An individual mandate will have a negligible effect on consumer financial risk for the non-elderly, but it will increase the median spending on health care by the newly insured:

• Based on our model, an individual mandate results in no discernible change in consumer financial risk for the non-elderly overall.
• Based on our model, the median proportion of income spent on health care increases substantially among those who become newly insured under an individual mandate.
• Based on our model, the proportion of households that spend more than 10 percent of income on health care increases at all subsidy levels among those who become newly insured under an individual mandate.
• Subsidies are a prominent consideration among other researchers who have modeled individual mandates.