A majority of young adults who did not sign up for health insurance under Obamacare cited cost as the reason, according to a new study.
The survey by the consultancy group Deloitte
found that two-thirds of the so-called "young invincibles," ages 19-34, who did not enroll for health insurance said that they could not afford the coverage.
The research also showed that more than half of the respondents said they didn’t even bother to visit a state or federal exchange website to get information on the Affordable Care Act.
Less than 1 in 5 who didn’t get health coverage said it was because they felt that they were healthy enough and didn’t need insurance.
The young adults who did sign up cited three main reasons – the necessity of paying medical bills, their peace of mind, and to avoid paying the mandated individual penalty for not being covered under Obamacare.
Half of those who signed up said Medicaid or subsidies were an important part of their decision, according to Deloitte’s survey of 500 young adults.
The study also showed that more than half of all respondents were unaware that the federal government could subsidize their insurance, or that they can remain on their parents' policies until they reach age 26.
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