Millennials are Choosing to Buy Beer Over Health Insurance
The CEO of one major health insurance company, says that young people would rather spend their money on beer instead of health insurance. Many millennials are either still on their parent's insurance plans or freshly aged out of it and using Obamacare for little or nothing.
Healthy young people are suppose to pay in to their insurance plans to help offset the costs of those in older age brackets who are less healthy. However, when they cannot afford to pay for their health insurance, young people are likely to forgo having insurance at all and spend that money on beer for the weekend.
So when millennials don't pay for health insurance, premiums for other people rise. CEO of Aetna, a health insurance company, has actually stopped offering coverage for Obamacare recipients in seventy percent of the counties that it once offered coverage for because young people are not paying in to the program.