Young and Healthy? 4 Reasons You Should Still Get Health Insurance

Is there even a point to buying health insurance if you’re young and healthy?

The short answer: Yes! In fact, we have four good reasons why young adults should still strongly consider enrolling in health insurance.

1. Stuff happens … and it can get expensive.

Skipping out on health insurance might seem like you’re saving money in the short term, especially when you’re young, healthy, and rarely go to the doctor. Unfortunately, unexpected illnesses and accidents do happen, and they’re much more expensive when you’re uninsured. Something like a broken leg costs an average of $7,500 without insurance. A three-day hospital stay? We’re talking as much as $30,000.  

Paying a low monthly fee for a health plan that helps you avoid paying for unexpected health care out of pocket is actually a bargain — especially now that health plans are more affordable than ever. One out of three people find quality health insurance plans for less than $10 per month, and three out of five get covered for less than $50 per month.

Here’s the good news: While health insurance is an investment upfront, it caps the amount you will spend in a year on health care. Hospitalization coverage, for example, is one of the benefits that ACA-approved health plans are legally required to cover. This means that whether or not you use it frequently, your health insurance helps protect you from bankruptcy in the event of an emergency.

If that’s enough of a reason for you, enter your zip code below to get personalized plan recommendations and compare your best options.

2. All plans come with free services that keep you healthy.

Feeling healthy? Let’s keep it that way! Certain types of health services — such as routine physicals, immunizations, and cancer screenings — can catch medical conditions before they become serious, which helps keep you healthy as you get older. This is called preventive care.

Every health plan comes with certain free preventive care services (you won’t even have to pay a copay). Even less-expensive plans get all the same preventive services as fancier plans, which means you can buy the cheapest health insurance available and still get access to no-cost health care like:

• Annual physicals

• Annual well-woman visits, including pap smears

• Vaccines

• Blood pressure and cholesterol screenings

• More!

3. You’ll likely qualify for lower prices.

Depending on your annual income, you could qualify for a tax credit, which is money the government will put towards your monthly premiums to lower the amount you have to pay. Tax credits — sometimes called subsidies — are available to almost half of the U.S. population and can make health insurance very affordable — some people even end up paying $0 for their plan.

Whether or not you qualify for tax credits depends on your income, but in general, you should expect to spend no more than 8.5 percent of your income on your health plan.

4. Simple, more affordable plan options exist.

When shopping for health insurance, you’ll notice that different plans are categorized by different metal tiers: bronze, silver, gold, and platinum. Each metal tier increases in price and level of coverage.

Platinum plans are the most expensive, but also pay the largest portion of your medical bills. If you don’t need health care often, opt for a less expensive bronze plan. Bronze plans generally have higher deductibles, which means if you do need health care, you’ll have to pay more out of pocket. However, these plans cap your annual medical costs, protecting you during medical emergencies without requiring large monthly payments. Plus, bronze plans fully cover preventive care, so you can still get your annual checkup (and more) at no cost.

If you’re younger than 30 and don’t expect to need much health care, you can also consider a catastrophic plan. Don’t let the name scare you — this type of health insurance is simply a less-expensive option for younger people. In exchange for low monthly premiums, catastrophic plans have very high deductibles, which means their primary purpose is to protect you financially in a medical emergency. Catastrophic plans are unique in that they not only cover preventive care, but also three primary care visits during the year.

How to shop for a plan

Finding the right coverage, even if you have minimal medical needs, is simple when you use Stride. We’ll give you personalized recommendations and search for tax credits that lower the cost of coverage. Enter your ZIP code below to get started!