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What happens when my children need their own health insurance?



As parents, we meet our children's basic needs. It includes health insurance, so they have access to the medical care they need, when they need it. But children grow up and there comes a time when they need their own health insurance. Here is some information that can help you and your child with the transition.

At what age do children need their own health insurance?

Under the Affordable Care Act (ACA), health plans and insurance companies that offer dependent child coverage must make that coverage available until the child reaches the age of 26, according to the U.S. Department of Labor (DOL). This rule applies to both married and unmarried children and all employer-supported and individual health plans. It does not matter if the child does not live with the parents, does not go to school, is not financially dependent on the parents or is eligible to enroll in an employer-sponsored plan, according to the US Department of Health & Human Services (HHS).

What happens to health insurance when a child turns 26?

Depending on the child health care plan ends on your child's 26th birthday (although some employers and insurers may offer some space). At that time, he or she qualifies for a special registration period. This is a time outside of open registration when you can register with a health insurance plan. The 1

20-day special registration window starts 60 days before your child's 26th birthday and ends 60 days afterwards (30 days later if you buy an individual plan not on the ACA market). The window may be different if your child signs up for an employer's health plan, in which case it is usually 30 days after losing the previous coverage.

What are your child's options for health coverage after the age of 26?

The Affordable Care Act created exchanges that make it possible to shop and compare health plans in one place. Other options when your child loses coverage according to your health plan are:

  • Employer-sponsored health insurance: This is one of the most affordable and easiest ways to get health insurance.
  • Spouse's health insurance: If your child is married, he or she may be entitled to coverage according to the spouse's health plan.
  • COBRA: The Consolated Omnibus Budget Reconciliation Act (COBRA) provides workers (and their families) who lose their health insurance benefits. the right to continue the coverage under the group health plan in certain circumstances for a limited period of time. This type of health coverage is expensive. The employer does not cover any part of the premium, and there is an administrative fee of up to 2%.
  • Individual health plan: This can be an affordable alternative through the exchanges, depending on how much your child is doing. With an annual salary of approximately $ 50,000 or less for an individual, lower premiums and tax deductions are available.

If your child's 26th birthday is approaching, it's time to plan for health insurance in the future. Our experienced agent will be happy to help you find an affordable plan that meets your child's care needs.


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