Today, Rep. Joe Baca (D-Rialto) announced that the recently enacted health and student loan reform legislation has significant and immediate benefits for young adult Americans.
"This new health and student loan reform that Congress passed and the President signed into law will improve the lives of young adults here in the Inland Empire and across the nation," said Rep. Baca. "Not only does this reform increase the value of Pell Grants and lower the interest rates on need-based student loans, but it also allows young adults to stay on their parents' health insurance plans until the age of 26 - and guarantees younger people a choice of competitive insurance prices and plans through the competition of Health Insurance Exchanges."
This health and student reform legislation, which passed the House and Senate last month and was signed into law by the President shortly thereafter, will provide health coverage to 31 million Americans who are currently uninsured. The reform also makes health care more affordable for everyone and finally holds insurance companies accountable, stopping their worst practices like denying coverage because of pre-existing conditions, dropping coverage when patients get sick, and arbitrarily hiking premiums. Health reform also closes the Medicare donut hole, so seniors will be able to afford the medications they need. It also gives small businesses access to health exchanges and cost-saving tax credits, to help them better afford purchasing insurance coverage for their employees.
"This reform expands health coverage and educational opportunities for young people," concluded Rep. Baca. "And the best part is it actually saves the American taxpayers $1.3 trillion over the next two decades, lowering our deficit and helping to ensure future generations are free from massive debt. It is long past time America invested in the future success of our young people instead of the future success of big banks and insurance giants. With this meaningful health and student loan reform -- we have done just that."
For more information on why health care reform is so critical to the future of America's young people, please visit www.younginvincibles.org.