When you’re turning 26, health insurance immediately becomes a huge concern for you. The transition from being covered under your parent’s health insurance to finding your own coverage can be quite intimidating. Here’s what you need to know, aging off of your parent’s insurance plan makes you eligible for a Special Enrollment Period, so after turning 26 you will be able to sign up for your own plan outside of Open Enrollment. Your Special Enrollment period begins 60 days before you’re dropped and ends 60 days after you lose coverage.


Here are some coverage options you may have:


1. Enroll in your employer’s group plan. If your employer offers healthcare benefits and you have the option to sign up in their group policy, losing your parent’s coverage qualifies you to enroll in the plan outside of Open      Enrollment. Contact your HR Department to learn the next steps to take.


2. Enroll in Affordable Care Act Marketplace Online. If you’re unemployed, self-employed, or cannot get health insurance through your job, one option is to shop for a plan on your state or federal Marketplace online. There are several plans that are available through the Affordable Care Act (ACA) Marketplace. If you enroll before losing coverage your plan can start as soon as the first day of the month after you lose coverage. If you enroll after you lose coverage then your plan can start the first day of the month after you pick a plan.


3. Purchase Insurance through a Broker or Agent. Brokers and agents can help you compare different health insurance plan option and process your enrollment for free-you don’t have to pay any fees.


Cosmo will make the transition from being covered under your parent’s health insurance to finding your own coverage extremely easy. We will discuss in detail all the different options you have and help you choose the plan that’s right for you.


Contact Cosmo Insurance Agency to help get you coverage today!


Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance. 





source: healthcare.gov

Posted 12:00 PM

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