If offered a job that provides insurance, is it better to stay on your parents plan until you’re 26 or to take the insurance option?

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Posted by Cali Slepin (MONEY FORUMS: 4, Answers: 0)
Asked on March 1, 2016 9:49 am
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Cali, there are a few things to consider. First of all, I would make sure that your parent’s insurance would cover you in the state/with the doctors you want to use in your new location. Second, ask your folks if it actually costs them money to keep you on their insurance. If you have other, younger siblings, it probably doesn’t. If you are the last child on the plan, if might. Finally, compare all costs beyond the premium (monthly payments). What is the deductible of the two plans? What are the co-pay amounts and/or co-insurance amounts? What about prescription drug co-pays? Try to estimate your total costs under your two options and see which would cost you less for a "normal" year. That might help you decide.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: March 1, 2016 10:48 am