Published: Tuesday, July 31, 2007
Health care
Options for grads
Health-care options for uninsured recent graduates as recommended by the Ohio Department of Insurance:
COBRA coverage: The Consolidated Omnibus Budget Reconciliation Act allows a graduate to continue on his or her parents' coverage for about 36 months under certain circumstances. Check with the company's human resources department for eligibility requirements.
HIPAA coverage: If the individual has 18 months of continuous group health coverage and is not eligible for COBRA or COBRA has expired, he or she may be eligible for the Health Insurance Portability and Accountability Act plan. Applicants must sign up within 63 days of losing previous coverage. Call (800) 686-1526 for more information.
Short-term insurance: Many alumni associations and private companies offer this option to recent graduates. Plans can be purchased on a month-to-month basis or in six- to 12-month intervals. Those with pre-existing medical conditions are often not eligible.
High-deductible major medical policy: A high-deductible insurance policy from a major health care provider can provide the right balance of protection and affordability for individuals on restricted budgets.
Discount health plan: If insurance is unaffordable, discount health plans, which offer health services at discount rates, can serve as an alternative. Ask about discount health plans with a licensed insurance broker.
Source: Ohio Department of Insurance
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