Under the Affordable Care Act, young adults are now eligible to remain on their parents’ Blue Cross Blue Shield of NC health insurance policies up to age 26, even if they are not full time students. This means that even if you graduated from college and are a part of the work force, your parents can still carry you on their health insurance plan if that is what works best for your family. This can often help alleviate some of the stress that comes during the transition period between school and finding a job that either offers health insurance or affords you the income necessary to purchase an individual health plan.
Once you turn 26, however, you are no longer eligible for coverage under your parents’ policy and it is time to start looking for a plan of your own. Aging off your parents’ policy is considered a Qualifying Life Event and makes you eligible to enroll in health insurance during Special Enrollment. In other words, you do not have to wait until November 1st when Open Enrollment begins to purchase your own health insurance policy. Your Qualifying Life Event is that you lost (or will be losing) eligibility or access to minimum essential coverage and you have 60 days prior to losing that coverage or 60 days after you have already lost that coverage to submit an application and enroll a health plan.
Keep in mind that enrolling in a health insurance plan can be overwhelming and confusing, especially if you have been on your parents’ policy and are stepping out on your own for the first time. Understanding subsidy eligibility, coinsurance, deductibles and other new or unfamiliar terms is an important part of choosing your health plan. We can help! Contacting a licensed agent can make all the difference in the world! We will answer any questions you may have and will provide you with all the knowledge and information you need to make informed, practical decisions regarding your health coverage.
As birthdays go, turning 26 may not be a huge milestone in and of itself, but aging off your parents’ health insurance policy can be. Let Blue Cross Blue Shield of North Carolina help you make a simple and affordable transition. Wishing you a Happy Birthday!
For more information on Blue Cross Blue Shield of North Carolina health insurance coverage, the Marketplace and healthcare gov to apply for your subsidy, please visit our website at www.nchealthplans.com or call our toll free number 888-765-5400 and speak with one of our experienced and professional agents. Let us help you navigate through the Health Care Reform changes in accordance with the new regulations of The Affordable Care Act, also known as Obama care.