One thing you need to know about Obamacare if you have a kid age 18 – 25 (or if you are that kid).

November and December are open season for most health insurance plans.  It is important to consider now whether you need to cover your young adult in your family plan.  Your employer should notify you of open season for the employer plan.  If your employer does not offer a plan or you do not have insurance for you or your family you can apply to Marketplace.  You generally must apply during open enrollment.  Click here to apply during open enrollment if you are in Kentucky:  KY Marketplace KYnect. *

If you lost employer insurance, check to see if you qualify for a special enrollment.  For more information concerning who qualifies for special enrollment click here: Special Enrollment Period

Many parents may be worried about how they are going to pay for health insurance for their young adult in 2021. Obamacare [the ACA] is still to the rescue! Did you know that if you have a family plan or if your employer-provided health insurance has a family option, you can cover kids up to age 26. This is true regardless of whether that “kid” is still at home or not. Affordable-Care-Act

A young adults can join, remain, or return to a parent’s plan even if:

>married
>not living with the parents
>attending school
>financially independent
>eligible to enroll in their own employer’s plan.

If the young adults child turns 26 during the year, coverage might end on on the day they turn 26 under some employer plans, but check with the employer.  If it does, the young adult qualifies for a special enrollment period at the Kentucky Marketplace.  Click here: KYnect.

For more information see:  YOUNG ADULT COVERAGE.

CIRCULAR 230 DISCLOSURE: To ensure compliance with the requirements imposed by the IRS, we inform you that, to the extent this communication addresses any tax matter, it was not written to be (and may not be) relied upon to (i) avoid tax-related penalties imposed under the Internal Revenue Code, or (ii) promote, market or recommend to another party any transaction or matter addressed herein. Likewise, nothing herein is intended to convey an expression of an opinion as to the likelihood a tax position would ultimately prevail if challenged by the IRS.

*KYnect open season for 2021 runs from November 1 through December 15.

[reviewed and updated 11/16/2020]