while some college students are able to remain on their parent’s health insurance plan, some are responsible for getting their own health insurance for the first time. the current health insurance system in the u.s. can be a complicated system to navigate, so this guide is designed to help students understand the affordable care act, how to choose the right plan, and common insurance terms that every patient should understand.
navigating the affordable care act
health insurance can be confusing, especially for those who are getting coverage for the first time. this section explains what college students and recently grads can expect and the benefits that are still available to them through to the affordable care act.
college students and recent graduates have a few choices for receiving health insurance. for those who are still in school, signing up for a student health plan through school is an affordable way to get the insurance they need. in addition, current students and recent graduates have the option to stay on their parents’ health care plans until they reach 26 years old. when people do this, they can either enroll in the insurance that their parents receive from their jobs or a plan parents purchase through the health insurance marketplace. marketplace plans are offered by the states and on the federal level if a state marketplace is not available.
students and recent college graduates may be able to purchase their own coverage through the health insurance marketplace. in order to find out what type of plans they are eligible for, people can visit healthcare.gov and enter information about their income, the state they live in, and how many people live in their household. in addition, some people may qualify for a discount on their health insurance plans depending on their income, provided that they aren’t claimed as a dependent on their parents’ tax return.
focus on aca changes
since the change of administration in washington, d.c., the affordable care act has been modified. for example, one of the changes to the program is that the individual mandate has been eliminated, which means that people who do not carry insurance will no longer be required to pay a penalty when they file their taxes. in addition, changes to the law have resulted in increased premiums and shorter enrollment periods.
although students and recent graduates can still receive their health insurance from the affordable care act, it’s important for them to keep abreast of current developments at healthcare.gov since the program is still evolving.
how to choose & purchase student medical coverage
choosing health insurance is an important decision that shouldn’t be taken lightly. in order to make an informed choice, it’s imperative for students and recent graduates to understand what their options are. the table below provides information on medical coverage avenues to help people make that choice.
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