More than 4.2 million people selected health plans through the Patient Protection and Affordable Care Act marketplaces from Oct. 1 through March 1, according to HHS.
That figure includes 1.6 million who enrolled through the state-based exchanges and 2.6 million who got coverage through the federal marketplace. Thirty-one percent of those enrollees are 34 or younger, and 25 percent are between the ages of 18 and 34.
In February, 942,833 people selected plans, down from 1.1 million in January. Of those who enrolled last month, 27 percent were between 18 and 34, on par with January.
Getting enough young, healthy people to sign up for coverage to offset the higher claims costs of older, sicker enrollees has become a focal point for policymakers and the healthcare industry as essential to the PPACA's success. Recently, in an effort to get young Americans to visit HealthCare.gov, President Barack Obama appeared on "Between Two Ferns," a show hosted by actor Zach Galifianakis for the comedy website "Funny or Die."
Without an adequate amount of "young invincible" enrollees, the total amount of premiums health insurers collect for exchange plans will be less than the total healthcare expenses of exchange enrollees, and insurance companies could increase premiums to compensate.
However, a report from the Kaiser Family Foundation found a premium "death spiral" is unlikely to occur and insurers can still expect to earn profits even if only 25 percent of exchange enrollees are young adults. A report released by The Commonwealth Fund last month concluded young adult participation in the exchanges isn't the most important factor when it comes to the success of the exchanges; federal officials, health insurance actuaries, researchers and health plan representatives told the Fund health status is the most significant characteristic.
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