Monday, September 14, 2009

How Much Should Older Americans Pay for Insurance?

Posted by Ahmed Al-Salem

How Much Should Older Americans Pay for Insurance?

Should older people pay more for health insurance than younger people, and if so, how much more?

The issue has long been on the radar of health policy analysts and consumer advocates weighing the fairness and affordability of health care costs. But it’s likely to receive more scrutiny now. The health reform “framework” put forward by the Senate Finance Committee’s chairman, Max Baucus, Democrat of Montana, proposed a new standard that would permit older people to be charged significantly higher premiums than would be the case under any of the other health care reform bills.

Under Senator Baucus’s plan, insurers would be permitted to charge older people five times more for their health insurance premiums than younger people. That proposal, first circulated in a Finance Committee policy options paper last spring, is a significant departure from the approaches put forth by three House committees and the Senate Health, Education, Labor and Pensions Committee. Those bills would only allow insurers to charge older people twice as much as younger ones.

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  1. This is currently a big topic that the Obama administration is trying to tackle. I believe that health insurance should be a little higher if you are older, only because older people see doctors more often than the younger generations. – David Held

  2. I don't know about you, but I only pay a dollar for my insurance! haha. Its a pretty good deal in my opinion. What do you think we could expect as payments when we have universal health care? I know higher taxes, but, by how much do you think? If you don't have life insurance, click on my name, thats a real good site. You can't be charging people who carried the country for at least the last 20 years five times more for health care! That is just beyond sickening! I will pray for this country.