Stay on Parents Plan Even if Eligible for Employer Plan?

Jan 29, 2016

  1. scagnt83
    Offline

    scagnt83 Worldwide Expert of Everything

    Posts:
    6,940
    Likes Received:
    463
    State:
    South Carolina
    If a 24 year old is eligible for an employer sponsored plan. And that employer sponsored plan meets all of the necessary obamaBS guidelines. Is the 24 year old still eligible to stay on their parents plan? Or do they have to take the employer plan?
     
    scagnt83, Jan 29, 2016
    #1
  2. Tkruger
    Offline

    Tkruger Guru

    Posts:
    1,191
    Likes Received:
    1
    State:
    Florida
    If the 24 year old is employed how can they be claimed as a dependant on the tax form?

    If they are not claimed as a dependant then they have to take the employer plan unless the costs of the plan exceed the affordability threshold.

    If the plan exceeds the affordability threshold then the 24 year old should be on their own OE plan.
     
    Tkruger, Jan 29, 2016
    #2
  3. ctg
    Offline

    ctg Guru

    Posts:
    483
    Likes Received:
    0
    State:
    Iowa
    They can stay on until age 26. They could be married or living at another address.

    My 20 year old step-son lives with us and he is on his Dad's employer plan.
     
    ctg, Jan 29, 2016
    #3
  4. Tkruger
    Offline

    Tkruger Guru

    Posts:
    1,191
    Likes Received:
    1
    State:
    Florida
    They have to be able to be claimed as a dependant. I believe the OP is referring to a marketplace plan for the Family. Completely different situation then the one you are referring to.
     
    Tkruger, Jan 29, 2016
    #4
  5. scagnt83
    Offline

    scagnt83 Worldwide Expert of Everything

    Posts:
    6,940
    Likes Received:
    463
    State:
    South Carolina
    Im not sure if it is a marketplace plan or not. Does it matter if it is employer sponsored or an exchange plan?
     
    scagnt83, Jan 29, 2016
    #5
  6. Yagents
    Offline

    Yagents Guru

    Posts:
    10,428
    Likes Received:
    387
    State:
    Arizona
    24 yr old can stay on parent's group plan paying full price to age 26 (regardless of tax status or dependent)

    24 yr old can NOT stay on parents subsidized exchange plan if he has access to a qualified compliant affordable group plan at his own employer. Tax dependent or not.

    If non subsidized exchange plan, he can stay on the exchange plan to age 26, and decline his own group.
     
    Yagents, Jan 29, 2016
    #6
  7. scagnt83
    Offline

    scagnt83 Worldwide Expert of Everything

    Posts:
    6,940
    Likes Received:
    463
    State:
    South Carolina
    Thanks for the help guys.
     
    scagnt83, Jan 29, 2016
    #7
Loading...