Learn about health insurance options for young adults under the Affordable Care Act.
If you’re under the age of 30, you have several different options for health insurance in Springfield, MO. Whether you choose to stay on your parent’s healthcare plan or you choose to purchase your own through the Health Insurance Marketplace, there are a few different options for you to choose from.
Stay on your parent’s plan.
If you are under the age of 26, the you have the option of staying on your parent’s health insurance plan. The Affordable Care Act allows parents to add children under the age of 26 to their healthcare plan during the open enrollment period or a special enrollment period. If your parents have insurance through their employer, they’ll need to check on the details of that plan to ensure that they can add you to it. If they have purchased a health insurance plan through the Health Insurance Marketplace, they can add you to it during the open enrollment period or a special enrollment period.
Contrary to popular opinion or some rumors you may hear, even if you get married, have a child, or leave school, you can still be covered by your parent’s health insurance plan under the Affordable Care Act – as long as you’re under the age of 26.
Get your own health insurance plan.
If you choose to get your own health insurance plan and apply through the Health Insurance Marketplace, you may qualify for a less expensive plan if you have low income. Additionally, if you’d rather just protect yourself against major illnesses or accidents under the Affordable Care Act, you can choose a Catastrophic health plan and pay your regular healthcare expenses yourself, like annual doctor visits.
Consider a student health insurance plan.
Even college students can get covered under the Affordable Care Act with special student health insurance plans. This is often an affordable way to get health insurance that qualifies as minimum essential coverage (which also prevents you from having to pay the fee for not being insured). If you choose to go this route, just make sure your parents aren’t claiming you as a tax dependent. If they are, you won’t be able to receive the same savings for your health insurance plan as you would if you were not being claimed.
The regulations on health insurance under the Affordable Care Act can be confusing. Contact us today if you have additional questions about how to get health insurance in Springfield, MO.