Calling All Graduates! You Have Health Coverage Options
Graduation is a remarkable milestone. As you enter the next phase of your life, it’s critical to have a health coverage plan to protect you from unpredicted medical expenses.
What is the advantage of getting health insurance?
- Nobody expects to become ill or injured, but harmful incidents happen, even to young, healthy people. A broken leg can cost $7,500 for its treatment, and a three-day hospital stay can cost $30,000. That’s a lot of money, especially when you’re just getting started!
- Applying for the Marketplace program may be easier and faster than you think. You can find if you qualify for a health plan with income-based savings with just one application. You might be eligible for complimentary or low-cost insurance coverage through Medicaid.
Keep in mind: You can buy coverage through the Marketplace program if someone claims you as a tax dependent, but you won’t be eligible for savings based on your income.
How to obtain low-cost health insurance
- If you are under 30, you have several options for obtaining health insurance, some of which are tailored specifically for you.
- If you are below the age of 26, you may be able to join your parents’ health insurance plan.
- You can buy your Marketplace insurance plan through Insurance Shopping. Based on your circumstances, you might be eligible for income-based savings.
- If your student health plan expires, you move to a new state, or you experience some life changes, you may get approved for the (SEP) Special Enrollment Period to enroll in Marketplace coverage for the remainder of 2022.
- This means you won’t have to wait until the next Open Enrollment Period in the fall to apply for 2022 health coverage.
- Click to see if you’re eligible to apply right away.
Learn more about health insurance options for young adults.
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About the Author: Daniel Greene
I’m Daniel Greene, and I write for InsuranceShopping.com to help U.S. consumers better understand and compare auto, home, health, life, and Medicare coverage. My articles focus on breaking down complex insurance topics, from policy features and premium factors to timely updates on plan changes and enrollment periods. I’ve spent years researching the insurance landscape and consumer protection guidelines, which allows me to provide clear, practical guidance for people navigating major life events or simply looking to lower their costs. My goal is to give you the facts you need to make informed decisions without the industry jargon.
