About My Health Careers Internship MedBlogs Contact us
Medindia LOGIN REGISTER
Advertisement

Insurance Plans after Graduation

by Medindia Content Team on May 8, 2006 at 12:10 PM
Font : A-A+

Insurance Plans after Graduation

After graduation students have to apply for a separate insurance scheme as they would no longer be covered by their parents insurance scheme. But some may feel that they can go without insurance to save money which proves to be disastrous if they are injured or diagnosed with a serious medical problem. Even those who find jobs right away can be without insurance for a few months since there's often a waiting period before employer-sponsored coverage is bestowed on the new comer.

According to a study by the Commonwealth Fund, a nonprofit researcher in New York it was found that more than half of adults who were uninsured last year reported problems with medical debts. People 19 to 29 were the group most often uninsured. Larry Akey, a spokesman for America's Health Insurance Plans, a trade group in Washington, D.C talks about the insurance plans to the students. He says that the school-sponsored insurance is through the summer.

Advertisement

In case of parents' plan, then it will not cover the health expenditure as soon as one receives a diploma. Tom Billet, a senior health benefits consultant in Stamford, Conn., with Watson Wyatt Worldwide adds that in case your parents' plan is self-insured then you're more likely to be considered a dependent eligible for coverage until the end of the year. But recently some states have passed laws that have increased the age limit to 23 to receive full time student insurance.

New Jersey increased the age of dependent status for health insurance to 30. Colorado expanded the age for dependents up to age 25. But all these extensions may not apply if the person receives health insurance through a self-insured company or the federal government. Even short term health insurance is available which cover for a period of one month to one year.
Advertisement

It is cheaper than regular health plans and can be found online or through traditional insurance brokers. A traditional individual policy will remain in effect until you stop paying premiums, which will help you pull through a serious injury or illness. Phil Alban, an independent insurance broker in Albany, N.Y says that Cobra coverage which is authorized by the Consolidated Omnibus Budget Reconciliation Act of 1986 is the costliest for young people but is worth it.

Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Advertisement
News Category
What's New on Medindia
Fermented Skin Care
Television Binge-Watching May Boost the Risk of Deadly Blood Clots
Western Diet may Augment the Risk of Autoimmune Diseases
View all

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Star Health and Allied Insurance ICICI Lombard General Insurance Company Limited Health Insurance - Ombudsman Health Insurance - Basics New India Assurance Policies Awareness about Healthcare Insurance in India Premium Calculation by Health Insurance Companies Fraudulent Health Insurance Claims Key Procedures for Filing a Healthcare Insurance Claim Latest on The New India Assurance Company Ltd 
Recommended Reading
Awareness about Healthcare Insurance in India
A basic awareness about Indian health insurance for any layman for quick reference presented in a cr...
Fraudulent Health Insurance Claims
To educate the public regarding hazards of committing fraud in healthcare insurance claims and its i...
Health Insurance - Basics
Health insurance guarantees payments to a person in the event of sickness or injury.and works as pr...
Health Insurance - Ombudsman
Insurance Ombudsman institutions work for the purpose of quick disposal of the grievances of the ins...
ICICI Lombard General Insurance Company Limited
Major health care plans from the ICICI Lombard include complete health insurance ihealth plan, perso...
Key Procedures for Filing a Healthcare Insurance Claim
keep yourself well informed about the claim process and avoid frustration of your claim getting ......
New India Assurance Policies
The existing Mediclaim and Health Plus Medical expenses policies have been discontinued and Mediclai...
Premium Calculation by Health Insurance Companies
This article gives an insight as to how healthcare insurance policy premiums are collected by Insura...
Star Health and Allied Insurance
Star Health & Allied Insurance offers a convenient insurance for the corporate people when they tra...

Disclaimer - All information and content on this site are for information and educational purposes only. The information should not be used for either diagnosis or treatment or both for any health related problem or disease. Always seek the advice of a qualified physician for medical diagnosis and treatment. Full Disclaimer

© All Rights Reserved 1997 - 2022

This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use
open close
CONSULT A DOCTOR
I have read and I do accept terms of use - Telemedicine

Advantage Medindia: FREE subscription for 'Personalised Health & Wellness website with consultation' (Value Rs.300/-)