20-Somethings Decline Even Cheap Insurance

[Liz]

According to this article, less than 64% of employees under 30 working for large companies sign up for health insurance when it is offered by their employer, compared with at least 76% of all employees over 30.

20-somethings decline even cheap insurance - MarketWatch

Do you think it's because many of them choose to stay on their parents' health insurance? Or because they're not willing to part with any of their low-paying salary and would rather take the risk of being uninsured?

 

[smokin goose]

I know I was invincible when I was in my 20's. maybe they are too?

 

[RayNY]

If your parents are required to have health insurance, and you're covered through 26 (up to your 30th birthday with an inexpensive rider in some states), why would you get it yourself?

Why would anyone ever pay anything for something they can get for free?

Of course, not everyone has parents, parents with healthcare, or parents with a family plan. Some of those 20-somethings will get on board and get health insurance because they're not stupid. Mandate or not, some people have the foresight to protect themselves. On the other side of the coin, some will never pay for it, no matter the cost, because they don't see the need.

The majority will be covered under their parents, their employers, or as individual with a sizable subsidy. I'd be surprised to see un-subsidized 20-somethings in the market at all.

 

[deadhead]

That money cuts into the beer budget