"I'm 26 and getting kick off my parents health plan."
When you turn 26, you might find yourself in a tough spot. Your parents can no longer cover you through their health insurance you might not have the option of employer-sponsored insurance. Here's what to do next.
If you're employed:
Find out if you've become eligible for your employers health insurance plan. If you’re working and your employer offers health insurance, it's possible you will become eligible for that health insurance plan when you lose your current one. Find out how much it will cost and how long you have to sign up (it's usually only 30-60 days).
Before you sign up, contact a licensed insurance broker (like me!) to find out if the plan offered by your employer is the right option for you.
If you're unemployed/employer doesn't offer insurance:
Use Covered California to shop for the right insurance plan for you. Or, better yet, ask a licensed inurance broker to do the leg work for you.
If your income is low:
Reach out to a licensed insurance broker to find out if you are eligible for Medicaid. Your premiums, deductibles, copays and coinsurance are usually very small if you qualify for Medicaid.
If your a student:
If you’re in college, you may be eligible for student health insurance through your college or university. However, the quality of these plans can very. I am always happy to help evaluate the plan offered.
Whatever you do, do not go without insurance. You're in your twenties and likely feeling very healthy. You never go to a doctor, right? You'll just pay for medical things as you go. This is not a good idea. Here's why:
Medical emergencies are expensive. If you have one without insurance, you could be facing a crippling amount of medical debt. One quick accident could cost you thousands of dollars in medical bills, and it can quickly climb higher if you need surgery or anytime in rehabilitation.
Preventative medicine is important. Treatment of relatively minor conditions is one of the best ways to avoid long hospital stays and high medical costs.
If you don't have insurance, you could face fines. Under the Afforable Care Act, those without health insurance pay a penalty when they file their taxes.
If you have any questions, please feel free to contact me. I am here to help!