According to health care coverage guidelines, adult children can only be covered on a parent’s insurance policy if currently enrolled in college at least part time.
Forms requiring proof of college enrollment by November 1st have parents concerned that their adult children will soon be dropped from their health insurance plans.
“Many parents are terribly worried about the looming November 1st deadline when their children will be unable to continue on their current health insurance plans. The good news is that there are options,” says Bill Moore, partner at IBD Insurance.
Moore says that there are essentially 3 options for parents:
• Individual health insurance plans
• A job with insurance benefits
• COBRA coverage
He says that while a job with insurance benefits is ideal for adult children, finding such a job may not be an option on such short notice. In the interim, BCBSNC agents at IBD assist families with finding affordable individual health care plans or recommending COBRA plans to avoid a lapse in health insurance coverage.
“Most people are surprised at the affordability of personal health insurance plans. A young, healthy person can obtain a comprehensive BCBSNC health insurance at a very low rate – especially when compared with the rate they have been offered for COBRA coverage,” says Moore.
Moore says that COBRA plans can cost as much as three times the rate of a BCBSNC individual plan but may be ideal for those that have an existing health condition until an employer’s group health care plan takes over.
“The parents we’ve spoken with are relieved when they find out that there are several options for their children, but often they are still not sure which direction to take. Our goal is to work with these families to ensure that they are making the most logical and cost effective decision for their family,” says Moore.
About IBD Insurance Services: IBD Insurance Services (http://www.ibdinsurance.com), Inc. is an authorized agency for BCBSNC located in Raleigh, North Carolina. IBD’s mission is to serve each NC health insurance customer with integrity by tailoring health care plan packages to every client’s unique needs.
