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New law. Kids on insurance until 26. What are the details?
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<blockquote data-quote="beentheredonethat" data-source="post: 765505" data-attributes="member: 4886"><p>With the new obamacare law, yes it really is that much different. Currently, if you want to help out and pay expenses for your "ADULT" child that is 24, 25, 26 that is fine and you can do whatever you want. Weather that help is in paying for insurance for them, giving them gas money, rent free place to stay. All that is your perogative. However, with the new law, now companies have to pay to support these "ADULT" children. The big issue is that it's a safe bet that UPS will say hey, this new law cost UPS 100 Million, so out of the goodness of our heart, we'll increase the payments we make to the insurance company by this amount. NO WAY, what will happen, is that they will increase co pays, increase deductibles, reduce what is covered so they aren't out that 100 Million. In other words everyone elses insurance is going to cost more, because some people don't have "ADULT" children who can make it on their own. As another poster said, by the time I was 26, I had been out of college for over 4 years, been working at UPS for 5 years and already had health insurance on my own thru my company. Another thing to consider, when making a choice to work at a company, there are multiple factors, pay is obviously a huge one, but also benefits. So even if you have a successful child that graduated college and is 22. He\she can take a job making more salary, but have no benefits but get benefits thru "OUR" insurance. Or he\she could have gotten a job with a lesser salary, but having benefits. Sure, if I were the child, I'd take the first option, but is that fair to us?</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 765505, member: 4886"] With the new obamacare law, yes it really is that much different. Currently, if you want to help out and pay expenses for your "ADULT" child that is 24, 25, 26 that is fine and you can do whatever you want. Weather that help is in paying for insurance for them, giving them gas money, rent free place to stay. All that is your perogative. However, with the new law, now companies have to pay to support these "ADULT" children. The big issue is that it's a safe bet that UPS will say hey, this new law cost UPS 100 Million, so out of the goodness of our heart, we'll increase the payments we make to the insurance company by this amount. NO WAY, what will happen, is that they will increase co pays, increase deductibles, reduce what is covered so they aren't out that 100 Million. In other words everyone elses insurance is going to cost more, because some people don't have "ADULT" children who can make it on their own. As another poster said, by the time I was 26, I had been out of college for over 4 years, been working at UPS for 5 years and already had health insurance on my own thru my company. Another thing to consider, when making a choice to work at a company, there are multiple factors, pay is obviously a huge one, but also benefits. So even if you have a successful child that graduated college and is 22. He\she can take a job making more salary, but have no benefits but get benefits thru "OUR" insurance. Or he\she could have gotten a job with a lesser salary, but having benefits. Sure, if I were the child, I'd take the first option, but is that fair to us? [/QUOTE]
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New law. Kids on insurance until 26. What are the details?
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