Due to a new state law being passed families would now be able to keep their unmarried children on group health insurance policies till the age of 29. The governor of the state also signed a law which is an extension of COBRA from 18 months to 36 months. The COBRA has been provided to employees who have lost their jobs in the option to continue health coverage provided under the group health plan.
According to source more than 30 percent of 2.5 million uninsured NewYorkers were between the age group of 19-29. Till tody many people became ineligible for coverage under the parents policy after 19 years of age, when they graduated from college. This new law would allow parents to keep unmarried children who don’t have health insurance on their policy. As a result of which the children won’t be required to be financial dependent on parents or live at home.
This law stated by New York State does not require employers to subsidize the coverage. Parents would like to pay full coverage or say premium for the child if the employer decides not to pay part of cost to it.
Such a law would prove helpful to those whose children have pre-exitising medical condition and can afford to pay full premium. The healthy kids whose parents have expensive policies would like to do better than other options who have Family Health Plus. There was a similar law which was extending coverage for dependent children in NewJersey which would raise maximum age limit from 30 to 31. Many people have taken advantage of this law since 2005 whose amount has rose to around 100,000.
Also a large number of NewYorkers could buy the coverage under COBRA law but the exact amount is still unclear. The latest federal labor statistics show that the state has an 8.7 percent increase in unemployment rates with an increase of people who are forced to cut down on part time hours in their jobs. Many of this jobs could also lead to employer-based coverage and would need COBRA.
According to source more than 30 percent of 2.5 million uninsured NewYorkers were between the age group of 19-29. Till tody many people became ineligible for coverage under the parents policy after 19 years of age, when they graduated from college. This new law would allow parents to keep unmarried children who don’t have health insurance on their policy. As a result of which the children won’t be required to be financial dependent on parents or live at home.
This law stated by New York State does not require employers to subsidize the coverage. Parents would like to pay full coverage or say premium for the child if the employer decides not to pay part of cost to it.
Such a law would prove helpful to those whose children have pre-exitising medical condition and can afford to pay full premium. The healthy kids whose parents have expensive policies would like to do better than other options who have Family Health Plus. There was a similar law which was extending coverage for dependent children in NewJersey which would raise maximum age limit from 30 to 31. Many people have taken advantage of this law since 2005 whose amount has rose to around 100,000.
Also a large number of NewYorkers could buy the coverage under COBRA law but the exact amount is still unclear. The latest federal labor statistics show that the state has an 8.7 percent increase in unemployment rates with an increase of people who are forced to cut down on part time hours in their jobs. Many of this jobs could also lead to employer-based coverage and would need COBRA.
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