Monday, October 11, 2010

Adult Kids and Health Insurance

I fortunately got a job out of college, so I was never in this situation. But I know plenty of people who were. I just hope people don't abuse it.

FROM NBC: The clock is ticking to get your children back on your insurance plan. Around 30-percent of Americans between the ages of 19 and 29 have no health insurance.

The new health reforms are going to make a dent in that number, but only if you take action.

Declan Harrington graduated from college, turned 23, and was no longer allowed on his mother's health insurance plan. Two months after he was dropped, he got in a car wreck.

"A rainy day came up and ended up getting injured and all the bills started mounting up, I'm still dealing with it to this day."

Kamal Muilenburg/Insurance Expert "It's very very common for a first job or a lower paying job to not have benefits." Well that is about to change for Declan and millions of other uninsured americans under the age of 26.

Because of the new federal healthcare plan, they will now be eligible to get back on their parents' insurance plan.

Kamal Muilenburg/ Insurance Expert "So they don't have to be a dependent. they don't have to live with you. they can be married. they can be in school or not." Now your children don't automatically appear on your company's insurance plan. You have to act, and time is running out. Kamal Muilenburg/Insurance Expert: "You could have just missed it, but most people actually fall into the next couple of months."

That's when companies routinely have their open enrollment period, that's when you can sign up your uninsured son or daughter. Kamal Muilenburg/ Insurance Expert "Your health plan is supposed to let you know when you can apply, but I suggest calling."

Declan's mother has already made the call, and started the process to get him back on her company insurance plan. Declan Harrington, "If there's more care offered to people like myself, it relieves stress in their life, then I'm all for it."

So if you think your children qualify, don't take my word for it, get with your company's insurance carrier and find out what you have to do and when. That's important. Also, find out when that insurance kicks in. It could be immediate. It could be a month. t could be the first of the year.

-NewsAnchorMom Jen

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