Getting Sick is Bad for Your (Financial) Health
Most of us twenty-something year olds can no longer afford prescription drugs or visits to the doctor, even if we have health insurance. With high-deductible plans, co-payments, and co-insurances, often we don’t bother to use health care services. Taking care of yourself is especially challenging when you are unemployed or underemployed and don’t have the opportunity to go on an employer’s health insurance plan. Because really, who in their twenties has had the time or the luxury to save up in case of a health related emergency? According to a recent Commonwealth Fund survey, “28% of twenty-something year olds who are in medical debt report that they are unable to pay for basic necessities such as food and rent.”
So what are young adults like me supposed to do? Thanks to the Affordable Care Act, some of us are choosing to stay on our parents’ insurance until the age of 26. Others are choosing to continue our education so that we can gain access to a university’s more affordable health care plan. Still others are drinking Echinacea tea every night and crossing our fingers that we stay healthy!