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Health care bill will allow college grads to rejoin their parents' insurancePosted On Tue, June 15, 2010
Those out-of-work recent college graduates who are left trying to bridge the gap between their parents' health insurance and insurance from an employer may finally have some help.
Under the new health care law, children will be able to stay on their parents' insurance until their 26th birthday, according to a report in the Washington Post. However, the paper warns that while some insurers are offering such coverage now, they won't be required to do so until January 1, 2011, the most common open enrollment period after the September 23 deadline.
The paper advises that parents maintain coverage on their children until they are 26 or have dependable insurance of their own through an employer.
The Obama administration, meanwhile, warned employers against increasing the health care costs for their workers, the AP reported. Doing so would greatly increase the likelihood of federal interference in private business practices, it said. A new regulation outlined what would cause a health plan to lose its "grandfathered" status, including dropping coverage for specific health problems and increasing annual deductibles and co-pays.
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