Dependent child Health Insurance question?

Question

Currently 23 years old and going to College(graduating in Dec 08). Right now I recieving insurance through my dads work. My question is I plan on applying this year as indpendent so I can get finacial aid my last semester. Will I be dropped form my dads insurance? How long before the insurance company finds out? After graduate I'll get my own insurance but until then I would like to be able to use my dads. (Will it help if I file my taxes as dependent)

Answer 1

You will have to read your dads policy to see how dependents are covered.  Some insurance cover a child up to 25 as long as they are a full time student others stipulate that in addition to being a full time student you must also be a dependent and claimed on your parents taxes.

As far as when the insurance company will check, that is usually when they receive a claim.  the claim is put on hold and they write a letter to the insured asking for documentation showing that you meet the criteria to be covered.  

So, even if the insurance company hasn't canceled you, you very well could have your claim denied.  The policy will say that it is up to the insured to notify the company when their dependent status changes.

Answer 2

I'm surprised you weren't dropped at 22.  My insurance dropped my son, who was still in college, at 22.

Answer 3

It depends upon the insurance company and the plan you have. Some companies will drop you if you are no longer a dependent while others don't care. Each company also has different age limits, some companies will allow you to stay up to age 25 as long as you are in college while other companies will now allow up to age 30 even if you're not in college as long as you're not married and living at home (it doesn't matter with this company if you are a tax dependent).

So the only way you will know is to call the insurance company.