It’s understandable in a tight economy that many young adults today do not find value in having health insurance. The odds are in your favor that if you don’t have health insurance and save your premium that you’ll be ok. The odds are also in your favor if you play Russian roulette. Neither are good ideas. Both have serious consequences. Those who go uninsured are also doing a disservice to the health of the healthcare in the economy. You are closing your eyes to a clear and present danger that will result in someone else having to take care of your obligations.
Most young adults in their 20’s, who’s parents did have health insurance, probably grew up seeing their parents pay $5 here, $10 there, and most parents don’t even know what uninsured healthcare costs are. Even if your insurance pays $0 on a claim, your insurance probably saved you 50% or more. If you don’t have health insurance, your provider will charge you the retail rate for the procedure. They are required to do so. A broken rib and trauma costs an average of $11,000 for treatment, but the average PPO discount brings down the gross cost to $3,700. (source: VIMO, 10/2/08) Hepatitis can cost you $18,000 in the first few days, and then $20,000 in drugs. Young adults, while least likely to have expenses, also benefit from much lower premiums. In most areas, a healthy young adult can get a high deductible health plan for about $2 per day. After you tear up your knee, or have an unexpected illness is not the time to complain about getting insurance.
It is our opinion that sometime before 2012, you will be required to have health insurance. If you don’t get it while you can, you may pay much more for it in the future.