3 Reasons Your Grad Needs Health Insurance
Now that your child has graduated from college it is more important than ever that they have health insurance. There are three reasons why this important.
1) Being Without Health Insurance is Costly
According to Hawaii Health Connector, the new Hawaii Healthcare Exchange, an uninsured person who has a 5-day stay in the hospital could cost as much as $27,000. That’s some big bucks. Remember a car accident, food poisoning, a fall, or emergency surgery like an appendectomy could cause your graduate to end up in the hospital for a few days.
2) Individual Insurance May Cost Less Than Staying on Your Coverage
If your grad is healthy there are plans that will have a lower monthly premium than being covered under your work or family plan. An example of an inexpensive, but pretty comprehensive plan is SmartSense. SmartSense offers such benefits as first three doctor’s visits at $30-35, free immunizations, and generic drug coverage -all before the deductible is met.
Remember that if your grad has preexisting condition s/he should stay on your plan, because it may be difficult for your grad to qualify insurance.
3) Small Businesses May Not Offer Health Insurance
Your grad may find that once they are out working, companies are offering less and less benefits. Small businesses are less likely to offer health insurance than in the past, so it is important that your grad find his or her own insurance. As well as companies are making sure that their employees are not qualifying for insurance by keeping them just a few hours short of full time.
For the future:
After January 2014, preexisting conditions will no longer preclude your graduate from any health insurance plan, but only companies with 50 or more full time employees are required to offer health insurance. It is best that your graduate find a plan that fits their needs now, and determine later which is best as the new plans role out.
If you have any further questions on how to protect your graduate from major medical expenses or tips on how to talk them call 800-930-7956 or contact Medicoverage.