Until age 26, you can be covered under a parent’s health plan.

If you have a student health plan through your school, you are most likely covered under the health care law. If this is the case, you will not be required to pay a penalty. Even with access to a student health plan, you may opt to purchase a plan from the Marketplace instead.

If you are under 30, you are eligible for a Catastrophic Health Plan. Typically with lower monthly rates, these plans have higher deductibles. Catastrophic plans are a great way to protect yourself from high-cost injuries and serious illnesses.

When applying for insurance through the Marketplace, you will find out whether or not you qualify for Medicaid: a program that provides insurance coverage to people with low income. Qualification for Medicaid varies from state to state.