New Bill Would Make Coverage More Affordable For Nearly 8 Million Young People
The bicameral Advancing Youth Enrollment (AYE) Act would increase financial assistance for young people and stabilize insurance markets.
Today, Senator Tammy Baldwin (WI) and Congressman Donald McEachin (VA-4) introduced the Advancing Youth Enrollment (AYE) Act in the U.S. Senate and the U.S. House of Representatives, respectively. This bill would create enhanced Affordable Care Act (ACA) premium tax credits for young people ages 18-34. By lowering the cost of coverage for young people, the AYE Act would make coverage more accessible for the nation’s most uninsured age group.
A new Young Invincibles analysis of American Community Survey data estimates that nearly 8 million people ages 18-34 would receive increased financial assistance as a result of the AYE Act, including 5 million currently uninsured young people. Under the AYE Act, a typical uninsured young adult would see their costs drop by $500 a year for a silver-level plan.
“We are thrilled to see a bill in Congress addressing a real issue we hear about from young people every day: cost,” said Erin Hemlin, Health Policy and Advocacy Director at Young Invincibles. “Unfortunately, the current Administration has instead focused on trying to force young people into junk plans or take away coverage altogether. Despite these efforts, young people have seen their uninsured rate cut in half since the Affordable Care Act became law, and it’s time to build on that progress.
A concerted effort to boost young adult enrollment can help everyone. It can reduce the uninsured rate for young adults, reduce premiums for both the young and old by bringing more people into the individual market, and fight back against skimpy junk plans that target young adults. The AYE Act is a common sense, cost-efficient solution to improve affordability and strengthen the ACA individual market, and we hope Congress will act quickly to take up this bill.
We commend Senator Baldwin and Congressman McEachin for fighting tirelessly for increased coverage for young people and recognizing the critical role that young adults’ access to quality, affordable health insurance plays in keeping our country healthy and stabilizing the market.”