Staying Insured

It is important to stay insured between being a full-time student and getting a job that may offer insurance benefits or at least the income to allow you to shop more extensively for health insurance. One reason to stay insured is if you have a pre-existing medical condition. In this case, it is almost always better to keep a current plan than to risk going without insurance and then having to find a carrier that will cover your pre-existing condition. Another reason to avoid a “gap” in your insurance coverage is that it is always possible to develop a health condition while uninsured that could keep you from qualifying for individual insurance. And, of course, you could become ill or have an injury that would require you to pay huge medical bills. There are a few options that provide short-term coverage for graduates.

Student Health Insurance

Before you graduate, one option is to purchase a student health insurance plan which provides coverage beyond graduation. It is available to full-time students under age 30 but usually requires purchase at least 31 days prior to graduation. These policies do not cover pre-existing conditions for a year, nor do they pay for pregnancy or prescription drugs. An advantage of these plans is that they are generally inexpensive compared to short-term policies and can be renewed as long as premiums are paid.