Health insurance for adult child

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills

Health insurance for adult child

Postby AAA » Thu May 09, 2013 8:56 pm

My son is still in school but will be 26 this Fall and thus too old for our insurance policy, so we are starting to look for options. We just want a basic catastrophic type coverage, if that's the right terminology. In other words, we won't mind covering an occasional doctor visit but want insurance against any big, unexpected expenses.

Any advice on where to start would be appreciated, as well as experience others may have had.

Thanks.
AAA
 
Posts: 185
Joined: 12 Jan 2008

Re: Health insurance for adult child

Postby gerrym51 » Thu May 09, 2013 9:07 pm

short term health insurance here just need to Jan 1


http://www.assuranthealth.com/corp/ah/H ... urance.htm


starting oct 1 he can sign up for PPACA(obamacare) exchange in the state you are in
gerrym51
 
Posts: 1372
Joined: 27 Apr 2013

Re: Health insurance for adult child

Postby Johm221122 » Thu May 09, 2013 9:19 pm

Next year , as mentioned, you can use healthcare exchange

http://laborcenter.berkeley.edu/healthp ... ndex.shtml
John
Johm221122
 
Posts: 4289
Joined: 13 May 2011

Re: Health insurance for adult child

Postby Watty » Thu May 09, 2013 9:25 pm

Check with your HR department to see if he can get COBRA coverage after he turns 26. If so then that would take him through when he can get insurance next year.

A quick Google found this;

http://www.bluecrossma.com/national-hea ... on-26.html

See the COBRA question towards the bottom of the page.
User avatar
Watty
 
Posts: 4146
Joined: 10 Oct 2007

Re: Health insurance for adult child

Postby jeffyscott » Sun May 12, 2013 11:28 am

I have a son turning 26 in July, my thought is to encourage him to get temporary coverage to Dec. 31. He will be eligible to sign up for subsidized coverage on the new exchange in the fall, even if a pre-existing condition were to appear before then.

I just checked the cost with a reputable non-profit insurance company in my state, 150 days coverage with $5000 deductible costs just $231 total for the entire period.

Cobra may be extremely over-priced for a young healthy person. I think when my daughter was eligible the cost was at least 3 times the cost of getting her own individual coverage.
press on, regardless - John C. Bogle
User avatar
jeffyscott
 
Posts: 5792
Joined: 27 Feb 2007
Location: Wisconsin

Re: Health insurance for adult child

Postby halfnine » Sun May 12, 2013 11:38 am

For where to start...compare the plans on ehealthinsurance.com. Sorts out all the plans available for your state.
halfnine
 
Posts: 313
Joined: 21 Dec 2010

Re: Health insurance for adult child

Postby Johm221122 » Sun May 12, 2013 11:46 am

halfnine wrote:For where to start...compare the plans on ehealthinsurance.com. Sorts out all the plans available for your state.

If kid has little or no income next year the only place to get government subsidies is healthcare exchange
John
Johm221122
 
Posts: 4289
Joined: 13 May 2011

Re: Health insurance for adult child

Postby Rodc » Mon May 13, 2013 9:40 am

Most colleges provide low(ish) cost insurance of this sort. I would check with the school.

Best of luck.
We live a world with knowledge of the future markets has less than one significant figure. And people will still and always demand answers to three significant digits.
Rodc
 
Posts: 9402
Joined: 26 Jun 2007

Re: Health insurance for adult child

Postby Leesbro63 » Mon May 13, 2013 9:48 am

Rodc wrote:Most colleges provide low(ish) cost insurance of this sort. I would check with the school.

Best of luck.


Be careful. These used to have low limits (but this might be disallowed under current law now).
User avatar
Leesbro63
 
Posts: 3286
Joined: 8 Nov 2010

Re: Health insurance for adult child

Postby sandburg » Mon May 13, 2013 10:32 am

I'll second ehealthinsurance.com.
sandburg
 
Posts: 99
Joined: 30 Jan 2009


Return to Personal Finance (Not Investing)

Who is online

Users browsing this forum: Bing [Bot], mephistophles, pjstack and 21 guests