<p>This time around, we are seriously considering the college-sponsored health insurance plan for S. Our own insurance is mega-high deductible, no Rx benefit etc. etc. The premium to include him is ~$1100/year. The school-sponsored plan for him is ~$1300 (12 month plan) with superior benefits, Rx coverage, covers him in our home state as well as at school, while travelling, etc.</p>
<p>The question I have is this: once he graduates from college and is eligible for neither the school-sponsored nor our plan, what next? The school-sponsored does not offer COBRA/continuity of coverage. So if his prospective employer doesn't have a good plan or he (shudder) has no prospective employer immediately after graduation, what would he be facing? Anyone with experience?</p>
<p>In our state (WA) Blue Cross has affordable high deductible catastrophic coverage. For most young people a high decuctible catastrophic coverage plan would probably be fine, but not if there are chronic health issues, important pre-existing conditions, etc.</p>
<p>New York state has a limited kind of coverage called "Healthy New York" - there are quite a few (strange) qualifications, it still costs and is available only to NY residents.</p>
<p>Costco has started selling health insurance in some states, mostly western, I think. </p>
<p>Health insurance - and who gets coverage - is a topic that really riles me. I sometimes think the reason we are the richest nation in the world is because we don't offer health care to all our citizens. Seems like common sense to me that it's cheaper to treat people rather than wait until something catastrophic happens, bankrupt the individual, and put them on medicare. (Just one scenario.) </p>
<p>Ultimately it matters what state you're in. For some reason (maybe state law) our insurance provider will cover unmarried dependents up through the age of 24 in Utah.</p>
<p>I would go with your plan. That way, your son can get very affordable COBRA after he graduates. </p>
<p>In Massachusetts, health insurance options are very, very limited and very, very expensive. Expect that, to insure himself after graduation, he'll have to pay $3,000/year and up. I don't think that you can even have catastrophic coverage in the state. MA demands that insurance cover almost everything - not just things like prescription drugs, but IVF. I'm not sure if you are in MA or one of the other states in New England, but please consider the cost when he graduates. I'm almost certain that MA does not allow "catastrophic" insurance only.</p>
<p>jmmom - Before going with the medical insurance plan with your son's school, be sure to check out the maximum the insurance company will pay out in medical benefits. My older son's plan at his university had a maximum payout of $75,000 which is a pittance if he has a serious illness requiring extensive care or any other condition (bad accident with injuries) requiring extensive medical care. We ended up signing with a Blue Cross plan in Texas that had an annual deductible of $5,000 (with 100 % coverage above that) and a maximum payout of $5 million. However, the deductible included getting Blue Cross' negotiated rates with medical professionals and facilities before we were charged. For instance, if an MD charges $150 for a routine office visit, but Blue Cross' negotiated charge is $50, we would pay the $50.</p>
<p>Lifetime max on the college's plan is $1million per condition. We also have a BC/BS high deductible plan (higher than yours, lonestardad, if you can believe it!), but we also get the negotiated rates which helps (even for Rx). </p>
<p>aries, because our plan is so high deductible ($15k per person), it's really not appropriate for a young person just out of college, imo. So a COBRA for our plan is not much to shout about. It appears, though, that whether or not he stays with us, he could get a similar plan for about $100/month (much cheaper than we pay due to his age (ah, youth ;) ). Based on that, I'm thinking to go with the superior college plan for him now, hope he has quality insurance through an employer in 3 years. Back-up plan is the catastrophic-type plan we have, as outlined above.</p>
<p>When older S took a semester off, we were faced with the health insurance options, COBRA or an individual plan. We have a very good group plan through CIGNA that would have cost $350/month through COBRA. We found a high deductible ($1500, not k) individual plan through Anthem BC/BS with a premium of $138/month. He returns to FT student status next week, so we will cancel this individual policy having never used it.</p>
<p>I think a healthy new grad would be able to find a high deductible policy for a reasonable premium to tide him over until employer group insurance kicked in. Bills from a sore throat can always be absorbed, it's the big hit (accident, surgery, etc) when you need the insurance.</p>
<p>We have Kaiser, and our son was able to get his own policy with Kaiser for $83 a month after college. There was also one for $76 a month, but the $83 one came with a free physical and some other benefit that made it worth the extra $7.</p>
<p>The short answer to the OP's problem is that there is no good solution.</p>
<p>Individual policies, even high deductible ones, are rife with "gotcha" restrictions. Foremost among them is the prior condition restriction. Another is "reasonable and customary" which may cover only a fraction of what one is billed and obligated to pay. (R&C really means they pay against a schedule you are not allowed to see. I am not kidding.)</p>
<p>My oldest got a policy with Fortis after college until he secured a job and qualified for their group coverage. His plan was fairly reasonable---though I can't remember actual premium--I know he was able to choose a 3mo., 6mo., or 1 year plan.</p>