Okay, here's a case I'm, uh, "aware of":
A gal turns 21 and is no longer under Mom and Dad's medical insurance. She earns about $200/week and is barely getting by. She is not their dependent. She is not going to school. Her employer offers no medical coverage.
She's not worried. Apparently young adults never get seriously ill or have car accidents, etc. "The people I work with just get Medicaid."
In her state, she might have earnings low enough to qualify for State medical assistance.
Mom and Dad know that, although she's an adult and can make her own decisions, they will pay any medical expense needed to assure she stays healthy. But, Mom and Dad don't have $200K in spare cash to pay for these expenses. Of course, neither did they budget for another insurance premium.
Can a parent buy a high deductible plan on the individual market to pay the medical expenses for a non-minor child? Would such a policy make the child ineligible for Medicaid? Is there a smarter way for a parent to protect themselves and their kid from stupid decisions and budget-breaking medical expenses?
Of course, this is just a hypothetical question . . .
A gal turns 21 and is no longer under Mom and Dad's medical insurance. She earns about $200/week and is barely getting by. She is not their dependent. She is not going to school. Her employer offers no medical coverage.
She's not worried. Apparently young adults never get seriously ill or have car accidents, etc. "The people I work with just get Medicaid."
In her state, she might have earnings low enough to qualify for State medical assistance.
Mom and Dad know that, although she's an adult and can make her own decisions, they will pay any medical expense needed to assure she stays healthy. But, Mom and Dad don't have $200K in spare cash to pay for these expenses. Of course, neither did they budget for another insurance premium.
Can a parent buy a high deductible plan on the individual market to pay the medical expenses for a non-minor child? Would such a policy make the child ineligible for Medicaid? Is there a smarter way for a parent to protect themselves and their kid from stupid decisions and budget-breaking medical expenses?
Of course, this is just a hypothetical question . . .