As a young adult, you can remain on your parents' health insurance plan until you reach the age of 26. Then it's time to find coverage on your own. Below are some guidelines to help you navigate the process.
When the coverage ceases under your parent's health insurance
How long you have coverage according to your parent's policy after you turn 26 depends on the type of health plan and in what condition you live in.
If a parent is covered by an Obamacare health insurance plan, you have until December 31
Employer Sponsored Private Plan
If you have been covered by a parent's employer-sponsored health plan, the coverage to end on the last day of the month you turn 26. If your birthday is July 15, your coverage will end on July 31. In that case, you need to plan ahead to avoid gaps in reporting.
In some states, young adults can apply for health insurance to remain on their parents' plans until they turn 30. The seven states are Florida, Illinois, New Jersey, New York, Pennsylvania, South Dakota and Wisconsin. . Most young adults in these states will qualify for the rider, provided they are unmarried, under the age of 29, and do not have access to health insurance through their employers.
When you can register in your own health insurance plan
You will be entitled to a special registration period when you age from your parent's health plan. This means that you can register in your own health plan within 120 days (60 days before and 60 days after your parent's plan loses you). You can also register during the regular open registration period. You are not entitled to the special enrollment period if your parents do not pay their premiums or if you voluntarily withdraw from the plan.
Your options for health insurance after the age of 26
After you have left the estate, you have the same health insurance options as other adults under 65 years of age. These options include:
- Employer Sponsored Group Health Insurance:  If your employer offers a group health insurance plan, this may be your best option.
- Marketing Plan: If you are self-employed or unable to obtain health insurance through your employer, you can purchase an Obamacare plan through the Federal Marketplace. Your license may also have a Marketplace website. Find out if you are eligible for cost or reward subsidies.
- Private Health Insurance: Private Health Insurance is available outside the Marketplace. You can contact insurance companies for specific information about the plans they offer.
Buying health insurance can be a little daunting when you do it for the first time. Our friendly agent is available to help you choose the best option and find a health insurance plan that suits your needs.