Qualifying Life Event - IRS Section 125 - Ask Extension
I'm losing health insurance coverage from my father's employee plan when I turn 26 this month. The plan covers medical, dental, vision, and prescripti...
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Qualifying Life Event - IRS Section 125 #613419
Asked February 14, 2020, 1:05 PM EST
I'm losing health insurance coverage from my father's employee plan when I turn 26 this month. The plan covers medical, dental, vision, and prescription benefits. My current employer does not offer medical, only dental and vision through a PEO company. The PEO is telling me that I am not eligible for dental and vision because of IRS Section 125. Basically my fathers plan is all-in-one and I'm not eligible for standalone plans although me losing coverage is a life event. I would only be eligible if my fathers plan had dental and vision as separate coverage. Does this make sense or am I being jerked around?
DeKalb County Georgia
Expert Response
Good questions in your search for new healthcare insurance coverage! I do have a few suggestions:
1. Contact the Georgia Office of Insurance https://www.oci.ga.gov/ConsumerService/HealthInsurance.aspx to ask your questions about what your PEO is telling you and IRS Section 125.
2. I am not familiar with Georgia and whether or not they participate with the federal Health Insurance Marketplace https://www.healthcare.gov/get-coverage/, but since you are turning 26 and can no longer be on your father's plan, that is a qualifying reason for special enrollment this year.
3. Visit Smart Choice Health Insurance Basics https://extension.umd.edu/womeninag/smart-choice-health-insurance-basics from the University of Maryland Extension to find a workbook you can use to estimate the costs of various health insurance options for you and how they fit into your spending plan, plus other educational materials to learn more about health insurance.
Hope this helps!
