If your son or daughter is graduating from college, please pass on our congratulations to him or her! They have fulfilled an important promise to themselves, that will greatly impact their future.\r
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Now it’s time to evaluate another big life decision: What will your child do about health insurance?\r
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If they enrolled in their school’s health insurance plan for students, that plan will probably expire soon. The first thing your new graduate should do is call the plan administrator, and ask how graduating will affect enrollment in the plan. Since health conditions or accidents can strike at any age, going without insurance can create a significant financial risk. Now it’s time to begin evaluating their options.\r
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Option One: Join a parent’s health insurance plan.\r
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If your own’ health insurance plan covers dependents, children under age 26 can usually be added to it. Of course, this plan might, or might not, be a good fit for your child personally. Check the details carefully, so that you both understand provisions such as co-pays, deductibles, coverage limits, and provider networks.\r
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Option Two: Enroll in an Individual healthcare plan.\r
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Talk about “adulting”! Shopping for their own Individual healthcare plan can feel like a daunting process to your graduate, but it’s just one of a series of decisions that lead to greater independence.\r
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Normally, consumers can’t enroll in a health insurance plan outside of the annual Open Enrollment period, which begins in November. But your child might qualify for a Special Enrollment Period if they meet one of these circumstances:\r

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  • They’re losing your current health insurance (such as a school plan)

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  • They’re dropping off of their parents’ plan

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  • They’re moving away from the place they attended school

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  • They experience other major life changes, like getting married or having a baby

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The easiest way to know whether your young graduate will qualify for a Special Enrollment Period is to simply ask! Give us a call, and we can help you and your child evaluate the options and decide how to proceed.