<p>^^^ditto for us. our premiums will drop once both kids are off the policy. having one or both on it is the same price.</p>
<p>Same here.
My employer’s self funded policy has options different premium options for a single employee, husband and wife, and family. Doesn’t matter how many children.</p>
<p>
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<p>Because it costs us nothing as we have a family plan. Because our health plan is a pretty good one all things considered. And because one of my kids (who is 23 and now insured through a job) would have no way of obtaining an individual plan due to a pre-existing condition. And because, if she goes to grad school, our plan will be better for her than any university plan.</p>
<p>fynow - I wouldn’t assume that your employer is right about being exempt. They may think their lobbyists were successful in getting the grandfathered policies exempt from the reforms, but their efforts failed, I believe. Language in the bill, prior to reconciliation, exempted self insured plans. The lobbyists argued that the amendment to include the grandfathered plans argued that any change would be prohibited by the Byrd rule. That challenge failed and, in the Reconciliation, the exemptions were removed.</p>
<p>it’s great for people whose kids have pre-existing conditions, who want or need to take time off from school, and/or who need very good coverage, which they are less likely to get on their own.</p>
<p>Any self-employed people here?</p>
<p>I have great news. I just checked the reconciliation bill (I was trying to verify cartera’s post) – and it turns out that the reconciliation bill amends the IRS code section governing the self-employed health insurance deduction to allow deduction of insurance paid for “any child” of the taxpayer “who at the end of the taxable year has not attained age 27”. No other requirements (kid does not have to be dependent, living at home).</p>
<p>So this is great news for me-- I can subsidize my d’s insurance and get a write off for it. Of course that makes a pretty significant difference in terms of affordability. (And to dmd77 – I have no intention of paying my d’s insurance for the next 5 years – but it would be totally unrealistic to expect her to be able to pay the cost when she is graduating without a job lined up.)</p>
<p>calmom: does the “cal” mean you’re in California? Because, if you are, a nice high-deductible plan ($1000 deductible, $3000/year out of pocket limit) costs my son $49/month. I don’t know a lot of kids who can’t earn that much somehow, even if it’s mowing lawns for mom. Even my D’s luxurious plan (covers her BC pills, a few visits a year, much lower deductible) here in Oregon costs her only $110/month.</p>
<p>(I don’t know why similar plans in NY cost $300/month for kids the same age.)</p>
<p>FLASH: (dmd77, Oregonians/Washingtons)
I was refreshing my memory on Regence OR/WA rates for my 24yo. NEW rates and names for Regence that are different from 01Jan10. Rates appear to be significantly LESS EXPENSIVE and more options at least for the HDIP-HSA approved programs. Washington’s rates effective 01Mar10 and Oregon’s 01Ap10.</p>
<p>dmd…I’m in the same boat as others. I pay 18% of my insurance costs…college kid is ALREADY included in that amount. In addition, my policy is FAR better than the individual policies I could buy for her with similar benefits and deductibles.</p>
<p>Obviously if your children can be included without additional costs, it makes sense to include your children on the policy. The policy we provide our employees, and our own policy, counts each and every person. There is one rate for one person, another for a person and spouse, a third for a person and child, etc. Each child adds cost to the policy. While we pay 95% of the cost for the employee, we do NOT pay for the spouse or for children. It’s one way we keep the cost down.</p>
<p>Yeah, dmd, my son could get cheap insurance here (in California) too. Unfortunately I’ve had to pay more for my daughter because of all that female plumbing she comes with. </p>
<p>The insurance problem I have with my daughter currently is that while I live in California, she lives in New York. So once she graduates, she is going to be paying NY rates for insurance, not California rates. And she still has all that female plumbing.</p>
<p>Hopefully, my d. will find employment and get coverage that way. My son, who turns 27 next month, is covered through his employer. But it’s a tough job market for a newly minted college grad – I’m not going to hold my breath waiting for the job to come through.</p>
<p>You guys are the best source of information on the planet. One question I have NOT been able to answer: my son was dropped by my employer’s insurance when he turned 23 and now has his own. Can I add him back on in September? Or would he have had to be COBRA’d in the interim? I still have 30 days to retroactively elect COBRA so I really need to know. HR Dept says they don’t know! Thanks, guys.</p>
<p>krdirect-
We share the EXACT same situation. Our son was dropped Dec 31, we did NOT elect Cobra and now he has his own policy. I would LOVE to be able to add him back on in
Sept, but no one at my HR dept can answer yet. It is too late for us to COBRA so we’ll just wait and see.</p>
<p>If I were in your shoes, wondering to Cobra or not, I’d be more assertive than I’m being.
We had a dedicated Cobra phone line for questions, do you have such a thing?
Fun, isn’t it? Best of luck to us all!</p>
<p>Add me to the list…DD graduates in August…keeping kids on policy begins end of Sept. Do I pay the Cobra rate (willing to do so) for that month…or what???</p>
<p>thumper1, in your shoes, I would pay the Cobra rate for one month, just in case.
At $500+/month is our Son’s situation, we’d be pressed to pay for 10 months or so.</p>
<p>Doesn’t it seem FAIR to let the dumped kids back on till 27?
Let’s all send out good vibes to make it so…</p>
<p>Thumper,
The ‘kids on policy’ does not really start in September.
It has to be available at the next open season following the 6 month mark from when the bill was signed (late Septmber).
For federal employees that means open season in October for coverage starting January 1, 2011.
Our college junior kiddo turns 22 in August and loses coverage then (I don’t even think it goes to the end of the month!).
We looked into Cobra while the older kids were job searching; it was way cheaper to buy a private policy through e health insurance . com
That’s what we will have to do for the fall semester.</p>
<p>So I asked the HR dept at work but they do not have any more information than I have (possibly, less). So they can’t tell me whether I should COBRA (for 6 months) or let him use the emergency policy we just bought him, then add him on after Sept. I am not aware of a COBRA phone line, but they wouldn’t necessarily know either, would they? They would direct us to COBRA him, no doubt. Since HR does not know, what I need is a federal HSS type of person to tell me this, don’t I?</p>
<p>Sorry, krdirect.
I absolutely did not mean to say you were being timid in pursuing this!
Just recommended that you try to persevere since your child in still COBRA eligible, ours is no longer. So we’re lying low and waiting till Sept, son covered by individual policy.</p>
<p>What I was (inadequately) trying to relate was WHEN son was offered COBRA, the health insurer that covered son while on the plan sent numerous mailings about COBRA.
When to sign up, how to sign up, cost, length of eligibility, etc.
And there was a specific phone number offered for further questions.
It was a different number than the ‘regular’ number for the health insurer.
Hence, I dubbed it the ‘Cobra number’. sorry for the confusion.
Maybe in your mailings there is a number to call to ask.
Our HR office was also useless.</p>
<p>I wonder if there IS a national ‘cobra’ number that could answer us all for real?
Hmmm, a google search coming on…</p>
<p>The way I read the new law, insurers CAN charge to allow older children to be covered under their parents’ policies. It remains to be seen if my interpretation is correct. My H’s policy did allow us to purchase insurance for our S after he turned 22 @ $400+/month, while any other dependents we had were at no additional fee. </p>
<p>Under H’s policy, his employer (federal govt) pays the larger % of the family premium & employee pays the remainder. For adult children who age out @ 22+, the employee pays 100% of the premium to remain covered.</p>
<p>I’m not sure whether the insurer can charge the entire $400+/month or some lesser amount for children <27. </p>
<p>It would be great for us if their is no extra charge, as D may well turn 22 before she gets a job with benefits & I’m not sure how long S will remain employed with benefits with the current economy, or when his job & benefits will begin.</p>
<p>I think under the new law kids who are uninsured within the age limits have to be added back to the policy – as long as they are not eligible for other coverage through their work.</p>
<p>You have to look at the intent of the law. They are trying to create an avenue for insuring young adults who may not be able to afford to purchase insurance on their own. Overall, its a low risk group – so they’ve basically said, if a kid is 24 and not covered by employer insurance, the next place to go is the parents’ policy. I’d also interpret it to mean that a kid could move on and off again over the years, depending on their employment situation. </p>
<p>If they said that insurance companies could refuse a kid because the coverage had not been continuous, you are back to the same problem: young adults who can’t find affordable insurance and thus go uninsured. </p>
<p>As to the rates insurance companies charge - I don’t think the bill answers that, but I do think that the insurance company will have to set consistent procedures and act in good faith. That is, I don’t think that they can just turn around an jack up rates to avoid having to comply with the law. But on the other hand, I don’t think that they can be required to offer a single “family rate” that stays the same no matter how large the family or the age of the kids.</p>