Health Insurance Options for Students and Recent Grads in 2014, 2015

This year regardless of if you are a college student or recent graduate it is mandatory for you to have health insurance during 2014. Poor health may not be something that concerns you, but the Affordable Care Act requires most Americans to have health insurance even if it is a minimum policy.

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If you have been able to land a job already that includes benefits your employer should have insurance available for sale through them. In the event that they do not you, do have other options when it comes to your health insurance.

Stay on a Plan with Your Parents

Many college students and recent graduates are eligible to remain on their parent’s health insurance until they reach the age of 26. The Affordable Care Act makes it so you are able to remain on your parent’s plan. You can be married, live at a different residence than your parents, attend school, or not even be your parent dependents.

If you are someone who does not attend college in the state you reside in, contact your insurance company to insure that there is an in-network provider near your campus. If in-network coverage is not available, you will find yourself with an extra experience, which forces you to choose between finances and your health.

Additionally, you want to insure that you are getting routine preventative care visits whenever you go home to visit, such as summer breaks or holidays, when you will be able to utilize your parents plan.

Utilize Health Care Available Through Your School

Many colleges have health plans available to students, which help you meet your obligations for the health care law. Student health plans are beneficial because the premium costs are just added in to your other expenses, such as tuition and room and board.

Students who are older than 26 find these plans to be rewarding to them because they are no longer able to stay up under their parents plans. However, before committing to a plan it is important to make sure that the plan you are purchasing meets the minimum requirement set in place by the Affordable Care Act.

The Online Marketplace

If you missed the 2014 deadline for the marketplace, you are going to have to wait until they open again in November 2015. However, depending on your circumstances, you may be able to get in during the special enrollment period, which allows you to get a private health plan even though the open enrollment period is closed.

Furthermore, if you go through a qualifying life event during the year you may be eligible to get a 60-day enrollment period. For example, if you are a recent graduate and think you are eligible fill out a Marketplace application

Get Catastrophic Coverage

Those under 30 may be eligible to get a catastrophic health plan, which gives them higher premiums each month yet lower deductibles.

Bottom Line

These plans usually cover three primary care visits annually without you encountering any out of pocket expenses. They include free preventives services too. If you have further questions about the health care laws you can always visit TurboTax Health. They will help you understand, this new law and how you will have to plan your finances.