Who's Buying the Affordable Care Act in Nevada? - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Who's Buying the Affordable Care Act in Nevada?

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While sign-ups for the Affordable Care Act in Nevada are going smoother than sign-ups through the federal website, the same imbalance exists with both. In fact, local insurance brokers are calling it "Adverse Selection" at its best.

"You've heard the government saying that the 20-year olds will sign up and offset the cost of the older ones," says Jacob Young with Health Benefits Associates, Inc., in Reno. "But they're not! We've had no calls from those in their 20's or 30's. None! All of our calls have been from the older folks with health conditions and those with lower income."

Young says he's signed up more than 100 clients with pre-existing conditions and with low enough incomes to qualify for subsidies. And he says it won't be the insurance companies who suffer if it doesn't balance.

"Insurance companies aren't scared. They'll just raise their rates to offset the payouts. But the federal government should be scared for what this is going to cost in subsidies," Young says.

He says the average policy he's been writing is costing the government $1,000 a month in subsidies on a family and that one family of six qualified for a full government subsidy of $18,000 a year.

He adds that without some balance in getting younger healthier clients into the system, it will never add up to success.

Written by Erin Breen

On a side note -

After many phone calls last Friday and today, Erin finally talked to someone Monday afternoon at the Nevada Division of Insurance. But, the spokesperson told her Channel 2 News could not talk to the state insurance commissioner about this story or about anything having to do with insurance sign-ups.

The spokesperson also said the commissioner would not do an interview with us.

As Erin pressed for answers, she was told "no comment," but to expect a statement to be e-mailed later in the week.

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