Learn when you should get health insurance.
Under the Affordable Care Act, young adults can remain covered under their parents’ health insurance plans up until the age of 26. However, if your 26th birthday is coming up, you might have a lot of questions regarding this essential insurance coverage. Here’s what you need to know about securing the right health insurance for you.
Your Parent’s Plan
As previously mentioned, young adults can remain on their parents’ health insurance till the age of 26. This coverage is good even if you are no longer living with your parents. Even if you get married or have a child before the age of 26, you may still have access to the coverages offered on your parents’ plan. Depending on the type of insurance your parents have, you might lose coverage on the day you turn 26. Some plans are a little more lenient, allowing young adults to remain covered until the end of the month following their 26th birthday. Others will offer coverage until the end of the tax year. As every policy differs, you need to speak to your parents’ health insurance provider to find out exactly when your coverage expires.
Special Enrollment Periods
When you turn 26, this triggers a special enrollment period that lasts 120 days. Young adults that are aging out of their parents’ plan have the opportunity to enroll in their own plans in the 60 days leading up to their birthdays or in the 60 days following their birthdays. If you want your plan to begin the month after your birthday, you need to enrol no later than the 15th of the current month. For instance, if you want your coverage to begin on October 1st, you should enroll no later than September 15th.
How to Enroll
When it comes time to enroll in a new plan, you have some options. If your employer offers healthcare benefits, you can speak to your company’s HR department. From there, an HR representative should be able to walk you through the enrollment process. Another option is signing up for a plan through the Health Insurance Marketplace.
This is what you need to know about enrolling in health insurance if you are approaching your 26th birthday. Do you have further questions regarding health insurance? Then direct them towards the experts at Randy Jones Insurance Services in Pleasanton, California. We are always ready to assist you with your coverage needs. Contact us to get started today.