If I Am a Young Adult in Need of Health Insurance, What Are My Coverage Options?
As a young adult, there are several health care coverage options that are likely open to you.
If your income is below a certain percentage of the federal poverty level, you may qualify for Medicaid coverage. At this time, North Carolina has elected not to expand Medicaid eligibility, so if you weren’t eligible for Medicaid before the Affordable Care Act, you likely won’t be eligible now.
If your parents’ health insurance plan offers dependent coverage, you can join or stay on their plan until your 26th birthday.
If you want to buy a health insurance plan on your own, you can do so through the North Carolina Health Insurance Marketplace. All plans that are sold through the Marketplace must meet requirements for covered benefits and cost sharing. You may be eligible for subsidies to help lower the cost of plan premiums and/or cost sharing, depending on your income.
Catastrophic plans are available for adults under the age of 30. These special policies have very high cost sharing. Premium and cost sharing subsidies are not available for catastrophic plans.
If you are a student, you may have the option of enrolling in a student health plan offered through your college or university.
A student health plan is a special health coverage policy that colleges and universities make available to their enrolled students. This plan is usually different from the employer-sponsored group coverage that colleges and universities offer to their faculty and staff. A student health plan does count as minimum essential coverage, particularly if it is fully insured.
Independent Benefit Advisors is happy to help young adults navigate the NC Health Insurance Marketplace. We service Apex, Raleigh, Durham, Cary, Charlotte, Fuquay-Varina, Greensboro, Rocky Mount, Sanford, Wake Forest, and other locations in North Carolina.
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