Current and former Phase II participants, how did you go about picking your Health Insurance? I noticed that the feds are coming out with Self Plus One in the next Open Season, but I will be starting Phase II in September as a newlywed, so I'm trying to figure out what will be best for my wife and I until then. If I understand it right, we can stay under our parents' insurance until we're 25, so should I just wait to enroll until Self Plus One is a thing?
Also, what would you say you budget per month for Health Insurance?
Health Insurance
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umd_2012
Re: Health Insurance
I'm entering phase II and the handbook I have says that for new employees there is a special enrollment period beginning when they're hired and lasting for 60 days. It's after this that you'd have to wait for the open enrollment periods.
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Guest
Re: Health Insurance
If you are married and are both under 26 years old and your parents have insurance that covers dependents and your parents are willing to keep you on their insurance, then you have a bunch of choices. Until each of you turn 26, you can each choose to stay on your parent's policy or go out on your own. Once you turn 26 there is a 60 day special enrollment period where you select your new coverage. Coverage starts the first day of the month after you sign up (assuming you sign up before your 26th birthday + 60 days). You can get all the details at: https://www.healthcare.gov/young-adults ... -under-26/
Here is the basic summary:
If a plan covers children, they can be added to or kept on a parent's health insurance policy until they turn 26 years old.
Children can join or remain on a parent's plan even if they are:
Married
Not living with their parents
Attending school
Not financially dependent on their parents
Eligible to enroll in their employer’s plan
These rules apply to both job-based plans and individual plans bought inside or outside the Marketplace.
When someone turns 26
Under-26 coverage ends on a child’s 26th birthday.
When a child loses coverage on their 26th birthday, they qualify for a Special Enrollment Period. This lets them enroll in a health plan outside Open Enrollment.
They may qualify for premium tax credits and other savings based on their income.
Their Special Enrollment Period ends 60 days after their birthday.
If they enroll before their 26th birthday, coverage can start as soon the first day of the month they lose coverage. If they enroll during the 60 days after their birthday, coverage can start the first day of the month after they pick a plan.
If they don’t enroll in health coverage within 60 days of their birthday, they may not be able to get coverage until the next Open Enrollment period.
If they aren’t insured, they may have to pay the fee for being uninsured. If they’re uncovered for less than 3 months of the calendar year, they don’t have to pay the fee.
Here is the basic summary:
If a plan covers children, they can be added to or kept on a parent's health insurance policy until they turn 26 years old.
Children can join or remain on a parent's plan even if they are:
Married
Not living with their parents
Attending school
Not financially dependent on their parents
Eligible to enroll in their employer’s plan
These rules apply to both job-based plans and individual plans bought inside or outside the Marketplace.
When someone turns 26
Under-26 coverage ends on a child’s 26th birthday.
When a child loses coverage on their 26th birthday, they qualify for a Special Enrollment Period. This lets them enroll in a health plan outside Open Enrollment.
They may qualify for premium tax credits and other savings based on their income.
Their Special Enrollment Period ends 60 days after their birthday.
If they enroll before their 26th birthday, coverage can start as soon the first day of the month they lose coverage. If they enroll during the 60 days after their birthday, coverage can start the first day of the month after they pick a plan.
If they don’t enroll in health coverage within 60 days of their birthday, they may not be able to get coverage until the next Open Enrollment period.
If they aren’t insured, they may have to pay the fee for being uninsured. If they’re uncovered for less than 3 months of the calendar year, they don’t have to pay the fee.