Good news...it's your birthday.
Bad news, oh...you're health insurance is cancelled.
Good news is that we have a present to take away that nasty surprise so lets take a look at how to celebrate the big day without worry!
The Affordable Care Act changed many rules.
One of them had to do with how long a dependent child is able to stay on a parent's health plan.
That age was increased from age 19 to 26.
This is a good things for many people (and many 25 years old!)
The plan could be individual/family or employer based. Same rule. At age 26, you come off.
This is good time to re-evaluate the options available and make sure you're getting the best rates.
To jump right into the options, you can run your Covered California quote here:
Again, everything has changed!
So...when should we enroll?
First, your new coverage will be guaranteed issue (can't be declined due to health) as long as you don't procrastinate!
We want to enroll prior to losing the old coverage if possible.
Worst case, we'll probably have a 60 day period from coverage that's ending at age 26 but it affects our effective date.
For example, if your birthday is March 15th, the existing policy will usually continue till March 31st.
Always double-check with your carrier but that's typical.
Here's the effective date rule if you're turning 26 and losing coverage.
We can get the 1st of the month following our enrollment date.
For example, we can enroll right up till March 31st to get a 4/1 effective date if we're losing other coverage!
It's best to enroll earlier obviously but that's our worse case.
So what are the options?
We might have some good news here.
People age 26 generally qualify for these credits since they're just starting out income wise.
The official range is up to $47K income estimate for this year.
The reality is a bit different.
Younger people (translated age 26) need their income to be quite a bit lower to get a good tax credit.
This is huge!
There are three versions...the Silver 94, 87, and 73.
The 94 and 87 are slam dunks!
Really rich coverage for the same price as the normal Silver.
It's hard to turn these down.
If your turning 26 and wanted the lowest priced plan, you look at the Bronze.
This for people that want to keep their costs to a minimum and avoid the penalty!
Keep in mind that if you do not have coverage, you could be faced with a nasty penalty.
At least get the baseline coverage to avoid the penalty.
There's also a catastrophic plan which is priced a little lower than the Bronze plan.
The two plans are very similar in benefits. We would like to see more savings with the downgrade than what is usually offered.
The Catastrophic plan then works best for people who the want the absolute lowest priced plans.
Here's our quick advice to Californian's turning 26.
Ideally, call us at 800-320-6269 to find the best value. As Certified Covered California agents, our service is 100% free to you.
There are a few differences to keep in mind when transferring to the new ACA plans (including Covered Ca).
It depends on what you had before.
There are generally three main plans 26 years old are losing:
We can help you figure this but here are the quick rules.
Which are you losing?
#1 is pretty obvious. For individual/family, if your plan has a Metallic name (Bronze, Silver, Gold, or Platinum), then you have #3...an ACA health plan.
Again, we can help you figure this out at 800-320-6269.
Why does it matter?
If you health issues or want certain doctors, we need to find out who they contract with.
This can be tricky now as there are multiple networks available.
Best bet is to email us the doctor/hospital names and cities.
We'll quickly find out who they participate with on the new networks.
This is really important now.
A quick look at the important points:
And oh yes...most importantly...
Happy 26 Birthday!
Also, check out losing health insurance after divorce
Again, there is absolutely no cost to you for our services. Call 800-320-6269 Today!
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20 years of experience in the California health insurance market has taught us one thing...Competent and experienced guidance is Invaluable
We can quickly (very important) size up your health insurance needs and clearly explain the options available to you. Our focus is finding the most coverage at the best cost to you.
We are licensed Covered Ca agents with in-depth knowledge of their plans, process, and tax credits.
Call us...you will be Pleasantly Surprised. 800-320-6269
We'll quickly see if you have the best priced plan available and if you qualify for a tax credit800-320-6269
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