Young adults are generally healthy, and they often feel that health insurance coverage isn’t necessary. However, basic coverage can help in the event of medical emergencies, routine procedures, and even dental care. Yet, many people have questions they need the answers to before choosing the right policy. Below are answers to some of the most common questions young adults have when comparing health insurance quotes.
What Young Adults Need to Know About Health Insurance
Is there a tax penalty for failure to buy coverage?
Initially, the Affordable Care Act (ACA) included a tax penalty that mandated everyone had to purchase health coverage. However, the penalty was eliminated at the end of 2018. Technically, the mandate is still in effect, but the ACA includes no tax penalty to enforce it.
How long can you stay on your parents' plan?
Young adults can remain on their parents' health insurance policy until they reach age 26. This is true even if you live separately from your parents or are married.
What if you have a pre-existing condition?
In the past, the existence of a pre-existing condition could be cause for the insurer to deny you coverage or raise your rates. Under the ACA, carriers are no longer permitted to do this. Even if you have previously been diagnosed with a condition, you are entitled to coverage at an affordable rate.
How do you get a health insurance quote?
You can request pricing and policy information through your state marketplace or a private insurer. To purchase through the healthcare marketplace, you must sign up during the open enrollment period, between November 1 and December 15 of each year. You can buy coverage through a private insurer at any time of year with no penalty.
If you want to inquire about an affordable health insurance quote, contact Texas County Mutual Insurance in Licking, MO. They have served businesses and individuals throughout Texas County since 1904. They also offer farm liability and farm equipment insurance, as well as homeowner liability and mobile home insurance. Check out their website to learn more about their policies or call (573) 674-3125 today to request an insurance quote.