How long can you stay on your parents insurance: If you have health insurance through your parents, you can typically stay on their plan until you turn age 26, according to the Affordable Care Act (ACA). However, there are exceptions to this rule. Losing your parent’s health insurance doesn’t mean you should forgo coverage, but that’s what many 26-year-olds decide. The U.S. Census says 18% of 26-year-olds are uninsured, which is nearly 4 percentage points higher than 25-year-olds, and is the highest uninsured rate of any age.
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How to Get or Stay on a Parent’s Plan
If a parent’s health insurance plan covers dependents, you usually can be added to their plan and stay on it until you turn 26. You can join or remain on a parent’s plan even if you are married, not in school, a parent yourself, not living with your parents, financially independent, or not claimed as a tax dependent.
What Happens When You Turn 26?
Once you turn 26, you generally can’t stay on your parent’s plan anymore. However, there are a few states offering extensions beyond age 26 with certain limitations. For example, New Jersey allows kids to stay on a parent’s policy until age 31 if the child is unmarried and has no dependents.
How to Get Your Own Health Insurance
There are plenty of ways to get your own health insurance once you turn 26, including through your employer, a subsidized plan through the ACA marketplace, or a government program like Medicaid.
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Glossary of Insurance Terms
Here’s a glossary of insurance terms that may be helpful:
- Accident: An unexpected event or circumstance without deliberate intent.
- Accident Insurance: Insurance for unforeseen bodily injury.
- Actual Cash Value: An amount equivalent to the fair market value of the stolen or damaged property immediately preceding the loss.
- Admitted Company: An insurance company authorized to do business in a specific state.
- Agent: A licensed person or organization authorized to sell insurance by or on behalf of an insurance company.
- Named Insured: The person or entity specifically identified as the named insured in an insurance policy.
- Non-Standard Carrier: An insurance company that specializes in providing coverage to high-risk drivers.
Conclusion
In conclusion, if you have health insurance through your parents, you can typically stay on their plan until you turn age 26, though there are exceptions. Once you turn 26, you generally can’t stay on your parent’s plan anymore. However, there are plenty of ways to get your own health insurance once you turn 26, including through your employer, a subsidized plan through the ACA marketplace, or a government program like Medicaid.