insurance

How New Grads Can Buy Health Insurance

New college graduates can stay on their parent's health insurance plans, but they should check out a few other options before they do so.

Question:

My daughter just graduated from college and doesn’t yet have a job that offers health insurance. She’s going to be moving to a different state. Can she stay on my insurance?

Answer: She can stay on your policy until age 26, but check whether your plan has in-network providers in her new state. If she goes out of network, she may pay a higher deductible and co-payments, or she may have no coverage except in emergencies. She could also buy a policy through her new state’s insurance exchange. (Healthcare.gov has links to exchanges.) If she’s not financially dependent on you, she may qualify for a government subsidy to help pay premiums. Subsidies are available to singles earning up to $48,240 in 2018.

Or she could get a “catastrophic plan,” available to people younger than 30, which offers low premiums but higher deductibles and no subsidy. Catastrophic policies sold on eHealthInsurance.com last year cost an average of $201 per month, says Lisa Zamosky, of eHealthInsurance.

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
How to Know When You Can Retire
retirement

How to Know When You Can Retire

You’ve scrimped and saved, but are you really ready to retire? Here are some helpful calculations that could help you decide whether you can actually …
January 5, 2022
The 10 Best Closed-End Funds (CEFs) for 2022
CEFs

The 10 Best Closed-End Funds (CEFs) for 2022

These high-yielding CEFs won't just significantly boost your portfolio income. They'll also allow you to buy their underlying stocks and bonds at a di…
January 12, 2022

Recommended

Virtual Reality Turns Games Into Treatments
happy retirement

Virtual Reality Turns Games Into Treatments

Seniors are utilizing virtual reality programs to boost physical therapy, fight acute and chronic pain and address mental health concerns.
January 25, 2022
Tattoos and Piercings in the Workplace: Can You Be Fired?
careers

Tattoos and Piercings in the Workplace: Can You Be Fired?

If your boss told you to cover your tattoos, remove your piercings or find another job, what would you do? What are employers’ and employees’ legal ri…
January 21, 2022
Could You Lose Your Job if You Get COVID-19?
careers

Could You Lose Your Job if You Get COVID-19?

With omicron surging, many are losing the ability to work. Can they get fired? Will they get paid time off? It depends.
January 12, 2022
Now Hear This: Workplace Noise Isn’t Just Annoying, It’s Downright Dangerous
careers

Now Hear This: Workplace Noise Isn’t Just Annoying, It’s Downright Dangerous

From buzzy fluorescent lights to co-worker chatter and pinging texts, the noise in a typical office adds up. And it can damage your productivity … and…
January 2, 2022