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Student Health Insurance Coverage Doesn’t Last Forever

booksStudents graduating from college in May have a lot on their minds already. Finding a job and “finding themselves” are not easy tasks. With all these existing pressures, the last thing a new graduate needs is to find themselves without health insurance. A friendly reminder to students – As the school year ends, so does the student health coverage you had through your university. Typically, a college plan will run out within months of graduating. Don’t be caught without health insurance. Consider your options.

Parents’ Health Insurance Plan

Under the Affordable Care Act, young adults can now stay on their parents’ health insurance plan until they turn 26. Adult children can join or remain on their parents’ plan even if they are:

  • married
  • not living at home with family
  • attending school
  • not financially dependent on their parents
  • eligible to enroll in their employer’s plan

Individual Health Insurance

There are several options for young adults who need individual health insurance. The premium prices vary greatly based on the level of coverage you choose. Many healthy people in their twenties opt for low premium catastrophic coverage. These plans are carry a high deductible and are designed to protect you from financial stress due to a major unexpected injury or illness.

Short Term Health Insurance

Students who are actively interviewing and expecting to land a job that offers group health insurance in the near future may just need a short term policy. Short term policies are inexpensive, but will only cover catastrophic illnesses or injuries. A short term health insurance plan will not provide coverage for medications or doctor visits.

With all this in mind, students – it would appear that you still have a bit of studying to do. Fear not, though – it’s for your own good.

Group Health Insurance, Health Care Reform, Individual Health Insurance