By now, most of you know that under healthcare reform, health insurers carrier are required to allow parents to add adult children up to the age of 26 to their health insurance policy. The new healthcare reform law is expected to be lifeline to health insurance for young people who have otherwise aged out of their parents’ health insurance policies. Young people have particularly hard hit with unemployment and underemployment during the economic downturn, and many have struggled to find employment with health insurance benefits.
This new healthcare reform health insurance requirement is designed for flexibility across a number of situations, applying regardless of whether your adult child is a dependent, married, employed or even residing in the same state. However, before you or your child thinks that being added to your health insurance policy is the answer to all of their health insurance problems, we advise you to think again.
At the end of the day, that health insurance policy is still your health insurance policy, not your child’s. Don’t confuse whose health insurance policy it really is and what rules apply only to the policyholder (you). For example, your adult daughter is eligible to be added to your health insurance whether she is married, employed, living with you, etc., but if she is pregnant, although her pregnancy may be covered by your health insurance, the baby that is born will not be covered by your health insurance. Even though your own child is eligible to be added to your health insurance under healthcare reform, your grandchild is not.
Don’t be caught unaware! If you’re adding your child to your health insurance, make sure you’re both clear about what the limitations may be!
For more on possible health insurance options for your adult child, visit the federal government website HealthCare.gov.
Are you adding your adult child to your health insurance? Tell us about it at the MyHealthCafe.com Forums.
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