In recent financial news, many young people who are reaching the age of twenty six are having trouble when it comes to health insurance. Health insurance is an important part of personal finance planning. Without health insurance, you will not be able to afford various health benefits.
However, although young people can remain on their parents’ health insurance plan until they are twenty six, they can not do so afterward. Many people are simply confused about health insurance and do not know where to start and which insurance plan to choose.
One reason for this is the tax plan that is currently being considered by the Senate. Obamacare stipulated that young people leave their family insurance plans when they reach twenty six years of age. However, things have changed because of the tax plan, and there is more confusion.
One example, according to CNN Money, is Marguerite Monnot. She had to go to an advisor to figure out which health insurance plan in Virginia was best for her after falling off her parents’ plan, which her father got as part of his work as an architect.
The government cut outreach and marketing, which is also hurting people searching for health insurance. Besides, the window for signing up for new health insurance became increasingly narrow. The Affordable Care Act had made healthcare affordable for many young adults, and that should not change.