Young People Could Bear Brunt of Insurance Mandate

Young adults are in for a wake-up call if health care reform passes.

For the first time ever, the federal government is going to require that everybody obtain health insurance coverage. For those who have insurance through their employers, the so-called individual mandate may have very little impact. But for young adults, many of whom are not currently covered, the health care bill will add a new and costly expense to their budgets.

"The Census Bureau tells us there are 18 million people between the ages of 18 and 35 who are uninsured -- roughly half of the uninsured population are younger people in that age group," said Anne Kim, with the non-profit think tank Third Way.

The individual mandate has teeth to it, and anyone who refuses to get coverage will be fined under the health care package.

In the Senate bill, the fines start low at $95 a year in 2014, and they eventually rise to between $750 and $2,250, depending on the income of the person being fined. In the House bill, the fine is calculated as 2.5 percent of the income of the person being penalized.  To read more:  click here.