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Did the ACA's Dependent Coverage Mandate Reduce Financial Distress for Young Adults?

Author

Listed:
  • Nathan Blascak
  • Vyacheslav Mikhed

    (Federal Reserve Bank of Philadelphia)

Abstract

We analyze whether the passage of the Affordable Care Act's dependent coverage mandate in 2010 reduced financial distress for young adults. U sing nationally representative, anonymized consumer credit report information, we find that young adults covered by the mandate lowered their past due debt, had fewer delinquencies, and had a reduced probability of filing for bankruptcy. These effects are stronger in geographic areas that experienced higher uninsured rates for young adults prior to the mandate's implementation. Our estimates also show that some improvements are transitory because they diminish after an individual ages out of the mandate at age 26.

Suggested Citation

  • Nathan Blascak & Vyacheslav Mikhed, 2018. "Did the ACA's Dependent Coverage Mandate Reduce Financial Distress for Young Adults?," Working Papers 18-3, Federal Reserve Bank of Philadelphia, revised 29 Jan 2018.
  • Handle: RePEc:fip:fedpwp:18-3
    DOI: https://doi.org/10.21799/frbp.wp.2018.03
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    More about this item

    Keywords

    Affordable Care Act; health insurance; consumer credit; financial distress;

    JEL classification:

    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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