Obamacare Health Coverage for Young Adults Over 26

Doctor writing in patient&#039;s chart — (Image credit: Getty Images/Fuse)

When my daughter turns 26, can she get her own health coverage even if open enrollment is over? --V.S., Chicago

QUIZ: How Well Do You Know Obamacare?

Yes. Your daughter has up to 60 days after losing dependent coverage to buy an individual policy, even if open enrollment is over. She qualifies for a subsidy if she doesn’t have coverage through her employer, she’s single and earns less than $46,680, and she buys a policy through her state exchange (see www.healthcare.gov for links). She can also get quotes for policies on and off the exchanges at eHealthInsurance.com. If she goes without coverage for more than three months, she may have to pay a penalty in 2015 of 2% of her household income or $325, whichever is more.

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As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.