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Although often healthy, young people do need medical care for preventive treatment, regular check-ups, and occasional health problems. Many of them also have costly chronic conditions. Yet rising health insurance premiums price millions of young adults out of the market.
The Affordable Care Act aims to provide affordable coverage to millions of uninsured and underinsured young adults.
SOURCE: Young Invincibles website
For example, a young person who wants to buy a plan on the individual market (i.e. not through an employer) and is making $22,000 will have to pay no more than 5.9 percent of his or her income (or $1,300 yearly in premiums). The tax credits will cover any premium costs beyond that. These benefits start in 2014 and will also assist those currently insured by making coverage more affordable.
The Affordable Care Act seeks to make insurance easier to compare and buy, by creating online marketplaces in each state.
Individuals can compare plans and purchase the package that works best for them.