Independence Blue Cross (IBC) said that it will extend health insurance coverage for young adults up to age 26 who are currently covered by their parents' individual or employer-sponsored health plans, effective June 1, 2010.
According to IBC, one of the provision that recently enacted Patient Protection and Affordable Care Act has made coverages available to adult children up to age 26 on the renewal date of their policy beginning on or after September 23, 2010.
By allowing these young adults to remain on their parents’ plans starting June 1, 2010, the company is helping families avoid a gap in coverage until new federal health care reform provision takes effect.
The company said that its extension applies to those dependents under 26 who currently have coverage and who would lose that coverage before the effective date of new law. The extension will become part of the company’s individual policies and will also be available to its fully insured employer groups.
In addition, IBC is also encouraging large employers who self-fund their coverage with the company to extend coverage to their employees’ adult children who would otherwise lose their coverage prior to the effective date of law.
Joseph Frick, president and CEO of IBC, said: We understand that parents are worried about their young adult children losing health care coverage. That’s why we are following the spirit of the health care reform law and working with our customers to allow young adults to remain on their parents’ plans until the dependent coverage requirement of the new law takes effect.