Should I Stay or Should I Go? – Health Insurance Choices for Grads

It used to be that turning 19 or graduating from college meant that you were on your own for health insurance. No longer. One of the most well publicized and well liked elements of the 2010 health care reform law is the provision allowing adult children to stay on their parents’ plan until age 26.

For the first time ever, college grads in 2011 will have the option to stick with their parents’ health insurance coverage – that is, if Mom and Dad are willing or if group coverage is even available. As we’ve said before, Mom and Dad are not obliged to keep new grads on their health insurance policies – and frankly it’s not necessarily the best option.

Please note that if the parent’s health plan is NOT an employer-based plan, it’s still possible that an adult child age 19 or over could potentially be declined coverage due to his or her health history. Talk to a licensed health insurance agent or the insurance company for more details, if that’s your situation.  And check out our Health Insurance Buyer’s Guide which helps you select a plan in 5 easy steps.