The JRC Blog

Do I Really Need Health Insurance as a Young, Healthy Adult?

young healthy adult health insurance The last thing on the mind of a young, healthy 20 or 30-something is health insurance. Deemed the “young invincibles”, young adults who have no serious or ongoing medical concerns often try to justify not paying for health insurance.

It might seem like a waste of money to pay a monthly insurance premium when you only visit the doctor 1-2 times a year for a head cold or stomach bug. However, most people don’t realize the risk they are taking by not carrying a health insurance policy.

Here is why you should purchase health insurance coverage even if you are a young, healthy adult:

1. It’s the Law

With new Affordable Care Act, otherwise known as Obamacare, everyone is now required by law to carry health insurance. If you choose not to, you will be penalized and required to pay fines when you file your annual income tax. In 2015, the fine is $325/adult and $162.50 for each child or 2% of your family’s yearly taxable income. In 2016, these fines double.

2. It’s Financially Smart

There are countless stories of young adults who do not have health insurance being financially devastated by one little injury or illness. It doesn’t take much to rack up the costs. For example, a ride in an ambulance can cost up to $3,000, a single night in the hospital might be near $10,000, and an MRI up to $4,000. Even a quick trip to a doc-in-the-box can be upwards of $100. Not to mention the doctors fees, medicine, and income you’ll miss from not being at work.

3. No One is Invincible

At some point, everyone needs health insurance. Whether it’s the flu, a sprained ankle, or something more serious, health insurance can go a long way to cover some hefty bills.
If you have no significant, ongoing medical concerns, then it’s easy to feel invincible and justify not carrying a health insurance policy. But the truth is that life is unpredictable. You might be healthy and strong one day and bed-ridden the next.

In summary, don’t ever, ever, ever take the risk of not carrying health insurance.

As frustrating as it is to pay a monthly premium when you are young and healthy, it is financially, emotionally, and legally well worth it in the long run.

There are plenty of affordable health insurance plans available if you know where to look. Let us know if you need any guidance on a health insurance plan that’s right for you. We’ve helped countless young adults purchase low cost health insurance policies.