Historically, it’s evident that most young adults have been at a huge risk of either having insufficient health insurance coverage or not having it at all. In most cases, people under the age of 30 may not see the need for health insurance.
Some assume that it’s not worth the trouble while others think that it is too expensive. Whether you are healthy or not, someday we all need health insurance. Although finding health insurance can be frustrating or time-consuming, the Health Insurance Marketplace gives you simplified coverage and care options that you are in control of.
Here are the three foremost ways to get health insurance coverage if you are under 30.
Get Covered by Your Parent’s Plan
Supposing your parent’s health insurance covers dependents, then you may be added to their plan until you turn 26.
It is true according to the Affordable Care Act. You may take advantage of this health insurance option even if you live with your parents or not, whether you go to school or not, if have a full-time job or if you are married.
It also pertains to you even if you are eligible for an employer’s health plan. But ensure that your parent’s insurer provides in-network caregivers where you stay; out-of-network costs may sum up faster and cancel out on your savings.
For most young adults, this is their ideal option because plans that cover families seem to be cheaper per person than the individual plans. When you turn 26, you age off your parent’s plan. Therefore, you now qualify for a Special Enrollment Period.
Choose A Plan From The Local Insurance Marketplace
Since you are 26 and your coverage on your parent’s plan has ended, you will have to consider other health insurance coverage options.
Supposing your school or employer does not provide insurance, then you will be forced to choose a personal health insurance plan.
You can compare the available health insurance plans on the Healthcare Marketplace and find that which suits you. This health insurance guide after turning 26 can help you know your options.
Apply for coverage in the Marketplace online or by contacting your local BCBS Company. You will be able to know if you qualify for the lower out-of-pocket costs or if you qualify for getting lower costs on your monthly premium.
It’s possible that you can qualify for low-cost or free coverage that’s available through the Children’s Health Insurance Program (CHIP) or Medicaid. Also, you may be qualified for a special enrollment period due to particular life events, such as getting married, turning 26, having a child, losing your student health insurance coverage, moving or graduating from college.
Some young adults also qualify for financial help to pay for coverage. Therefore, when choosing your plan, make sure you put into consideration all of your options. An emergency situation will most likely make your search that more urgent, if you are, for example, living in Colorado where the living costs are already high and looking for a way to settle your Denver endocrinology specialists costs.
Consider Catastrophic Health Coverage
Anyone under 30 can pick the Catastrophic Health Plan. It is designed to protect you mainly from the worst-case scenarios such as serious illness or accidents. A catastrophic health plan will cover three doctor visits in the Marketplace. The plan will cover these services at no cost with other free preventive care benefits before you meet your deductible (the maximum amount).
Before choosing the catastrophic plan, think about the risk aspects of your life which may enable you to need medical care, to be more accident or even illness-prone.
If you are managing a chronic condition, ride a motorcycle, play contact sports and if you smoke among other factors can increase your chances of needing medical care which the catastrophic plan cannot cover until you pay your deductible.
It’s important to note that nobody plans to get hurt or sick. But usually, bad things do happen even to those people who are healthy. Taking care of such conditions will cost you a lot of money from your pocket and that kind of medical debt will for sure limit your options.
You may end up making the worst health care decisions focusing on money rather than what is good for your health. That is why you need to get a health insurance cover. If you are under 30, embrace the top three ways to get health insurance cover that are discussed above.