Bank of America Plans Early Expansion of
Dependent Health Care Coverage
June 08, 2010 10:03 AM Eastern Daylight Time
CHARLOTTE--(EON: Enhanced Online News)--Bank of America has decided to begin early expansion of health
insurance coverage for dependents up to age 26 through an employee’s company health plans in advance of a
Under the bank’s current health coverage, dependent children up to age 19 can be covered under the employee’s
health plans. If the dependent is a full-time student, dependent coverage would end at age 24. As part of the Patient
Protection and Affordable Care Act, dependent children will be able to stay on an employee’s family health plans
until age 26 beginning next year.
Steps taken by Bank of America will mean currently covered dependents who are 19 up to age 24 will no longer be
required to be students, effective July 1, 2010. Beginning September 15, 2010, currently enrolled dependent
children age 19 up to age 26 can continue coverage under the employee’s company health plans in advance of the
implementation of the government requirement.
“This action represents the continued investment in our associates,” said Bank of America President and Chief
Executive Officer Brian Moynihan. “As a significant creator of jobs in the United States, and globally, Bank of
America is committed to providing a high-quality, comprehensive benefits package.”
Bank of America employs more than 280,000 associates globally, and in the U.S. offers associates a wide portfolio
of supportive benefits programs such as medical, dental and vision coverage; 12 weeks of paid paternity, maternity
and adoption leave; adoption financial aid; 401(k) with match and pension.
Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-
market businesses and large corporations with a full range of banking, investing, asset management and other
financial and risk management products and services. Th