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Financial Consequences of Health Insurance: Evidence from the ACA’s Dependent Coverage Mandate
We study the ﬁnancial eﬀects of health insurance for young adults using the Aﬀordable Care Act’s dependent coverage mandate as a source of exogenous variation. Using nationally repre-sentative, anonymized credit report and publicly available survey data on medical expenditures, we exploit the mandate’s implementation in 2010 and its automatic disenrollment mechanism at age 26. Our estimates show that increasing access to health insurance lowered young adults’ out-of-pocket medical expenditures, debt in third-party collections, and the probability of per-sonal bankruptcy. However, ...