A Young Adult's Quick Guide To Health Insurance

​Young adults just starting out may not have health insurance on their bucket lists at the moment, but neglecting to secure a suitable policy for themselves may cause problems later on. If you belong in this age bracket and you haven’t explored your options regarding health insurance, we advise you to do so at the earliest opportunity. Here is some information you will need to take note of:

​Who Can Stay On Their Parents’ Plan?
If you’re under the age of 26, you may be able to get health insurance coverage on one of your parent’s plan, even if you’re attending school, financially-dependent on your parents, or even if you’re working and are eligible to join your own job-based plan by an employer. This Under-26 coverage will, of course, end on your 26th birthday, but when that happens, you will now be able to qualify for a Special Enrollment Period.

What Do You Need To Do When You Turn 26?
First of all, don’t panic. There are plenty of options available to you even after you lose coverage because you turned 26. Are you working right now? If so, you can pay a visit to your Human Resources office and check to see if you’re eligible to enroll in your employer’s health insurance plan. Most employers are required to offer their employees benefits that include health insurance. Make sure you do this before your 26th birthday.

You can also be eligible to get your own health insurance via the insurance marketplace. Check up on the dates for open enrollment first. For this year, enrollment has already started last November 1, 2018 and will be open until December 15, 2018. Only those who qualify for a Special Enrollment Period will be able to enroll or change plans after December 15, 2018.

So What Is The Best Health Insurance Option For Young Adults?
The quick answer is: there is no absolute best option that is suitable for all young adults. The best health insurance option will depend greatly on whatever your particular situation is. You will need to take into account the following: how healthy are you right now? Are you currently employed? How are your finances?

The most important thing to remember right now is that you need to secure your own health insurance plan as soon as possible. Doing so will help you handle a lot of problems you might have to face later on in life.

At Insurance Marketplace, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (541) 779-0177. Get your free quote today by CLICKING HERE.