Graduation Gift for College Students: You may Not Lose Your Health Insurance
Under new health care reform, there is a provision that young college students can stay on their parent’s insurance policy until age 26. Major insurance companies such as Humana, Kaiser Permanente, United HealthCare and WellPoint has announced to provide the separate health plan to young adults. These all insurers also try to gather all other insurers by sending a letter of offering and expand opportunity. This letter contains productive discussions with insurers for college graduates or young adults.
Moreover, every state has different health laws about eligibility for including their children in a plan. Before the new law, most of the plans require children to be in school in order to continue coverage. Insurance companies are not allowing them to get back if they are already off from parent’s plan and children have to wait for certain age to get individual health plan or they earn sufficient to cover themselves with coverage.
Each insurance company is taking this new reform of heath care differently. Here, we have given some company’s review about a new law.
The insurer of Humana says that the changes will take effect immediately after passing the law. If young one is still insured under his parent’s plan, he can stay on the plan until age 26 or able to insured himself.
Kaiser said that there is no any fixed date for applicability of new law, therefore, it is difficult to decide from when the new plan will be activated. Many individuals are insured by their employers then the decision will be upon employers about new reforms.
United Health Care:
For individual and group plan, the new changes will be applicable immediately, according to United Health Care. Employer- insured parents have to wait for their employer’s decision because if an employer will agree to change then and then only parents will eligible for new health care reform.
This company operates about 14 Blue Cross and Blue Shield plans in a country. The change in new law will applicable to all customers eventually.
The decision of above major insurance companies will lead to attracting other insurers to accept changes and young adults or college graduates will not face the life without health insurance. The cost of chronicle disease (asthma, cancer, diabetes or any other) goes considerably high and unaffordable if a person does not carry health coverage.
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