Graduation Day Brings Many Changes - Including Loss of Health Insurance.
Many private insurance policies allow dependant children to remain on their parents health insurance plans while they are away from home attending college, but often those benefits end upon graduation.
Most recent grads will not begin a full time job that may offer them affordable health insurance until at least after the summer. For others who face their first foray into a tough job market it may even be six months to a year, before the ideal position is found. Even those that have a promise of job soon after graduation, if it offers health coverage, those medical benefits may not kick in for three months.
Insurance experts agree that recent graduates are the ideal candidate for so-called "Gap" or short term insurance policies. These are low cost health insurance policies that offer very good coverage, but are designed to only be in effect for a specified period of time, usually between three months to one year.
While short term health insurance plans may not be as comprehensive as a full term private insurance policy; in other words they usually will not cover wellness visits or other preventive health care; they will cover unforeseen major health expenses that may result from injury or illness. This also makes a low priced short-term health insurance policy ideal for young graduates who are basically healthy, but may be doing some mountain climbing or jet skiing over the summer.
Mainly short term insurance policies are affordable. For example a man or woman in there 20's could expect to pay no more than $50.00 - $75.00 a month for a plan with a deductible of as a little of $1,000.00 dollars, depending on where they live and overall health and lifestyle.
As New Grads face an unpredictable world with many challenges ahead, at least short-term health insurance can give a little piece of mind.
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