How to look into getting health insurance coverage as a 26-year-old.
18 years old. 21. 30. These are all milestone birthdays that most of us look forward to. They signal a new chapter in our life, one with more freedom and responsibility. There’s another milestone birthday, though not as celebrated, it is just as important: 26 years old. It’s the year you officially hit your mid-20s. It’s the year that you must get health insurance if you have been using your parent’s plan so far.
When you need to have your own coverage depends primarily on who your parents have health insurance through: the Health Insurance Marketplace (which is the official site of the Affordable Care Act) or their employer. There’s a lot of uncertainty around the Affordable Care Act (also known as Obamacare), but a good health insurance expert will lead you through the process of securing insurance.
If your parents have health insurance through their employer, generally, you’ll lose coverage during or shortly after your birthday month. The exact date that you’re covered through depends on the individual insurance plan – so ask your parents to check with their insurer. To avoid a fee, you’ll need new coverage within 60 days of losing coverage. However, COBRA, a short-term health insurance plan, may be suitable to you for up to 36 months after you lose your dependent status.
If your parents have a Health Insurance Marketplace plan, you may be covered until December 31st of the current year. You will need to have your own coverage by January 1st the year after you turn 26, though. Check with their policy to confirm the details.
When you are about to get your own health insurance plan, it’s wise to look at all of your options. Many people choose to go through the Health Insurance Marketplace, but your employer may offer coverage or you may choose to talk to an independent insurer.
Ready to find your first health insurance policy? Visit Bell Black Insurance to get started today. We serve those in Idaho Falls, Island Park, Driggs, Victor, Swan Valley, Ashton, and the neighboring communities in Idaho, as well as Jackson and Star Valley in Wyoming.