Most health insurance companies won’t allow your parents to cover you under their health insurance plan after you turn 26. So, you are 26 and no longer insured by your parents’ health insurance plan. Now that you are uninsured, what now? Finding your own health coverage among all the health plans is not easy, and trying to understand the details of a plan on your own, like out of pocket costs, coinsurance, existing and pre-existing conditions, deductibles, out-of-netwrok providers, private health insurance premium, prescription drugs, and other terms can all become quickly overwhelming.
At Carolina Insurance Professionals, we can offer you the help you need to understand health insurance costs, coverage and everything else about your new health insurance. If you qualify for a plan that can offer you the health services you are looking for, we can help you enroll in the right plan for you so you do not have to search the marketplaces alone.
What are my insurance options?
You have two main options for health insurance coverage after you age out of your parent’s plan: purchase a health insurance program through North Carolina’s exchange or employer sponsored coverage through your job so you can have health insurance with health care costs that won’t break the bank.
When you buy coverage through North Carolina’s health insurance exchange, you can choose from a variety of different health insurance plans and coverage levels and plans. North Carolina’s health insurance marketplace is a great place to start. If you make a modest living or have low-income at the federal poverty level, you may qualify for financial assistance insurance subsidies that will help you cover the cost of your insurance premium for group health or individual health insurance.
Even if you age out of your parent’s plan after the open enrollment period (November 1 – December 15), you still experience a qualifying life event for the special enrollment period because you have just lost heath care coverage. Once you age out of your parent’s plan, you have 60 days in which you can buy from available coverage options from insurers for individuals.
Healthcare.gov is a complicated avenue to buy your Insurance. Your subsidy application is likely to get denied if you fill out even just one question wrong. Your best option is to contact one of our NC health insurance agents to walk you through the process. This free service gives you the benefit of having an expert on your side as you choose a new plan!
What if I don’t think I can afford health insurance?
If you think that your options are too expensive even after subsidies and cheap health insurance is your priority, you have the option to purchase a catastrophic plan. This affordable health insurance plan only covers minimal services until you meet a deductible of about $7,900. These plans are only offered to people up to the age of 30 and acts as a safety net in case you get seriously injured.
With the help of an insurance agent, you can get enrolling in a health insurance plan that fits your needs and your budget. Need help finding a plan among all the health insurers out there? Contact one of our experienced agents and we can supply you with some health insurance quotes and navigate the health care system for the insurance coverage you deserve!