PA’s young adults could see “rate shock” in insurance premiums

(Harrisburg) — A group of central Pennsylvanians could soon be paying a lot more for health care under the Affordable Care Act.

The law limits the amount insurers can charge the elderly by up to three times the amount paid by young adults.

Michael Consedine is the secretary of the state Insurance Department. He says the change could result in so-called “rate shock” for younger Pennsylvanians. “I think there is this continued expectation by consumers that with the full implementation of the Affordable Care Act, they are going to see their rates go down or remain unchanged, and that may be the case with some folks. But ironically, we expect there will be segments of the population that will experience what we’re referring to as ‘rate shock.’”

Consedine says rates would depend on how many young people opt out of coverage, and choose to pay a fine.

The law, which fully takes effect next year, requires all Americans to obtain health care coverage or pay a penalty.

More information on the Affordable Care Act can be found through witf‘s multimedia initiative, Transforming Health.