age for insurance under parents
Health insurance for the under-26 crowd. NEW YORK (CNNMoney.com) -- The federal government unveiled details this week about how people up to age 26 can get covered by their parents' health insurance policies, as part of the health care reform law. Who's covered: The law takes effect for insurance plans that already cover dependents, starting on or after Sept. 23, 2010. Those plans will cover policyholders' children until age 26 -- even if those adult children no longer attend college, don't live with their parents and aren't dependents on a tax return. Finally! Health coverage for children under 26. If a plan covers children, they generally can be added to or kept on a parent's health insurance policy until they turn 26 years old. Children can join or remain on a parent's plan even if they are: 1  Married. 2  Not living with their parents. 3  Attending school. Under the rules, insurers and employers must provide young adults with a 30-day opportunity to enroll in their parents’ coverage. Terms of coverage cannot vary based on the age of young adults under 26. Thus, the White House said, an insurer violates the law if it imposes a surcharge on premiums for children 19 to 25. If they’re covered by a parent’s job-based plan. 1  Their coverage usually ends during their 26th birthday month. 2  If they lose coverage this way, they qualify for a Special Enrollment Period. 3  If they enroll before their 26th birthday, coverage can start as soon the first day of the month they lose coverage. 4  If they enroll during the 60 days after ... 1 They can stay on their parent’s policy until the plan year ends on December 31. 2  If they’re no longer their parent’s tax dependent when coverage ends December 31, they can enroll in a Marketplace plan themselves for the next year during Open Enrollment. WASHINGTON — The White House issued rules on Monday allowing young adults to remain covered by their parents’ health insurance policies up to age 26. The promise of such coverage has attracted great interest. Employers and insurers say they have been flooded with inquiries. That means that companies cannot jack up costs or limit coverage for the under-26 group. 0:00 / 2:46 Bayer CEO on health care reform. Parents will face a 0.7% increase in insurance premiums, across the board, for adding dependents to their plans, according to HHS. That will rise by an additional 1% in 2012 and in 2013. [E]ither ... stockholders or consumers will shoulder that extra cost, HHS said in its report. 1 Young adults can stay on their parents plans until 26. 2  Dependents under 26 have to be offered coverage on plans offered by large employers. ( 3 TRICARE has unique rules). 4  Up to 82% of uninsured young people will qualify for either Medicaid coverage or subsidies to purchase coverage through the Health Insurance Marketplace. If they’re covered by a parent’s job-based plan. 1  Their coverage usually ends during their 26th birthday month. 2  Check with the plan or the employer’s company to find out exactly when the coverage ends. 3  If they lose coverage this way, they qualify for a Special Enrollment Period.
26 years old