For young adults, aging off a parent’s health insurance plan can be a challenging transition. This life event usually happens when you turn 26, which is the age when you can no longer be covered under your parents’ plan, according to the Affordable Care Act (ACA). However, this shift doesn’t have to be a stressful one if you’re prepared and informed about your options. When Do You Age Off Your Parent’s Health Insurance? Under the ACA, young adults can remain on their parent’s health insurance plan until the age of 26. Once you reach this age, you will need to secure your own health insurance coverage. The exact date you age off your parent’s plan depends on your birthday and your parent's insurance renewal period. For many, this happens on their birthday or at the end of the month in which they turn 26. What Are Your Options After Aging Off? Once you age off your parent’s health plan, you’ll need to find new coverage. Here are some options: 1. Marketplace Insurance: You may be eligible for a plan through the healthcare marketplace. If you’re under 30, you can also consider a Catastrophic Plan, which provides low premiums but high deductibles for young, healthy individuals. 2. Employer-Sponsored Insurance: If you have a job that offers health benefits, you may be able to enroll in your employer’s plan. Open enrollment periods for employer plans may vary, so it’s important to check when you can apply. Typically, aging off a parent’s plan would create a qualifying event to enroll in the employer coverage. 3. Medicaid: If you’re on a limited income, you may qualify for Medicaid, which offers free or low-cost coverage depending on your state. 4. Parents’ Plan through COBRA: In some cases, you may be able to extend coverage under your parent’s plan via COBRA. However, this can be expensive, as you would need to pay the full premium yourself. What Should You Consider When Choosing a New Plan? • Affordability: Compare the cost of monthly premiums, deductibles, and copays. A plan that seems affordable in terms of premium costs might have high out-of-pocket expenses rendering using the plan when needed unaffordable. • Coverage: Make sure the new plan offers coverage for the services you need, such as prescriptions, preventive care, mental health services, and emergency care. All ACA plans will offer these benefits, but if you are looking at short term or some other type of plan, these basic services may be omitted. • Networks: Check if your preferred doctors and healthcare providers are included in the plan's network. Take Action Start preparing ahead of time. Don’t wait until the last minute to explore your options. If you’re aging off a parent’s plan, consider starting your search for coverage at least 60 days before you lose your existing plan. This will give you plenty of time to review different options and choose the best plan for your needs. We recommend using a qualified agent who represents multiple options to ensure you get the best product and price for your needs.