Despite the conventional narrative, most of the "young invincibles" aged 19 to 34 who did not sign up for health insurance during Obamacare's first round cited cost, while only one in five said they just didn't expect to need coverage, according to Deloitte.
The consultancy's survey of 500 young adults found that two-thirds of those who didn't sign up said they couldn't afford coverage, and more than half didn't bother to visit a state or federal exchange website.
Those who did sign up cited three main reasons — the need to pay medical bills, to secure peace of mind or to avoid the "individual mandate" tax penalty for failing to gain coverage.
Deloitte says half of those who signed up said government-funded Medicaid or public subsidies on the private-insurance exchanges were an important factor in their decision, yet more than half of all respondents were unaware that the government offered financial assistance or that they could stay on their parents' plans until age 26.
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