Temporary health insurance and individual health insurance options
If you have recently graduated from high school or college and are on your way into the workforce, you've got a lot of important decisions to make — including figuring out your health benefits options — to keep you feeling and looking your best. allaboutthebenefits.com gives you the information you need to make better health benefits choices.
COBRA (Consolidated Omnibus Budget Reconciliation Act) If you're a recent graduate currently covered under your parents' health plan, you can extend this coverage for up to three years, but it's pricey. If you need a plan for longer than a few months and you're looking to save money, COBRA might not be for you. However, if you have a pre-existing medical condition like asthma or diabetes that would make it almost impossible for you to find an individual plan, COBRA could be a good option for you. Act quickly - students have just 60 days after graduation to notify their parents' insurers that they'd like a COBRA extension. Visit http://www.cobrainsurance.net/ for more information.
University Extensions: Not ready to let go of your alma mater quite yet? If you were a part of your undergraduate university's health plan, check to see if they will let you extend your plan past graduation. Many schools offer graduates the option to renew (often at a higher price) for up to a year. Contact your plan's customer service center or website for more information about continuing your health insurance.
Short-Term Policies: So you extended your summer vacation because you're not yet ready to enter the "real world." Need coverage for a couple of months before your first job starts? Short-term policies are available for periods as short as one month or as long as one year, and can cover you in the event of an expensive injury or illness. These plans aren't designed to pay for a doctor's office visit for a simple stomach bug or a case of the flu. They offer catastrophic coverage, meaning protection if you get into a car accident or break both your arms and legs (at that point, you'll have enough to worry about). Things always happen when you least expect it, right? One other thing to consider: short-term policies are often much cheaper than COBRA or university extensions but usually don't cover pre-existing conditions or provide as many benefits.
Individual Insurance Plans: After years of pouring over textbooks and homework, you've decided to take a well-deserved break from school for an indefinite amount of time. While you enjoy yourself, jobless and homework-free, consider an individual health insurance plan. This can cover you in the short-term, long-term, or anywhere in between. Go to www.eHealthInsurance.com to get a quote. Your local Chamber of Commerce, as well as alumni or professional associations, sometimes offer group coverage. You can also check your state's Insurance or Health Department for more options.
