Are you under 26? Ever since the Affordable Care Act, people under the age of 26 have had a wide range of health insurance options—from buying insurance through their employer or enrolling in their parents’ plan to buying their own. But which one should you choose? Find out more below!
1. Stay on your parent’s health insurance plan
You can choose to stay on your parents’ health insurance plan until you turn 26! Even if you have a full time job, attend school, are married, it doesn’t matter! It might be less expensive to cover an entire family’s insurance plan as opposed to buying it individually.
2. Enroll in a student health insurance plan
If you’re attending college or university, you might be able to enroll in your school’s student health plan. They are generally less expensive. Find out by calling the financial aid office or looking it up online!
3. Enroll in your employer’s health plan
The coverage your employer offers you might suit your situation better than your parents’ insurance plan based on where you live and what you can afford. It would be smart to compare the plans and see which one is more affordable for you! If you end up choosing your employer, then you can help your parents save money.
4. Choose a plan on the Insurance Marketplace
Make sure you are looking into it all and not just the low monthly premiums. You have to think about your total health care costs and not just the premiums. You can talk to one of our Covered CA certified agents at KCAL if you have any questions!
5. Investigate your eligibility for Medicaid coverage
Based on your annual income and others, you might be eligible for Medicaid. It can help cover medical costs for individuals in the U.S. who have lower income and limited resources.
6. Look into a Catastrophic Health Insurance Plan
Because you are under 30, you can sign up for this. These are designed to protect you in the worst possible medical situations like a serious accident or illness. This plan has lower monthly premiums but higher deductibles, in which you would pay for all your medical care until you reach your deductible. If you participate in risky activities such as contact sports, motorcycles, etc., this would not be beneficial until you’ve paid your deductible.
Find out what you want to do because Open Enrollment Period is coming up soon, beginning from November 1, 2016 to January 31, 2017. You have many options so look into it because this is the time to buy health insurance!