Top 4 Reasons That Young Adults Won’t Sign Up for the Affordable Care Act – ABC News
By Napala Pratini, NerdWallet
The U.S. Department of Health and Human Services has released data showing that 55 percent of Americans who enrolled in plans under the Affordable Care Act (ACA) in the first three months were between the ages of 45 and 64. The report from January showed a whopping one-third of enrollees were aged 55 and older—people just shy of coverage under Medicare, and more likely to get sick or to have pre-existing health conditions. Only 24 percent of the 2.2 million who have signed up are between the ages of 18 and 34, well below the Obama administration’s target of around 40 percent. A new study on the cost of insurance for young adults reveals why young adults may opt out of purchasing health insurance through the marketplace.
1. Most young adults are in the “healthy majority”
2. Being healthy doesn’t entitle you to a big break on insurance costs
3. Emergencies don’t necessarily cost less with insurance
4. For the healthy majority, being uninsured is 5 times cheaper than being insured