What a question to ask on your birthday! But, this is what my daughter and I are talking about since she turns 25 this week. She has insurance now, but on her next birthday she’ll need a new health plan. But why?
Luckily, she’s currently covered under my health insurance due to the Affordable Care Act (“ObamaCare”). ObamaCare allows young adults to stay on a parent’s policy until they reach the age of 26. However, next year, my daughter will need her own insurance plan.
As with all health matters, the best advice is plan ahead. My daughter has a year to figure out what insurance plan best fits her needs.
First, she must find out where she can get insurance.
- Does her employer offer an insurance plan?
- Is she eligible for a state program such as Medicaid?
- If neither of these options work, she is likely eligible for ObamaCare through the health exchanges.
Once she knows how she will get health insurance, she will need to pick a plan. She should consider:
- Is she healthy? If so, a high deductible plan is often an option for young adults.
- Does she want to keep her doctors? If so, she will need to find a plan that her doctors participate in. Just having insurance doesn’t guarantee that her doctor’s charges will be paid for by her new insurance company.
- Consider the costs. Often the employer will pay for part of the insurance or she may be able to get subsidies if she buys insurance through the health exchange.
There a lot of questions to answer. To help you figure out the process, check out our blog post THIS THURSDAY showing my young friend Lauren picking an insurance plan.
Tell us how you or your children selected health insurance. We’d love to hear from you.
For more information about your health insurance, see HealthSpin’s Easy Healthcare: Choosing Your Health Insurance.
We hope we’re helping you Spin Your Healthcare Your Way!