When Should Dependent Turning 26 Enroll in Their Own Plan?
Dependent will be 26 years old on May 26th,2015 how long does it take to enroll him.
In other words should I start in April or what is the latest date in May.
I understand he is covered under my policy until the last day of his birthday month but I do not know how much time I need to get started with enrollment.
Answer
They should enroll before the 15th of the month before the month they want coverage to start. Losing coverage on a family plan triggers a 120 day special enrollment period starting 60 days before they lose coverage.
Example: Plan Ends April 1st, enroll no later than March 15th. Remember the plan doesn't start until the first premium is paid.
It's important to note, that for a child who turns 26 to be eligible for cost assistance they must file as single. In a case where someone turns 26 mid-year, they can plan to file independently for the months after they turn 26 (a mid-year change in filing status, same thing in cases of divorce).
At 26 there are lots of tax related reasons for a child to file as single, especially if they have their own income above the Federal Poverty Line. In state's that expanded Medicaid, their income can be lower and still qualify them for free or low-cost health coverage.
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You should further explain that the 26 year old will not qualify for assistance for tax credits as long as they reside in the parent’s home, as ALL household income is considered in the cost when the insured party lives in a household with RELATED persons.
My son is turning 26 in October and will no longer be eligible to remain on our employer-provided health plan. He still lives with us, but only has a part-time job that does not offer a health plan. Does he need to include our income if he applies for Obama care as a single person?
I am 25 years old and still covered under my parent’s company’s insurance plan. I will be turning 26 on March 28, 2017. I am working full-time now, and plan on enrolling in my employer’s plan this year, which becomes effective July 1, 2017. Would I be required to enroll in an Obamacare plan to cover the time between March 28th and July 1st? Would I be required to pay a penalty fee or would I be considered exempt? Thank you!
Everyone is automatically eligible for a short-term coverage gap exemption each year. However, the period you’re talking about it longer than that. Have you checked to see what plans are available to you through the marketplace? Depending on you’re income and location, you may find the plans more affordable then you think because of your age. You’re also under 30 which means you can use the marketplace to enroll in catastrophic coverage, if thats more affordable for those months.