President Obama’s health care reform act was made law today, with the U.S. Supreme Court voting in favor of the Patient Protection and Affordable Care Act.

So what does this mean for young people?

Firstly, it means that you can remain under your parents’ health care plans until the age of 26 (which is great news for many who are not covered by current employers). However, the act also requires Americans who don’t purchase insurance to pay a penalty tax, to encourage everyone to seek the appropriate health coverage.

The new mandate also protects young people with pre-existing conditions from being denied coverage.

For more information, click here.