It’s that time of year again: back to school season. For many parents, this means making sure your children have the school supplies they need to succeed, from pencils and binders to books and even electronics.
When it comes to insurance and benefits coverage for older children, particularly those who are heading to college or university, whether it be for the first time or returning for another year, there are a couple of key things to consider. First, you may wish to speak to your auto insurance provider to make sure that your child is appropriately covered on your policy, as there may be differences depending on whether they will be living at home or not for the academic year.
Additionally, back to school season is also an important time to verify if your college or university age child qualifies as an over-age dependant on your group benefits plan. Here’s what you need to know about coverage for over-age dependants.
When it comes to insurance, dependants can be your spouse and any children you may have under 18 or 21 years old, depending on your insurance policy. However, for children to continue to be covered by your insurance policy after this point, they must meet specific eligibility criteria. If they do, they will be considered an over-age dependant. The criteria are as follows:
Children who cannot financially support themselves because of a disabling condition may also be considered an over-age dependant, even past 25 or 26 years old.
Of course, you should verify your child’s eligibility under your specific insurance policy, as specifics can vary slightly.
As your child gets older, there are several scenarios in which you should communicate with your insurance provider or benefits contact at your company. Doing so helps you maintain coverage for your dependant child with minimal interruption and keeps your plan details accurate.
These scenarios include the following:
When your dependant children are young, maintaining benefits coverage usually requires little effort. As mentioned previously, you are required to fill out a form when your child reaches the age of majority indicated in your insurance policy to maintain their coverage. Once again, this ranges from 18 to 21 years old, though the most common is 21.
Maintaining coverage for an over-age dependant, doesn’t necessarily end at this stage.
When coverage is available for over-age dependants on your insurance policy, it may not be automatic for the entire time they are eligible for it. This means that insurers can terminate coverage for your over-age dependant child each year by the end of August. To avoid this happening, you may need to provide proof of their qualifying student status for the upcoming school year.
We recommend setting a reminder to review your plan, complete necessary forms, and provide additional documentation in advance of September each year. This way, you should avoid any surprises or coverage lapses.
Back to school season isn’t only about making sure your child has the right supplies, books, and clothing to help them succeed in their studies. Maintaining insurance and benefits coverage for your child as long as they’re eligible as an over-age dependant can help you make sure their health care is protected as well – and provide them with the confidence they need to move forward.
For more information regarding dependant coverage, including for over-age dependants, on your specific group benefits plan, please contact your Benefits Consultant.