When you take another trip around the sun and turn 26, you are no longer eligible for health insurance on your parents’ health plan. Covered California’s Chief Medical Officer Dr. Monica Soni reminds you that having health insurance is about much more than just going to the doctor and getting yearly checkups. It is about having peace of mind knowing that the care you deserve is covered – everything from lab work, mental health care, to free preventive care services.

 Dr. Soni shares 5 Crucial Tips to Understanding Coverage

 Turning 26 is a Qualifying Life Event

Turning 26 is an exciting milestone and is considered a qualifying life event for getting coverage through the Affordable Care Act (Obamacare), which means the standard annual open enrollment period to sign up for a health plan does not apply. An individual typically has a 60-day window to apply for insurance to avoid gaps in coverage during the Special Enrollment Period from February through October.

2. Explore Options Early

Even if you are perfectly healthy, having health insurance is essential. Find out when your coverage ends well in advance and research your options without feeling rushed.  Compare plans in your area, see estimated monthly costs, explore services covered and see what financial help is available to you by visiting CoveredCA.com.

3. Utilizing Essential Health Benefits

Every plan offered through Covered California includes a comprehensive package of items and services, which means every plan covers items like prescription medications, wellness screenings, emergency and hospital services and mental health treatment.

4. Look Beyond the Monthly Premium

It is a common mistake to focus solely on the monthly premium. A plan that looks inexpensive at first glance may end up costing you much more in the long run if it features a high deductible or significant out-of-pocket expenses.

When comparing different health plans, make sure you evaluate the complete picture:

• Monthly premiums: The amount you pay each month to keep your coverage active.
• Deductibles: What you pay out-of-pocket before your insurance kicks in.
• Copays and coinsurance: Your cost-sharing responsibilities for medical services and visits.
• Annual out-of-pocket maximums: The absolute cap on what you would have to pay in a single year for health care services.
• Prescription drug coverage: How much your medications will cost under the plan.
• Provider networks: The doctors and medical groups included in the plan.
• Access to specialists and hospitals: Your ability to see specific medical experts and utilize certain facilities.

5. Beware of “Hidden Costs”

Hidden costs are often the biggest shock for first-time health insurance buyers. Look at the total cost of coverage rather than just the monthly bill. Opting for a lower monthly premium is a trade-off that often comes with higher deductibles, larger copays, higher prescription drug costs and limited provider networks.

Learn more at CoveredCA.com or visit one of the 14,000-plus certified agents or community-based organizations across the state that provide free, confidential help.