Turning 26 is an important milestone. You may be finishing school, starting a career or planning your next step in life. It is also the age when most young adults lose health coverage under a parent’s insurance plan.
This change can feel uncertain. However, understanding your options can make the transition easier. With the right information you can choose a health insurance plan that fits your needs and your budget.
Understanding how to find coverage that fits your specific healthcare needs doesn’t have to be a hassle. We have the tips and information you need to get started right here!
Aging out of your parents’ plan at 26 counts as a qualifying event that allows you to sign up for a new plan outside of the standard enrollment window, so you don't have to wait for the next Open Enrollment Period to enroll in coverage..
There are a lot of healthcare options available and the sheer number of choices you’ll come across can easily seem overwhelming. One option you may consider is an Individual and Family health plan through SummaCare.
These plans are designed for people who do not receive insurance through their employer, might be self-employed, work part-time or need coverage for themselves and their family.
Individual & Family plans provide comprehensive medical and pharmacy benefits. Many plans also include preventive care services, wellness programs and other resources to support being proactive about your health and well-being.
In some cases, you may also qualify for financial assistance through government programs that help lower monthly premiums or out-of-pocket costs.
SummaCare’s Individual & Family health plans are available at different coverage levels. Each level balances the monthly premium with the amount you pay when you receive care.
Bronze plans usually have lower monthly premiums but higher out-of-pocket costs when you receive care. These plans may work well if you expect few medical visits during the year.
Silver plans typically offer moderate monthly premiums and moderate out-of-pocket costs. These plans may be a practical choice if you expect routine care or if you qualify for additional savings.
Gold plans often have higher monthly premiums but lower out of pocket costs when care is needed. These plans may be helpful if you expect frequent provider visits or ongoing treatment.
Choosing a health insurance plan can feel complex at first. Focusing on a few key factors can help you make an informed decision.
Monthly Premium
The premium is the amount you pay each month to keep your health insurance coverage active.
Deductible
The deductible is the amount you must pay for covered services before your health plan begins sharing the cost.
Provider Network
It is important to check whether your preferred provider, hospital and pharmacy is included in the plan’s network.
Covered Benefits
You should also review the services that matter most to you such as primary care visits, mental health services and prescription drug coverage.
Many Individual and Family plans also include preventive care services designed to help you maintain your health.
There are two main times when you can enroll in a health insurance plan:
Open Enrollment
Marketplace Open Enrollment starts on November 1. During this time, you can select an Individual & Family plan for the upcoming coverage year.
Special Enrollment Period
Certain life events allow you to enroll outside of the Open Enrollment Period, so you do not have a lapse in coverage. Losing coverage under your parents’ plan is one of these qualifying events. It is important to note that some Special Enrollment Periods, like turning 26, require you to take action within a certain timeframe.
You can take several simple steps to secure your own health insurance coverage.
Once your enrollment is approved, starting on the effective date applied for, your health plan will help cover the cost of provider visits, prescription medications and other healthcare services.
Turning 26 is an important step toward independence. It is also an opportunity for you to take responsibility for your healthcare coverage.
SummaCare’s Individual and Family plans offer flexible options that allow you to select coverage based on your personal healthcare needs and financial situation.
With the right plan in place you can protect your health, manage medical costs and move forward with confidence!
Visit SummaCare’s Individual & Family plan webpage to learn more or call 888.251.7953 (TTY 711) to speak to a licensed insurance representative.
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