When you turn 26, it’s crucial to transition your health insurance coverage, as you generally lose the ability to stay on your parents' health insurance plan. Here are some steps and options to consider:
First evaluate your options:
- Employer-Sponsored Health Insurance: If you’re employed, check if your employer offers health insurance. Many employers provide coverage for employees and might offer coverage for dependents as well.
- Health Insurance Marketplace: You can explore plans through the Health Insurance Marketplace (Healthcare.gov) during the open enrollment period or if you qualify for a Special Enrollment Period (like aging out of a parent's plan).
- Medicaid: Depending on your income and state of residence, you might qualify for Medicaid, which provides low-cost or free coverage.
- Spouse’s Plan: If you’re married, you might be able to get coverage through your spouse’s employer-sponsored plan.
Very important dates:
- Open Enrollment Period: Typically runs from November to December, but exact dates can vary each year. This is when you can enroll in or change plans through the Marketplace.
- Special Enrollment Period: You qualify for a Special Enrollment Period when you lose your coverage due to turning 26. You generally have 60 days before and 60 days after your coverage ends to enroll in a new plan.
How do I compare plans?
- Coverage: Look at what’s covered under each plan, including preventive services, emergency care, and prescription drugs.
- Costs: Compare premiums, deductibles, copayments, and out-of-pocket maximums. Make sure to consider how much you might need to pay for healthcare throughout the year.
- Provider Networks: Check if your preferred doctors and healthcare facilities are in-network for the plans you’re considering.
Finally, apply for coverage:
- Through Your Employer: If you're eligible for employer-sponsored coverage, you’ll typically need to sign up during a specific enrollment period set by your employer.
- Through the Marketplace: If you choose a plan from the Marketplace, you can apply online at Healthcare.gov or through your state’s exchange website.
- Medicaid: You can apply directly through your state’s Medicaid program.
Additional Tips:
- Stay Informed: Health insurance rules and options can change, so keep up to date with any new information that might affect your coverage.
- Seek Help if Needed: Navigators and certified application counselors can help you understand your options and assist with the application process.
Making sure you have health insurance lined up before your 26th birthday will help you avoid any gaps in coverage and ensure you stay protected. We can help.