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Executive Order for Policyholder Payments
As you approach adulthood, one common question you may have is how long you can stay on your parent's health insurance. The Affordable Care Act (ACA) allows young adults to remain on their parent's plan until age 26. This provision ensures that young people, often transitioning from school to work, can access health insurance during a change.
This blog will explore the rules regarding staying on your parent's health insurance and what happens when you turn 26.
Under the ACA, you can remain on your parent's health insurance until you turn 26, even if you are married, living independently, or financially independent. This provision applies to all types of health plans, whether provided by an employer or through the marketplace. You are eligible for coverage until your 26th birthday, after which you must find your health insurance.
While the general rule is that you can stay on your parent's health insurance until age 26, there are a few circumstances where your coverage may end sooner:
Coverage Through Your Employer: If you're offered health insurance through your job, you may need to take it, and you would no longer be able to stay on your parent's plan. However, you can remain on your parent's plan if the employer's insurance is unaffordable or inadequate.
Loss of Parent's Job or Health Insurance: If your parent loses their job or their employer stops offering health insurance, you may lose coverage earlier than expected. In this case, you can explore alternatives like Medicaid or marketplace insurance.
Marriage: If you get married before turning 26, you can still stay on your parent's insurance. Once you turn 26, you will need to find your coverage.
Once you reach 26, you will no longer be eligible for coverage under your parent's health insurance plan. However, there are several options available:
Marketplace Insurance: After 26, you can apply for insurance through the marketplace. You may qualify for subsidies depending on your income.
Employer-Sponsored Insurance: If employed, you may have access to health insurance through your employer. This is a standard option after aging out of your parent's plan.
Medicaid: If your income is below a certain level, you may qualify for Medicaid, which provides health coverage for low-income individuals.
Staying on your parent's health insurance plan until age 26 is an excellent option for young adults. However, once you turn 26, exploring other health insurance options is essential.
At Club Agency Insurance Brokerage, we can help you find the right health coverage for your needs. Contact us today or call our team at (866) 784-9785 to learn how we can assist you with your health insurance options.
