Can I Be on My Parents’ Health Insurance and My Own?

When someone hits his mid-20s, he probably wonders how long he can stay on his parents’ health insurance plans or even if he can get his own at the same time. Yes, you can be on your parents’ health insurance plans and get your own. This condition of getting two health insurance plans is only legal when you are an adult or under 26.

So, you can be in both until you turn 26, even if you are not living with your parents, married, not financially dependent, attending school, or eligible to enroll in their employer plan.

According to the ACA (Affordable Care Act), a person can stay on his parents’ health insurance plan. After that age limit, they have to get their health insurance plan. When a child loses coverage at the end of his 26th birthday, they can apply for a particular enrollment period to enroll in a health plan outside open enrollment.

Options to Stay on Your Parents’ Health Insurance Plan

Young adults can have an option to stay on their parent’s health insurance plans until they turn 26 under the Affordable Care Act law-no ifs and no buts. This means it is your choice to stay or not, even when you are independent and have a stable job with your health insurance policy.

This is ideal to stay on your parents’ health insurance plan as family insurance plans are less expensive per person than individual plans. But make sure to get your health insurance before you turn 26.

If you are under 26 and attending a college or university, you can get the school’s student health plan by staying on your parents’ insurance plan. If your parents don’t have any insurance plan, these options are good for you, so check your school offers related to insurance plans. You can enroll yourself in one of the health insurance plans offered by your employer without waiting to turn 26. 

Pros and Cons of Getting Multiple Health Insurance

We understand that there are many benefits to having more than one health insurance plan. Getting more health insurance policies means getting extra help with medical costs since dual coverage lets people access two plans to cover healthcare costs. 

That’s a good way to maximize benefits and potentially receive more coverage while staying at your parents’ insurance at little to no cost to them. 

A coin always has two sides, so keep in mind that having multiple health insurance plans means you have to pay out-of-pocket costs. You will also be responsible for any cost-sharing, including premiums and deductions under plan rules.

🡺 READ MORE: The Average Cost of Health Insurance for a Family of 4.

Time to Choose a New Health Insurance Plan

When you enter your mid-20s, your time is ticking to get your health insurance plan if you do not get any. Because when you turn 26, you will be kicked off your parents’ health insurance plans depending on whether they are covered through the healthcare marketplace or an employer. 

You have until the end of the year you turn 26 to sign up for your health insurance because you will no longer be eligible for your parents’ health insurance plan if they have a job-based plan. Also, if they have a marketplace plan, you can enroll to get your new individual coverage to start on January 1 of the following year.