So, you’re about to turn 26 and guess what? Time to bid farewell to your parents’ health insurance plan. But there’s no need to panic! We’ve got your back.
It’s important to plan early, so you aren’t left without coverage. Navigating the world of health insurance as a young person can be daunting. How much coverage do I need? What are my options? How am I going to afford this?
We’re here to make the process easier. Taking charge of your health coverage is a smart move, and we’ll help you every step of the way.
First, here are a few points to understand:
- If you are covered under your parent’s health insurance plan through BeWell, you are covered through the end of the coverage year for the year you turn 26. We recommend you enroll in your own insurance before that coverage ends to avoid a gap in coverage.
- If you have a plan through your parents, you have 60 days before or after your birthday to enroll in your own health insurance plan.
Related Reading: How Obamacare and BeWell Help You Find Affordable Health Insurance Alternatives
The options
Employer health insurance: Many Gen Zers snag health insurance through their jobs. If the insurance offered through your job is affordable and offers good coverage, jackpot! However, if you’re unhappy with the cost and coverage offered, you can absolutely look into other options.
Medicaid: This is a joint federal and state program in the U.S. that provides free or low-cost health coverage to eligible people and families with low incomes and limited resources. Eligibility varies by state and can change year to year. Eligibility varies by state, so check out Medicaid to see if you are eligible.
A plan through BeWell: BeWell is New Mexico’s health insurance marketplace. Carriers offer a range of insurance options with different costs. With BeWell, you can explore different plans, compare prices and benefits and enroll in a plan that fits your health needs and budget.
To qualify, you must be able to check a few boxes:
- Be a New Mexico resident
- Have no access to employer–sponsored coverage, Medicaid or Medicare.
- Be lawfully present in the U.S., which means you have a valid Social Security number, F1 Visa or other immigration documentation.
Student health plan: If you’re a student, you may be able to enroll in a student health plan through your college or university. If you are currently enrolled in a student health plan, you may qualify for coverage through BeWell with financial assistance to lower the cost of health coverage and care if you apply during OEP or during an SEP, if you qualify.
If you’re younger than 26 and go to school in New Mexico, you can be included on your parent’s plan regardless of which state they live in, or you can enroll in coverage through BeWell on your own. Depending on your situation, you may be eligible for financial assistance, based on your income.
Related Reading: How a Job Change Impacts Your Insurance Plan
What to consider when shopping for health insurance
Preparing for a healthy life in your 20s and 30s means finding quality health insurance now. Think of insurance kind of like a VIP pass to the world’s best wellness club.
Preventive care: Think you don’t need insurance because you’re young and healthy? Getting preventative care is key to staying well and active through your 20s, 30s and beyond. Preventative care can include routine screenings, vaccination and counseling—all of which are covered under plans through BeWell.
Emergency coverage: Many Gen Zers choose Bronze plans through BeWell, which have lower premiums and higher deductibles. This could be a good option if you don’t have any chronic illnesses and want lower monthly costs. It’s like having a safety net that doesn’t cramp your style or drain your bank account.
Money-saving perks: BeWell is the only subsidies and tax credits to help lower your health insurance costs. Our Certified Assisters can help you compare premiums, deductibles and out-of-pocket costs to find a plan that best fits your budget.
Mental health coverage: We get it. Life can be a rollercoaster. According to the American Psychological Association, Gen Zers report mental health concerns more than other generation. Plans through BeWell cover behavioral health counselling, addiction treatment and many other mental health services.
Ready to enroll? See how to get health insurance through BeWell.
You can fill out just one BeWell application to find out if you qualify for discounts to help cover the cost of health insurance and care. You’ll see right away how much you can save.
Picture this: You, living your best life, feeling healthy, happy, and unstoppable. That’s the power of investing in your health now—it’s the gift that keeps on giving.
So, take the time to explore your options, understand your coverage needs and select a plan that aligns with your lifestyle and budget. Your future self will thank you for making this investment in your health and happiness.
Questions? Call 833-862-3935, chat with us, or schedule a free appointment with a certified assister.
