Written by: Vanessa Jerusalimiec (*Amsive Digital) | Reviewed by: Shelley Wyant | *MHP partners with Amsive Digital on news content
Health Insurance Options for 26-Year-Olds Leaving Their Parents' Coverage
Your 26th birthday might not seem as exciting as your 21st, but turning 26 is another milestone birthday. When you turn 26, you’ll leave your parents’ healthcare plan. This is the time to explore your health insurance options and find an individual or family plan that matches your healthcare needs.
Qualifying For Healthcare at 26
When you turn 26 you won't be able to stay in your parents' health insurance plan. Your birthday is a qualifying life event that qualifies you for a Special Enrollment Period. You’ll have up to 60 days after your birthday to find and enroll in your very own health insurance plan.
But you don’t have to wait until your birthday to start researching plans. A few months before your birthday, you can start researching plans in your area and find the right plan for you.
Health Insurance Grace Period When Turning 26
Your Special Enrollment Period (SEP) usually begins 60 days before your birthday and extends 30 or 60 days after your birthday. As long as you enroll during your SEP, your new plan will cover any healthcare costs you may incur after your old plan ends and before your enrollment is complete.
Health Insurance Plans for 26-Year-Olds
You have several kinds of healthcare plans to choose from when you leave your parents’ plan. Carefully consider all your options before enrolling in a new healthcare plan.
Employer Health Insurance Plans
Many 26-year-olds are eligible for health insurance through their employer. If your job offers a health insurance plan, you can enroll in this plan during your SEP. Your HR department can help enroll you in this plan.
Marketplace Plans
Depending on your income level, you may qualify for a Marketplace plan. These plans offer a range of coverage options with varying costs to match your income level. When you apply for a Marketplace plan, you can also find out if you’re eligible for Medicaid.
Student Plans
If you’re looking for health insurance for college students over 26, you can contact your college or university. Many campuses offer student health plans that provide affordable healthcare coverage. Contact your college health center for more information.
Helpful Tips for Finding Your First Health Insurance Plan
Take some time to research plans and don’t settle for the first plan you find. You’ll want to think about the kind of coverage you need and how often you’ll use your health insurance. It’s also a good idea to make sure your preferred healthcare providers are in-network providers.
What About Supplemental benefits?
Before enrolling in a plan with supplemental benefits, do the math. If you have amazing dental health and you only visit the dentist once a year, find out the cost of your annual cleaning and exam. Then compare that to the annual price of supplemental dental insurance. Repeat this process for your yearly vision expenses or other supplemental benefits. If paying for supplemental benefits will save you money, then enroll in a plan with extra benefits.
Consider Your Costs
When comparing plans, you’ll also want to compare costs to find the plan that fits your budget. Health insurance plan costs include:
- Monthly premiums: This is the amount you will pay every month for your health insurance. If you have low monthly premiums, you may have higher deductibles.
- Yearly Deductible: Your yearly deductible is the amount you will need to pay out-of-pocket before your insurance plan starts to pay. If you access healthcare frequently, you may want to pay a higher premium to get a lower deductible.
- Copayment or Coinsurance: These are the costs you’ll pay each time you access a healthcare service. For example, you may pay a $10 copayment every time you see your doctor, or a 20% coinsurance when you see a specialist.
Finding Your First Healthcare Plan
Enrolling in your first health insurance plan at age 26 may seem scary, but getting insured is a great way to maintain your overall health and avoid costly emergencies, putting your mind at ease. Even if you're healthy, take the time to find a plan that fits your needs. McLaren Health Plan has several plan options to choose from, including Medicaid if you qualify.
McLaren Health Plan provides quality health insurance solutions for every stage of life, specifically tailored for Michigan residents. From individual coverage to family plans and Medicare, find out which plan is right for you.
View Our Michigan Plan Options