Being Young Is No Longer Fun

Being Young Is No Longer Fun

Graduating should be a time to celebrate and the beginning of a new adventure. However, many young adults are quickly learning that today’s world environment is much different from that of their parents. The economy is slowly moving, businesses are not as quick to hire, and there are new rules to the job market.  One new rapidly approaching is the Affordable Health Care Act.

Economists point to this law as the potential catalyst for growing unemployment, lack of new full time employment, and the prevention of young adults to enter the job market. As if finding the job would not be hard enough, many are also predicting that the new premiums under this law will drastically rise targeting many young, healthy adults.  So what is young adult to do?

A recent article by the Economist predicts that many young adults will take the penalty. The article points out that while there is a penalty many would actually save more money taking that penalty rather than paying the premium costs. If a large number of young healthy adults opt to take the penalty rather than buy in the Affordable Health Care Act will potentially falter all together.

Click here to read the full economist article. 

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