Most insurance companies notify their customers months before the rate increase takes effect. So I suspect that people will know before election day in November that their premiums will be going up on January 1.
Actually it looks like 26 year olds will be covered in six months:
“Federal Action
The U.S. House of Representatives Sunday approved a Senate health overhaul bill and sent it tothe president for his signature. The House also passed a package of amendments that will change provisions of the original bill. That was sent to the Senate for action this week. This reform would requires health plans to allow young people up to their 26th birthday ( H.R. 3590, the “Patient Protection and Affordable Care Act “) or 27th birthday (H.R. 4872, the “Reconciliation Act of 2010) to remain on their parents’ insurance policy, at the parents’ choice regardless of marital status and would be effective 6 months after enactment.The legislation was the subject of a fierce partisan battle and passed with only Democratic votes. Republicans have vowed to continue their opposition.”
http://www.ncsl.org/default.aspx?tabid=14497
However, my husband’s coworkers were real happy about 26-year olds being covered under their parents’ insurance.
“Most insurance companies notify their customers months before the rate increase takes effect. So I suspect that people will know before election day in November that their premiums will be going up on January 1.”
I honestly can’t remember when we were told our insurance rates would increase, but it seems like it was in Nov. sometime.