You may be thinking that you are young and healthy, so you don't need to have health insurance. You may think having health insurance is the waste of money or you may not be able to purchase it due to its high cost. But emergency medical conditions can arise at anytime and any place. Your medical bills during such incidents could put you in debt or ruin your credit and you may not be able to afford the health care you need to recover fully. But the Affordable Care Act has brought reformed policy which mention that you can depend on your parent's group health insurance policy until you are 26 years.
Dependent Health Insurance Coverage for Young Adults
The health reform legislation will allow qualifying young adults whose mother and father have non-group and private group health coverage to remain on their parent's insurance policy up to age 26. Lately issued laws specify that a young adult can qualify for this coverage even when she or he is no longer living with a mother or father, isn't a dependent on a parent's tax return, or isn't any longer a student.
For employer plans that were in existence prior to the date of enactment, young adults can qualify for dependent coverage only if they are not eligible for an employment-based health insurance plan until 2014. But after 2014, young adults can remain in their parent's health insurance plan even if they are qualified for employment based insurance plan. According to this plan, parents must extend their coverage to young adults up to the age of 26.
Why Dependent Health Insurance Coverage?
Before the passage of Affordable Care Act, most young adults were uninsured according to Health and Human Services(HHS).
A new study shows that 30% of young adults ages 19 to 25 who initially had private health insurance in 2008 were uninsured for at least one month over the next two years. Young adults were particularly at risk of losing coverage because they may have aged out of their parents' coverage, moved between school and employment or changed jobs. Although they have limited benefits, they can enjoy lot of benefits in affordable cost even while continuing their own policy after the age of 26.
Dependent Health Insurance Coverage for Young Adults
The health reform legislation will allow qualifying young adults whose mother and father have non-group and private group health coverage to remain on their parent's insurance policy up to age 26. Lately issued laws specify that a young adult can qualify for this coverage even when she or he is no longer living with a mother or father, isn't a dependent on a parent's tax return, or isn't any longer a student.
For employer plans that were in existence prior to the date of enactment, young adults can qualify for dependent coverage only if they are not eligible for an employment-based health insurance plan until 2014. But after 2014, young adults can remain in their parent's health insurance plan even if they are qualified for employment based insurance plan. According to this plan, parents must extend their coverage to young adults up to the age of 26.
Why Dependent Health Insurance Coverage?
Before the passage of Affordable Care Act, most young adults were uninsured according to Health and Human Services(HHS).
A new study shows that 30% of young adults ages 19 to 25 who initially had private health insurance in 2008 were uninsured for at least one month over the next two years. Young adults were particularly at risk of losing coverage because they may have aged out of their parents' coverage, moved between school and employment or changed jobs. Although they have limited benefits, they can enjoy lot of benefits in affordable cost even while continuing their own policy after the age of 26.
About the Author:
I suggest you to visit my web site where I evaluate, review and rate the major health insurance businesses and their insurance policies for young adults.
I was excited to discover this site. I wanted to thank you
ReplyDeletefor your time due to this fantastic read!! I definitely loved
every part of it and i also have you book marked to
look at new things in your website. payday loans erie pa
my webpage: payday loans