Fox News proposed that uninsured young adults should reject coverage under the Affordable Care Act (ACA) because they can gain it at any point after an accident to cover medical expenses -- irresponsible advice that could wreak havoc on millennials' financial futures.
Gretchen Carlson hosted Fox contributor Guy Benson on the October 11 edition of her new daytime program The Real Story with Gretchen Carlson to discuss whether young adults will sign up for health coverage on the exchanges. The two repeatedly suggested that "healthy" millennials may pay for coverage "they are not going to need," going so far as to suggest it would be more fiscally responsible for young adults to go uninsured until a major trauma occurs:
BENSON: If they say, 'forget it I'm going to wait, pay the relatively cheap tax and then if I get sick and if I get into an accident, then the insurers have to take me because I have a pre-existing condition,' it just makes more sense to do that --
CARLSON: You just brought it full circle for us.
BENSON: -- from a dollars and cents perspective. I'm not trying to make a political point there, I'm trying to make an economic point. And a lot of people are realizing that.
Benson's advice is not only wrong, it's dangerous.
While insurers are required to cover people with pre-existing health conditions under the ACA, coverage isn't available all the time. Those seeking insurance through the exchanges can sign up only during the open enrollment period, which starting next year will run from approximately October 15 -- December 7 annually. Exceptions are made for qualifying life events like marriage or birth of child -- not for sudden illnesses or accidents.
Young adults who opt out of coverage will be responsible for the full costs of these events. And when the average hospital stay or treatment for a broken leg is approximately $10,000 without insurance, footing the bill would likely be unaffordable.
It's not just Fox doling out this irresponsible advice to millennials -- conservative activist groups with ties to the billionaire Koch brothers have been running ads to scare young adults away from gaining coverage. At the same time, Fox has actively avoided acknowledging that many young adults are in fact eager to buy health insurance under new ACA provisions.