28 Feb 2018

How Long Can A Child Stay On Their Parent’s Health Insurance?

How Long Can A Child Stay On Their Parent’s Health Insurance?

Let’s face it; millennials face an uphill challenge in this day and age. Imagine graduating college with a student debt equivalent to a small fortune, then struggle to find a job in the real world, and face the pressures of social media? It’s a tough gig!

On top of that, millions of young adults are nervous about the future of healthcare. With Obamacare premiums to continue to rise, millions of Americans are worried about how they will obtain coverage.

Although, there is a percentage of young adults that continue to utilize their parent’s health insurance. But what’s the cut off age? Today, we’re diving into this topic and touching on all the basics!

The Special Number

The magic number is 26. Young adults can remain on their parent’s plans until the ripe old age of 26.

According to the U.S. Department of Health and Services, an individual under the age of 26 can continue to receive coverage from their parent’s plan even if they’re married, employed, study at a financial institution, or live at a different address.

Some insurance plans have specific rules and regulations though, so we recommend to read the fine print carefully or give the insurance company a call to get all the relevant information.

What Happens When I Turn 26?

As soon as the clock strikes midnight and you’re officially 26, you can no longer use your parent’s health insurance. On the bright side, when this situation does occur, young adults qualify for special enrollment. This means you need to fill out a special application and if it’s approved, you can buy a plan through the marketplace without having to wait for the Open Enrollment Period.

What If My Parents Don’t Have Health Insurance?

Well, don’t worry! There are a few other options out there for you.

The best option is to purchase a health plan during the Open Enrollment Period through the marketplace. OEP occurs once a year, and it’s when most Americans sign up or renew an annual health insurance plan.

What If I Can’t Afford Health Insurance?

This is a real concern for millions of young adults across the country. Luckily, there’s a government program called Medicaid, which provides essential coverage to those who can’t afford it. Each state has different regulations regarding Medicaid, so check out their website for more details.

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