Does your Young Invincible need health insurance?
Learn how Smart Choice for Health Insurance can help you choose the best plan for you.
Are you interested in a crash course on how to help your Young Invincible evaluate and purchase health insurance? Michigan State University Extension has your back!
In case you are wondering, Wikipedia says that a Young Invincible is a person between the ages of 18 and 29 who decides that it’s best for their financial health to decline purchasing health insurance. The term is used particularly in the insurance industry.
More than 200 million Americans have new options for health insurance following the passage of the Patient Protection and Affordable Care Act (also known as the Affordable Care Act or Obamacare). The Affordable Care Act provides access to health insurance via the health insurance marketplace and many Michigan residents have expanded access to the Healthy Michigan insurance program. Healthcare.gov says that if you’re under 26, you have several options for getting health insurance coverage:
- Coverage under a parent’s plan
- Student health plans for college students
- Private health plans through the Marketplace
- Catastrophic health plans
- Medicaid coverage
But each individual is responsible for having health coverage that qualifies as minimum essential coverage. If you don’t enroll in a plan that meets the minimum essential coverage requirement, you may have to pay the fee for being uninsured, unless you qualify for an exemption.
If you are uninsured, you can find an insurance policy in the Health Insurance Marketplace, which opens again for enrollment on November 15. There are several ways to enroll. You may enroll online by yourself, you can fill out and submit a paper form, or you may use the help of someone called a navigator. You can visit healthcare.gov or call 800-318-2596, 24 hours a day, seven days a week, to talk with a trained representative.
By using the Smart Choice Health Insurance Consumer Workbook, individuals who need to buy insurance on the individual marketplace or compare employer-sponsored plans can get help to tackle the often-intimidating task of selecting health insurance coverage. The Smart Choice Consumer Workbook explains the health insurance buying process in plain language outlines differences in plans and highlights the factors that may influence consumer decisions. Smart Choice does not advocate for any one specific plan or source of plan but instead teaches consumers how to make their own informed decisions.
Additionally, if you want to learn more you can join Michigan State University Extension’s Learn How to Make the Smart Choice Workshop webinar (enter as Guest and type a name - you will be anonymous) so that you can make the best health insurance decision for yourself and your family.