Once a child under a parent's plan turns 26, they will need to enroll in their own plan. If they do not, they can lose coverage when turning 26. You will typically also lose their contribution amount from your employer when they turn 26 if applicable. Here are a few options that they can take to ensure coverage.
1. You, the dependent, can enroll in your employer's health insurance plan.
- You will qualify for enrollment if you are losing coverage through your parent due to turning 26.
- If your employer's insurance is considered "affordable" and you do not enroll in it, you may not qualify for premium tax credits or other savings through the Marketplace.
- Contact your HR department as soon as possible as there may be limited time to enroll.
2. You, the dependent, can enroll in your own Marketplace plan.
- You can typically stay on the parent's plan until the end of the year, but some carriers may remove you during the month you turn 26. Because of this, we generally recommend switching that month.
- You will have a Special Enrollment Period when you age off your parent's plan through us. Your Special Enrollment Period starts 60 days before you lose coverage and ends 60 days after.
- When enrolling through the Marketplace, you will be able to check if you qualify for any savings such as the Premium Tax Credit to lower the cost of insurance.
In either case, please let us know when a child dependent turns 26 so that we can take the next steps and assist them with enrollment. You can reach out to us at support@venteur.com or 888-851-5602. For additional information, please see the Healthcare.gov website here.
Note: If your state, such as New York, have plans that have a different age such as 29, this will apply to them based on that cutoff age instead of 26.