Health insurance penalties, premiums for young people - FOX 26 News | MyFoxHouston

Penalties or premiums for young people with mandated health insurance

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HOUSTON (FOX 26) -

Many uninsured young people in their mid-to-late twenties or early thirties enjoy good health and will need to decide very soon whether they should pay for mandated health insurance or pay a penalty.

Certified Public Accountant Bob Martin explains the risks to young people for not having health insurance.

Martin says many young people who did not have health insurance were strong supporters of President Obama and the Affordable Care Act. Why would they now decide to pay a penalty instead of taking advantage of the government-mandated healthcare exchanges?

The dangers of not having healthcare insurance include the following:

• rising penalties for not having insurance

• risk of incurring huge medical costs if you have an accident

• limited access to quality medical care when you need it

• increased likelihood that you won't get regular check-ups

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