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Despite feeling like an adult at an early age, one in three (38 percent) of young adults don’t believe they should have complete financial independence until 25 or later. (Photo: Shutterstock)You raise them, you send them off to school, they graduate and now, seemingly more than ever, they want more. According to a COUNTRY Financial Security Index, more than half (53 percent) of Americans aged 21 to 37 receive some kind of financial help from a parent, guardian or family member.
On top of that, more than a third of this group receive money on a monthly basis, and 59 percent get money about twice a year. The money is used for a broad range of things from everyday needs such as phone bills and groceries to rent and health insurance.
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Although deductibles have increased for private insurance plans, deductibles for ACA coverage have been decreasing year-to-year.
In 2020, health insurance premiums and deductibles ate up 11.6% of Americans' incomes.
With access to health care services complicated by the pandemic, many consumers are taking matters into their own hands.
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