Nearly a quarter of millennials, Americans between the ages of 18 and 29, lack health insurance according to a report from insuranceQuotes.com; and 16 percent of all adults do not have health insurance despite the Affordable Care Act’s mandate that all Americans have health insurance.

“A lot has been made of the so-called ‘young invincibles’ who are choosing to forgo health insurance,” said Laura Adams, senior analyst, insuranceQuotes.com. “This could be a costly mistake, especially because this group has easy access to health insurance. Young people typically pay much lower prices to obtain coverage via the health insurance exchanges and can receive subsidies depending on their income. Plus, they can stay on their parents’ health insurance policies until age 26.”

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