What, me? Get health insurance?

Take it easy, Little Fella’, we’re talking about Young Adults!

Young adults can often benefit from the Patient Protection and Affordable Care Act which allows them to remain on their parent’s health insurance plan up to the age of 26.

Real quick! When could this health insurance option benefit your adult child?

Her job doesn’t offer health insurance.
You’ve chosen a high-deductible, higher out-of-pocket health insurance plan with a lower premium. You, and your adult child are healthy.
You’re happy with your health insurance plan, your younger child is covered, and the premium doesn’t charge extra per child.
Your adult child has a chronic illness. Not all young adults are healthy–one in six fall into this category.

Real quick! What’s the flip side?

You and your spouse work and each have individual health insurance through work. It could be cheaper for you, your spouse and adult child to each have job-based coverage.
Your provider network doesn’t allow your child to spread his wings and fly from the nest.
You have serious health issues and a high insurance premium. He is healthy.
Your adult child is interested in health insurance that provides her with wellness activities and other incentives.

Remember, your child is also an adult.

Cute as they are, and no matter how much we love them, these adult children are adults. The dynamics of the relationship may be changing, and your adult child may consider health issues private. Respect your adult child as you would have her respect you.

Also check out the Affordable Care Act Tax Provisions. The IRS Says