Summary: The ACA increased the age for children up to age 26. Find out if there are any exceptions to this rule.
In keeping up with the holiday traditions, we are highlighting the 12 days of Obamacare. As such, on the 6th day of Obamacare, Obama gave to me:
Increased Age for Children
And an Individual Mandate
The Affordable Care Act extends the age children can be covered under their insurance policies to 26. Previously there were all sorts of caveats and stipulations in order to cover your child on your health plan such as must be a college student. The ACA does away with all of the guess work and trying to find loopholes to the age 26 provision. Did you know that you can cover your child even if one of the following circumstances is present?
Your child is married – yes that is correct, you can cover your child on your policy even if they are married.
Your child doesn’t live with you – yes so your child can be married and not live with you and you could still cover them – takes away trying to get away with coverage illegally doesn’t it?
Your child is in school –this one isn’t such a new concept. The key on this provision is you can provide coverage until they are 26.
Your child isn’t financially dependent upon you. So, even if your child had a job and pays taxes therefore not enabling you to claim them as a dependent, you can still cover them under your insurance. Pretty cool, eh?
Your child is eligible for employer insurance at his/her place of employment. This one seems particularly bizarre. It has always been the thought that if you were eligible for employer insurance you had to take it. Times are changing. Now even under this circumstance your child could still be covered under your plan.
The moral of the story is that the government wants everyone covered under insurance especially those under the age of 26. Therefore, strides have been made to encourage this type of trend.
It is important to note that coverage ends on your child’s 26th birthday. At that time, other coverage should be sought. It is also important to note that children in general are not exempt from the individual mandate. If they aren’t covered and don’t fall under one of the few special exclusions, they will be subject to a penalty. Also, you as a parent are not required to carry insurance for your child, assuming they are an adult.
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To find out more about the ACA, please download our Affordable Care Act in a Nutshell whitepaper.