First Time Entrants into Workforce Do not Think Enough About Health Insurance.

Young people notoriously do not think about Health Insurance. They are relatively healthy, maybe have been living with their folks or even in college and were still covered by they parents health plans, or maybe they just have that youthful sense of invulnerability. But a recent study found that one in three people between 18 and 25 say they don't think about obtaining affordable health insurance until they get a job. And for many young adults that attitude extends even into that first entry into the workforce. Many youthful first time job seekers say they really do not consider health benefits all that important, and will take a job if everything else is attractive about it regardless if the employer offers little or no health benefits. Which is a mistake according to most health insurance professionals.

Many young people do not even realize just how much health benefits are worth, let alone how important they are to their overall health and well-being. Human Resources professionals agree that medical coverage when added to other employee benefits such as unemployment insurance and social security contributions by an employer actually raise a salary by as much as 35%. As young employees enter the workforce for the first time they must be aware of this as they compare two potential offers.  Say they are offered a starting salary of 25,000.00 a year, one company offers health benefits, the other does not - the company that is giving the benefits would actually be comparable to over 30,000.00 a year for the same position. On the other hand, if young people choose to take a job without benefits, they should not only know how much more they can ask for in salary because of what the employer is not spending on them, and to cover the cost of their own health insurance - they should also be aware that now is actually the best time for them to shop for their own coverage, because they are young and healthy and likely have no pre-existing conditions that can raise rates.

Young people also may not realize that certain health benefits will actually offer discounts or even pay for some of the activities they are likely involved in that keep them fit and trim, such as gym memberships, yoga classes, aerobics classes, weight training etc. Insurance industry experts also say that when a young person is entering the workforce for the first time it is the best time to open up a Health Savings Account. (HSA). The typical health items that a young person may need from eyeglasses and contact lens solution, to ace bandages and Band-Aids - can all be paid with the funds from a Tax Deferred HSA, while accruing funds for retirement or health conditions that may occur much later in life. At the same time having an HSA effectively makes their current Health Insurance more affordable by allowing access to less expensive high deductible health plans.