The Obama administration released a report Monday evening saying that half of single, uninsured adults will be able to purchase coverage for under $50 a month under Obamacare.
More than 1 million single adults between the ages of 18 and 35 will be able to purchase the lowest cost bronze plan on the new insurance exchanges for under $50, the report from the Health and Human Services agency says. That’s about 46 percent of uninsured young adults in the 34 states that provided information to the agency. An additional 1 million single, uninsured young adults would qualify for Medicaid in these states, due to the expansion of the program.
The Obama administration released the findings the same day NBC News reported that 50 to 75 percent of people who currently buy health insurance on individual markets will receive a cancellation letter within the year because their plans do not meet new standards in the health care reform law. Some of those consumers will face higher costs when theyRead More »from White House: Half of young adults can get coverage for $50