There are many health insurance options for recent grads. Whether you’re planning to move to a new city, start a new job, or experience other life changes, there are multiple ways to stay covered after college. After all, getting insured may not be as complicated as you may think. Here are the top four health insurance options for college graduates.
1- Enroll in Marketplace Insurance
You may qualify for a Marketplace insurance policy through either the Federal or State based exchange depending on your location. More people are eligible for Marketplace medical coverage now than in the past. Moreover, you may qualify for this coverage for the rest of 2021 if your current health insurance is ending, you are relocating to another state, or have had a life changing event.
2- Stay on Your Parent’s Insurance
Under the Affordable Care Act (ACA) new laws, young adults can remain on a parent’s health insurance until they are 26, as long as the health plan offers dependent coverage. So if you are covered under your parent’s insurance, you don’t have to rush to find new health coverage immediately after graduating from college.
3- Get Medicaid
Check if you are eligible for Medicaid because if you do, you can enroll right away. The good thing about Medicaid is that enrollment is available throughout the year and covers pre-existing conditions.
If you’re only starting out and aren’t making a lot of money, you may be eligible for low-cost or even free health coverage through Medicaid. You can then adjust your coverage when your income increases.
4- Employer Insurance
If you are hired soon after your graduation you may be eligible to join your employers health insurance plan. Typically there is a waiting period up to 90 days before you can enroll. If that’s the case one of the above options maybe appropriate to cover a gap in coverage. It’s advised you look closely at your employer health plan options as your can maximize the contribution they make to your benefits.
Consult Design Health for Your Health Coverage Today
Health insurance is paramount for any individual regardless of age. If you’re unsure where to start, please do not hesitate to contact us at DesignHealth for guidance. We will create an individual health plan perfect for your health needs and budget to help manage your medical costs in the best way.