Editor's Note: Selecting health insurance is a highly personal decision and there are numerous choices in the market. The Post has tried to compile a basic guide to some common options, but graduates should discuss health insurance with trusted advisers or parents before making a decision.
When Morgan Weidinger graduates in June, she expects to lose health care coverage through her parents' insurance plan shortly after that.
The senior studying visual communications is searching for jobs and considering international opportunities, including the Peace Corps, which she hopes will provide health care benefits. Although Weidinger has started thinking about health insurance, it isn't one of her top priorities.
I don't go to the doctor often; I'm in pretty good health
she said. I could go a few months without coverage I think.
In 2007, about 28 percent of U.S. citizens aged 18 to 24 years were uninsured, according to the U.S. Census Bureau Web site.
When graduation day arrives, OU graduates covered by the student health insurance plan will have about two months before their policy expires, and those covered by their parents' plans frequently lose coverage when they graduate or, if they continue their education, when they turn 24.
I think college graduates generally think they're invincible said William Foudy, president-elect of the Association of Health Insurance Advisors. I think (health insurance) is critical. You never know what's going to happen.
Short-term health insurance plans are available to fill the gap between graduation and a job that may provide health care coverage. Students should shop around for a plan that best fits their health care needs and financial situation, said Jackie Legg, interim director of OU's student health service.
Make sure that you understand how much risk you're willing to assume
Legg said. Make sure you understand what's excluded on the plan.
Before choosing a plan, students should consider what kind of services or medical conditions the plan excludes in addition to the size of the deductible, or the amount they will pay out-of-pocket before the insurance provider begins footing the bill, Legg said.
Legg said she recommends that students consult with an insurance broker who can help them find a plan that is both affordable and appropriate to their needs. Students can search for licensed agents statewide through the Ohio Association of Health Underwriters Web site at http://www.ohioahu.org.
Pre-existing conditions
Although short-term insurance plans provide a financially feasible option for some graduates, they typically do not cover pre-existing medical conditions including asthma, diabetes and pregnancy.
You do have to be a wise consumer and really read the rules about the coverage
Legg said.
Graduates with medical conditions have a few options for coverage, whether temporary or long-term, said Doug Anderson, chief policy advisor for the Ohio Department of Insurance.
A graduate may be eligible for COBRA coverage, or the federal Consolidated Omnibus Budget Reconciliation Act, which extends coverage under a parent's employer-provided health insurance policy by up to 18 months, Anderson said.
As part of the COBRA plan, the employee assumes the employer's share of the contribution and pays 102 percent of the expense, which includes a surcharge, Foudy said.
For a long-term plan, graduates who have had at least 18 months of continuous health care coverage through a group plan, such as student insurance or a parent's employer, may be eligible for a plan through the Health Insurance Portability and Accountability Act or HIPAA, he said.
HIPAA coverage prevents insurance companies from denying coverage to people with medical conditions during annual open-enrollment periods that are required by Ohio law. Every year on Jan. 1, insurance companies must accept eligible consumers, regardless of medical condition, on a rolling basis until they meet their quota, Anderson said, adding that health maintenance organizations, or HMOs, must do the same during one month every year.
Both COBRA and open enrollment plans, however, can be very expensive, he said. Open enrollment participants could pay anywhere from $800 to several thousand dollars a month depending on the company, Anderson said, adding that less than 2,000 people in Ohio participate in the program.
Open enrollment is a legal requirement
but practically
it's just a program that doesn't work because nobody can afford it
he said. They're pretty slimmed-down plans ... but they do provide you with coverage.
mm164705@ohiou.edu
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