Ap Medical Writer Mon Mar 29, 8:47 pm ET .CHICAGO – Under the health care overhaul, young adults who buy their own insurance will carry a heavier burden of the medical costs of older Americans — a shift expected to raise insurance premiums for young people when the plan takes full effect. Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That's when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press. The analysis did not factor in tax credits to help offset the increase. The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers with the highest unemployment rate in 26 years. Consider 24-year-old Nils Higdon. The self-employed percussionist and part-time teacher in Chicago pays $140 each month for health insurance. But he's healthy and so far hasn't needed it. The law relies on Higdon and other young adults to shoulder more of the financial load in new health insurance risk pools. So under the new system, Higdon could expect to pay $300 to $500 a year more. Depending on his income, he might also qualify for tax credits. At issue is the insurance industry's practice of charging more for older customers, who are the costliest to insure. The new law restricts how much insurers can raise premium costs based on age alone. Insurers typically charge six or seven times as much to older customers as to younger ones in states with no restrictions. The new law limits the ratio to 3-to-1, meaning a 50-year-old could be charged only three times as much as a 20-year-old.