Gen X and Healthcare Reform

By Thomas Cazneau

So, who are the “Generation Xers” and what do they expect from Healthcare Reform? Generally, these are those who were born between the early 1960’s to the early 1980’s. That would make them age 30-something to 50’ish today. Reports vary on what this generation looks like:
● According to The Social Librarian, “This was the first generation of ‘latchkey’ kids, exposed to lots of daycare and divorce… Gen X is often characterized by high levels of skepticism, ‘what’s in it for me’ attitudes… Gen Xers are arguably the best educated generation… (but) concerns run high over avoiding broken homes… and financial planning”.
● In contrast, CNN.Living reports that “Generation X is active, balanced and happy… a generation of technologically savvy, and adventurous pragmatists”.
● Finally, Forbes says that of all the generations, Gen X is experiencing the most financial hardship.

So, what do Gen Xers expect from Healthcare Reform? Probably, the same thing that everyone else does: affordable medical care! See how Gen X is currently affected by health insurance, and how Healthcare Reform will affect them in 2014.

How Gen X is Currently Affected by Healthcare Reform
Like all others in the U.S., those in Gen X can be declined for private coverage if they have serious, chronic, or recurring medical conditions. This may not be a big deal for Gen Xers who are relatively healthy or who are eligible for health benefits through work. However, with mid-age setting in, many start to think, “Gosh, I haven’t seen my doctor in ages. Maybe I should get a physical.” And by age fifty many doctors recommend a colonoscopy. With that said, preventative care becomes even more crucial to catch things early to insure longevity of life.

How Healthcare Reform will affect Gen X in 2014
● No Denials
At the turn of the year, health insurance carriers can no longer deny someone health insurance based on pre-existing conditions. Gen Xers who couldn’t formerly be covered on an individual plan would now be able to enroll onto their own private plan without the possibility of being declined coverage because of their health history.
● More Options
Many in Gen X could have several health insurance options available to them. For example, they could enroll on a private health plan through the Exchange or directly with the carrier. And if their employer provides health benefits, they could also qualify for group health insurance.
● Potentially Lower Premiums
2014 Premiums will be based predominantly on a person’s gross annual income. Should a Gen Xer be unemployed or low income, they could be eligible for government subsidies through the Exchange or Medicaid/Medi-Cal, if they meet the income requirements.

For more information on the health insurance options available to you, please contact us at 1-800-514-0958. We would be happy to assist you.

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