<p>One of my kids will be graduating and moving off my health insurance shortly. That kid will then be studying for a licensing exam, and there will be a period between graduation and (hopefully) full-time employment in a job with benefits.</p>
<p>Can parents offer some advice and experience on gap-health insurance? Did you buy hospitalization or full medical coverage for your new grad? Did you find a high deductible policy of some kind? Did you choose COBRA for your graduate's coverage? Did your new grad go uninsured until finding a full-time job with benefits? Cost?</p>
<p>Opinions and experiences will be appreciated.</p>
<p>First step would be to see if they really have to come off your insurance. With the recent changes in Insurance law, kids can stay on their parents insurance a lot longer than before - even after college.</p>
<p>Are they on a group plan currently through a parent’s employer? If they are, they may be able to stay on it until they turn 26. (Part of health care reform.) </p>
<p>COBRA will most likely be very expensive. </p>
<p>Check with an insurance broker - there are companies that specialize in insurance for short gaps in coverage - between jobs, etc. I don’t remember any company names, unfortunately.</p>
<p>Ditto on checking with your own insurance. Current laws keep people covered- a part of health care reform. You may even keep your child on your policy after they get the job, only stopping coverage after you realize they will keep the job and can get good coverage through the new employer.</p>
<p>I would definitely check to see if the kid can remain on your insurance. Should be able to stay. That said, I am a believer in COBRA since it is simply better coverage than most of the affordable private plans. It is expensive, but it’s not forever.</p>
<p>My kid will come off of my employer group-insurance on the date of graduation from grad school, when he is no longer a full-time student. That’s why I need to think about options.</p>
<p>I tried calling one of the major health care companies for information, and was told that it’s “too soon.” They said that programs change by the month. They’d be happy to provide insurance quotes for April, but said to wait until the middle to end of April to price health insurance for May. (I wondered if this means that prices will skyrocket for grads in May?)</p>
<p>One of my co-workers was recently laid off, and his COBRA payment (for self, spouse and one child) was signficantly in excess of $1,000/month. Ouch.</p>
<p>Everything changed Jan of 2011. Your 18-25+ dependant is now covered regardless of student status up until their 26th birthday. Your student can now take gap year without insurance penalty and no more student status comfirmation letters required.</p>
<p>Nonzeus, You need to speak with your HR department at work and ask them to look into it for you. I am pretty sure that kids can stay on their parents’ plan until age 26 (and in some states 27) regardless of employment, student status, or state of residence. No questions asked. We live in 1 state, and my 2 older employed kids live in other states, and BOTH are on our family plan, at no extra cost.</p>
<p>MomfromKC–MOST companies will carry kids to age 26, not ALL companies will even with health reforms. There are instances where they do not have to carry kids past age 18 so be sure to check with HR for specific details on your specific plan.</p>
<p>Neonzeus–it is very common for health insurance rates to turn over in April/May. It might be in your best interest to price out plans online now for an April 1 start just in case. She may have double coverage for a month but if they have a 10% increase, that month might be less–depends on the premium she has to pay. Since she is moving from a group plan right into an individual plan, pre-existing conditions should not be a factor. Individual plans are actually very reasonable for premiums but the coverage isn’t quite at good. For a healthy, young person, not usually an issue. </p>
<p>Most companies will have a specific Gap plan-designed to cover a time moving from one plan to another, usually 1-3 months, sometimes up to 6 months. If she doesn’t know for sure what or when her next plan will be/start, I would suggest getting a regular individual plan and not a gap plan. Gap plans CAN exclude preexisting conditions and generally, but not always, will have per-incidence deductibles. Individual plans are generally paid by the month and you can cancel with just a couple weeks notice.</p>
<p>Thank you SteveMA. Yes, my HR dept (US) advised me that my kid’s coverage will stop upon graduation. I will double-check, but that’s what the plan materials also say. A gap plan sounds good. I think this is going to have to be part of my graduation present.</p>
<p>Steve if you check out the link provided by jym is clearly says if they offer coverage they are now required to continue the coverage you already have. Cleary this person is over 18 and is currently covered. So the Q becomes are they in the US and covered by this new law. I personally had to inform HR that changes were coming that would require them to put my 24- 25 yr old daughter on a plan that she had never been on before (job change since end of college). It wasn’t a problem. But you have to know who to ask and make them look it up if they don’t have the information. (They should all have it now. This was Oct of 2010) Point being you can’t just take NO for an answer from HR. You are much better off going to them with documented information and saying what do I need to fill out to continues Jr.s coverage.<br>
None of which applies if NeonZeus is not under US law.
And under the old system, yes call your life, home, auto insurance agent and ask. I had major medical that wouldn’t have covered pregnancy when I graduated in the 80"s. That was in effect from May thru Dec and I never used it once. It didn’t cost anywhere near what a cobra plan costs because it didn’t cover office visits, etc.</p>
<p>Neonzeus If I were you I would print that web site jym sited and call the company that provides your coverage (not HR the Cigna, Bluecross, whatever insurance company.) Tell them you understand that under Obamacare your about to graduate student is entitled to continued coverage at the same rate and that you believe the materials provided to you by HR is out of date/pre-Obamacare. Ask them to send the updated info to HR and confirmation to you. If the insurance company says that your student doesn’t qualify have them send you official documentation explaining why. There really aren’t that many exceptions. Not even the 50 employees thing applies if the student already has the coverage. You could well be the first employee to have this situation at your job. It was the other way for a LONG time.</p>
<p>MomfromKC - Don’t take no was a good answer. Thank you. I questioned the plan materials and HR further, and am now being told that my grad student will be covered til 26th birthday provided I claim him as a dependent. This will get my student through the professional licensing exam. </p>
<p>I’d still appreciate any input from parents who have had to consider whether to help their graduates with gap-medical insurance, since the 26th birthday isn’t that far away for my grad student.</p>
<p>Glad to hear it… not to get political - but this was a really good change in the law. It never made sense to me that a recent college grad would get dumped off their medical insurance upon graduation.</p>
<p>Glad to see you discovering that the Affordable Care Act will benefit your son, as it will many of us on CC whose kids may need this. I am pleased and proud we have this new “benefit”.</p>