GITNUX MARKETDATA REPORT 2024
Parental Insurance Coverage Duration Statistics
Parental insurance coverage duration statistics vary, but on average most policies provide coverage for 12 weeks following the birth or adoption of a child.
With sources from: cbo.gov, kff.org, cdc.gov, ncbi.nlm.nih.gov and many more
Sources
In this post, we explore a range of statistics related to parental insurance coverage duration for young adults in the United States. From the percentage of young adults on parental insurance to the impact of the Affordable Care Act (ACA) provision, these statistics shed light on the dynamics of healthcare coverage for this demographic group.
Statistic 1
"75% of adults believed that children should be covered under parental insurance until age 26,"
Statistic 2
"A survey found that 31% of young adults aged 19-25 in the U.S stayed on or joined a parent's health plan in the first year after the ACA's dependent-coverage provision took effect,"
Statistic 3
"45% of 19 to 26-year-olds were on a parent's insurance policy in 2018, compared to 24% in 2010,"
Statistic 4
"25% of unmarried young adults ages 19 to 26 were insured as dependents on their parents’ employer-based insurance in 2009,"
Statistic 5
"Young adults aged 18-24 are less likely than older adults to have employer-sponsored health insurance: 24.1% compared to 43.9%,"
Statistic 6
"An estimated 5% drop in the uninsured rate among young adults aged 19–25 was observed from the implementation of the ACA provision,"
Statistic 7
"Approximately 30% of young adults are covered under parental insurance due to extended eligibility up to 26 years old,"
Statistic 8
"35% of young adults who were covered by their parents’ health insurance reported better mental health,"
Statistic 9
"Research found that the ACA's dependent-coverage provision reduced out-of-pocket healthcare expenditures for young adults aged 19-25 by 12%,"
Statistic 10
"61% of young adults aged 19–25 had health insurance for all of 2010, but this increased to 72% in 2016, after the ACA’s dependent-coverage provision took effect,"
Statistic 11
"In 2016, about 6.1 million young adults (19–25 years) in the United States gained insurance coverage because of the ACA provision,"
Statistic 12
"The percent of uninsured non-elderly adults age 26-34 was 21% in 2016,"
Statistic 13
"It is projected that by 2027, employment-based coverage will cover approximately 159 million nonelderly people,"
Statistic 14
"The average duration of parental insurance coverage for young adults is 1.6 years,"
Interpretation
The statistics provided reveal a growing trend in parental insurance coverage for young adults in the United States, particularly following the implementation of the ACA's dependent-coverage provision. The data shows that a significant percentage of young adults aged 19-25 have benefitted from staying on or joining their parent's health plan, resulting in improved access to healthcare and better mental health outcomes. The increase in insurance coverage among this demographic has also led to a notable drop in the uninsured rate and reduced out-of-pocket expenditures. These findings underscore the importance of extended eligibility for parental insurance up to age 26 and highlight the positive impact it has had on the healthcare landscape for young adults in recent years.
Jannik Lindner
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