(PRWEB)
April 19, 2006 -- A recent survey by Assurant
Health, the nation's leading provider of temporary health insurance, reveals
that nearly 40 percent of respondents mistakenly believe that adult children
(ages 21-24) living at home are still covered under their parents' health
insurance plans. Unfortunately this is often not the case. While
the age a child dropped from a parent's policy varies, typically most children
lose coverage under their parents' plan at the end of the month they graduate
and cease to be full-time students. One thing is certain -- many college
graduates, and their parents, are not aware that they may now be at serious
financial risk.
The
survey also reveals that half (50 percent) of Americans believe that health
insurance is only affordable through an employer, which could place college
graduates and their parents at risk by prompting them to go without health
insurance at all, even for a short time. According to The National Center
for Education Statistics, over 1.4 million students will graduate with a bachelor's
degree in 2006, and while the job outlook is brightening, there is no guarantee
that graduates will find a job right away. In fact, the unemployment
rate among this age group (20-24 year-olds) is considerably higher than the
national unemployment rate of 5.6 percent.
All
this adds up to the potential for a lot of uninsured Americans, especially
among this young adult group. Although nearly half of Americans (44
percent) believe it is worse to go without health insurance than to not have
a job, according to the most recent data available from the U.S. Census
Bureau, over 8 million young adults (ages 18-24) went without health insurance
in 2002, and overall this age group is the most likely to be without health
insurance.
"Parents
and young adults need to realize that going without health insurance is a
risky option," said Wiley Long, President of HSA
for America, an online health insurance agency. "We
know that more than half of Americans have gone without health insurance at
one point or another. It is critical that we educate people about the
affordable alternatives like short term medical insurance plans in order to
combat the growing healthcare concerns facing our country."
What
is perhaps most surprising is that a large number of Americans are either
unaware of or don't believe they can purchase an affordable short term health
insurance policy. Because of this, some parents will opt to extend a
recent graduate's coverage under their existing policy through COBRA –
which can lead to unnecessarily high costs. However, there are a range
of affordable short term medical policies out there, particularly for younger
age groups, and HSA for America
makes it easy to locate the right policy by offering convenient online access
to quotes and almost immediate coverage.
But
recent college graduates are not the only group that can benefit from short
term medical insurance. With companies increasingly outsourcing jobs
and authorizing layoffs, losing health insurance can happen at any time.
Additionally, internships and co-ops are becoming the preferred path to permanent
full-time employment (Collegiate Employment Research Institute at Michigan
State University), and it is common for employers not to offer health plans
with these types of positions.
Short
term health plans are an ideal alternative for people in a variety of situations,
including:
- Recent college graduates
- People between jobs
- Employees waiting for employer group coverage
- Temporary or
seasonal employees
- Dependents no longer covered under parents'
plan
- On-strike, laid-off or terminated employee
Choosing
a plan and getting covered has never been easier. Unlike HMO or PPO
plans, which generally have a very limited provider network to choose from,
short term medical plans allow customers to use the doctors and hospitals
of their choice, can be purchased online, and offer policyholders peace-of-mind
because they can take effect almost immediately.
Coverage
can be purchased for as few as 30 days or as many as 365 days (varies by state).
Sample
Short Term Medical Plan Costs*
Person Characteristics - 30 Days Coverage - Deductible
21-year-old - $82.62 - $500
28-year-old - $63.18 - $1,000
30-year-old
- $48.60
- $2,500
For
more information, free quotes or to apply online visit HSA
for America's Short
Term Health Insurance.
About
HSA for America:
HSA
for America is an online health insurance broker specializing
in Health Savings Accounts.
Our Mission is to find individuals and families the best coverage available
to meet their needs at the lowest price the market offers, while at the same
time making the process easy.
