Study: Obamacare math may not add up for ‘young invincibles’
By Dan Mangan
Obamacare could require far too much expense and provide too few benefits for the percentage of healthy young-adult enrollees to rise, according to a new analysis.
Consumer price comparison site NerdWallet said its analysis suggests that healthy younger adults who go without insurance could on average spend up to five times less on health care than those who sign up in Affordable Care Act plans.
The site predicts that, despite a legal mandate to obtain coverage, many young adults will remain uninsured in 2014 because it is cheaper for them to pay their medical bills than to buy insurance. That’s true, the company said, even if they are eligible for tax credits to offset the cost of coverage.
“It isn’t just a ‘young and reckless; mentality keeping so-called young invincibles from signing up,” NerdWallet said.” Many young adults will follow a logical financial rationale for remaining uninsured in 2014.”
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