Relief is available for college students who are looking for auto insurance. College students are often hit hard with financial burdens such as books, tuition, living expenses and auto insurance. It's important for these students to know that they can find discounts that may save them a lot of money.
First and foremost it's crucial to compare car insurance quotes. Quotes can vary dramatically from one insurance company to another. Also, most auto insurance companies offer good student discounts which can range from 10% - 20% off the original quote price. It's important to ask your insurer about such programs in case they do not offer it voluntarily.
Even though college students are often placed in a higher risk category because of their age, they can still receive good driving discounts. If a college student has a clean record and no violations they will save money and these savings can increase over time. The type of car you drive can save you money on insurance as well and since many students are driving less expensive cars, quotes can be lower. During these tough times everyone is looking to save money, but especially college students who have many expenses them hitting them all at once. It's worth their time to learn where to save.
Showing posts with label student health insurance. Show all posts
Showing posts with label student health insurance. Show all posts
Wednesday, October 20, 2010
Monday, September 15, 2008
Illinois Student Health Insurance
Illinois Gov. Rod Blagojevich recently used his executive power to raise the cutoff age for insuring employees’ children to 26. Student health insurance will not be necessary for many young adults.
Starwalt, a Sherman resident and state employee is happy that her daughter, Bridgette, a 20-year-old sophomore at Millikin University, won’t be cut off from Starwalt’s state health plan at age 23 — the current age limit.
Tracy Starwalt said her daughter now won’t have to interrupt her pursuit of a master’s degree in nursing to get a job with health benefits. “It is one more thing not to have to worry about,” Tracy Starwalt said.
Illinois previously had no law requiring dependent health coverage. Many employers offer insurance to dependents through their early or mid-20s, and then only if they are full-time students.
But barring a legal challenge, on June 1, 2009, Illinois will join 20 other states in requiring dependent coverage.
Most of those states passed laws to do this in the past three years, and most of them, like Illinois, require the coverage to be offered regardless of whether a dependent is a student.
Fueling the trend is the fact that young adults are the fastest-growing group of uninsured people in the United States.
These generally healthy “young immortals,” as they are called in the insurance industry, often decide not to buy private insurance after they “age out” of their parents’ insurance plans.
After college, however, recent graduates — and young workers in general — may find that health insurance is not offered at entry-level jobs or may be unaffordable.
Blagojevich set the new mandate in motion when he expanded the scope of House Bill 5285 through an amendatory veto in August. The Illinois House and Senate accepted the governor’s changes later in the month.
Jay Shattuck, executive director of the Illinois Chamber’s Employment Law Council, said the new requirement, which the chamber might challenge in court, is one of many state insurance provisions that are driving up the cost of health insurance for employers. The expansion might prompt employers to charge more for dependent coverage or drop it altogether, he said.
“We believe this will actually reduce coverage because of the cost,” Shattuck said. “Employers should not be obligated to provide insurance coverage to young adults.”
Blue Cross and Blue Shield of Illinois estimates that the law will result in its rates for employee groups rising an average of 1 percent.
But because young adults are relatively cheap to insure, state insurance regulator Michael McRaith estimates the requirement will add only 0.3 percent to the cost of an employer’s health plan.
It’s unclear whether similar mandates have led to significant cost increases in other states.
Governmental and business leaders in New Jersey and Utah, where dependent-coverage requirements have existed for several years, said they haven’t noticed a negative impact on employers.
In New Jersey, a 2005 directive that employers offer dependent coverage through age 29 resulted in 10,000 to 15,000 young adults getting coverage, according to Marshall McKnight, spokesman for the New Jersey Department of Banking and Insurance.
Starwalt, a Sherman resident and state employee is happy that her daughter, Bridgette, a 20-year-old sophomore at Millikin University, won’t be cut off from Starwalt’s state health plan at age 23 — the current age limit.
Tracy Starwalt said her daughter now won’t have to interrupt her pursuit of a master’s degree in nursing to get a job with health benefits. “It is one more thing not to have to worry about,” Tracy Starwalt said.
Illinois previously had no law requiring dependent health coverage. Many employers offer insurance to dependents through their early or mid-20s, and then only if they are full-time students.
But barring a legal challenge, on June 1, 2009, Illinois will join 20 other states in requiring dependent coverage.
Most of those states passed laws to do this in the past three years, and most of them, like Illinois, require the coverage to be offered regardless of whether a dependent is a student.
Fueling the trend is the fact that young adults are the fastest-growing group of uninsured people in the United States.
These generally healthy “young immortals,” as they are called in the insurance industry, often decide not to buy private insurance after they “age out” of their parents’ insurance plans.
After college, however, recent graduates — and young workers in general — may find that health insurance is not offered at entry-level jobs or may be unaffordable.
Blagojevich set the new mandate in motion when he expanded the scope of House Bill 5285 through an amendatory veto in August. The Illinois House and Senate accepted the governor’s changes later in the month.
Jay Shattuck, executive director of the Illinois Chamber’s Employment Law Council, said the new requirement, which the chamber might challenge in court, is one of many state insurance provisions that are driving up the cost of health insurance for employers. The expansion might prompt employers to charge more for dependent coverage or drop it altogether, he said.
“We believe this will actually reduce coverage because of the cost,” Shattuck said. “Employers should not be obligated to provide insurance coverage to young adults.”
Blue Cross and Blue Shield of Illinois estimates that the law will result in its rates for employee groups rising an average of 1 percent.
But because young adults are relatively cheap to insure, state insurance regulator Michael McRaith estimates the requirement will add only 0.3 percent to the cost of an employer’s health plan.
It’s unclear whether similar mandates have led to significant cost increases in other states.
Governmental and business leaders in New Jersey and Utah, where dependent-coverage requirements have existed for several years, said they haven’t noticed a negative impact on employers.
In New Jersey, a 2005 directive that employers offer dependent coverage through age 29 resulted in 10,000 to 15,000 young adults getting coverage, according to Marshall McKnight, spokesman for the New Jersey Department of Banking and Insurance.
Tuesday, June 17, 2008
Graduates Get Creative To Find Health Insurance
This year, 1.4 million graduates are tossing their mortarboard caps into the sky and receiving bachelor's degrees. Almost immediately, many will face another rite of passage: getting dropped from their parents' health insurance.
Most group health plans cover employees' children until the age of 19 -- or often up to 23 if they are full-time students. After that, many young adults must put together their own health safety net. But with the economy weakening, and entry-level jobs that offer health coverage harder to find, some recent graduates are coming up with creative ways to protect themselves.
Phillip Ngo was removed from his father's workplace health insurance when he graduated from New York University last year. So the 22-year-old came up with an idea to get back on his parent's plan -- going back to college without ever setting foot in a classroom.
Even though he had a bachelor's degree, Mr. Ngo enrolled as an online student at his hometown City College of San Francisco, a two-year college. Two days later, he presented proof of enrollment and a class schedule to his father's insurance company, which put him back on the plan.
Young adults are the fastest-growing group of the uninsured, according to 2006 U.S. Census data. And one in three -- or 13.7 million -- Americans aged 19 to 29 lacks health insurance, according to the Commonwealth Fund.
At least 18 states have enacted laws that require insurers to allow parents to extend coverage for older dependents, often whether they are in college or not. A few other states have similar laws, but with various restrictions. Although a family's premium might go up, coverage is now available in most of these states for dependents up to age 23 or 25. In New Jersey, the upper limit is age 30.
But for young adults who don't live in any of these states, or who aren't claimed by their parents as dependents, college graduation can bring a scramble for health coverage. Some recent graduates shop online for the cheapest policy they can find, which often comes with a high deductible. Other people temporarily extend the coverage they previously had under their parents' plan through the federally mandated Cobra program, which often comes at a steep price. Some graduates go without insurance altogether and hope for the best.
Ineligible for Extension
Ryan Todd, 24, was removed from her parents' policy after graduating from DePauw University in 2006. She currently lives with her parents in California, which allows young adults to continue their health coverage after they graduate. But the state restricts this extended coverage to people who are disabled, making Ms. Todd ineligible.
Ms. Todd works as a freelance costume designer in Southern California. Later this year, she will be eligible for membership in a union that offers health coverage. Meanwhile, Ms. Todd has arranged a patchwork of temporary solutions. She occasionally text messages her symptoms for minor ailments to a doctor friend and gets his advice. She takes advantage of free services at Planned Parenthood. And she considers herself fortunate to be healthy. "I don't even make enough money to move out of my parents' house, let alone afford health insurance," Ms. Todd says.
Going without coverage isn't an option for some people. Cole Murray was diagnosed as an infant with aortic stenosis, a congenital heart defect. He has had five open-heart surgeries and two pacemakers and spent 10 days in a coma when he was 19. His medical costs in 2003 alone totaled $750,000, covered through his parents' insurance.
Mr. Murray's family lives in Indiana, and when he graduated from Columbia College in Chicago with a degree in film, he took advantage of his home state's law that allowed him to remain on his parents' policy an extra year. Now, Mr. Murray is paying $476 a month for Cobra coverage, which extends his parents' coverage until January, when he turns 25. Cobra is a federal law that provides continuation of group health coverage that otherwise might be terminated.
"Most people can spend a couple of years without health insurance, but I don't have that option," he says. Mr. Murray moved to Los Angeles last fall to pursue a career in film. If he doesn't line up a job with health coverage in the next few months, Mr. Murray says he will move back to his home town and look for any job that offers insurance.
Laura Roeder, 23, opted for a high-deductible policy after she graduated from University of Texas at Austin and started her own freelance Web design business in Chicago. She pays $60 a month for coverage through Humana Inc. But since none of her medical expenses under $5,000 are covered under the policy, she avoids routine visits to the doctor. She copes with colds and the flu by ingesting high-dosage vitamin C drinks.
"I'm going to stay self-employed," she says. "And [health insurance] is not suddenly going to become affordable."
Mr. Ngo says that after graduating from New York University with a theater degree, he "bounced around" between unpaid and low-paid internships and personal-assistant jobs in New York City. None offered health coverage. While uninsured, Mr. Ngo says he contracted a nasty flu. But fearing a big bill, he opted not to seek care. Although he got well on his own, the experience scared him.
Mr. Ngo says he got the idea to enroll in a community college in order to get back on his parent's coverage after hearing about the plan from a friend. "I never did anything for class," Mr. Ngo says. "For me, 300 bucks for a semester's health insurance was a good deal. So I thought why the hell not?"
In March, Mr. Ngo got a job as an assistant to a Broadway producer in New York. After 90 days on the job, he qualified for his employer's health insurance, for which he pays $32 a month. He withdrew from the community college, receiving incompletes for his classes.
Posted in the WSJ June 17, 2008
Most group health plans cover employees' children until the age of 19 -- or often up to 23 if they are full-time students. After that, many young adults must put together their own health safety net. But with the economy weakening, and entry-level jobs that offer health coverage harder to find, some recent graduates are coming up with creative ways to protect themselves.
Phillip Ngo was removed from his father's workplace health insurance when he graduated from New York University last year. So the 22-year-old came up with an idea to get back on his parent's plan -- going back to college without ever setting foot in a classroom.
Even though he had a bachelor's degree, Mr. Ngo enrolled as an online student at his hometown City College of San Francisco, a two-year college. Two days later, he presented proof of enrollment and a class schedule to his father's insurance company, which put him back on the plan.
Young adults are the fastest-growing group of the uninsured, according to 2006 U.S. Census data. And one in three -- or 13.7 million -- Americans aged 19 to 29 lacks health insurance, according to the Commonwealth Fund.
At least 18 states have enacted laws that require insurers to allow parents to extend coverage for older dependents, often whether they are in college or not. A few other states have similar laws, but with various restrictions. Although a family's premium might go up, coverage is now available in most of these states for dependents up to age 23 or 25. In New Jersey, the upper limit is age 30.
But for young adults who don't live in any of these states, or who aren't claimed by their parents as dependents, college graduation can bring a scramble for health coverage. Some recent graduates shop online for the cheapest policy they can find, which often comes with a high deductible. Other people temporarily extend the coverage they previously had under their parents' plan through the federally mandated Cobra program, which often comes at a steep price. Some graduates go without insurance altogether and hope for the best.
Ineligible for Extension
Ryan Todd, 24, was removed from her parents' policy after graduating from DePauw University in 2006. She currently lives with her parents in California, which allows young adults to continue their health coverage after they graduate. But the state restricts this extended coverage to people who are disabled, making Ms. Todd ineligible.
Ms. Todd works as a freelance costume designer in Southern California. Later this year, she will be eligible for membership in a union that offers health coverage. Meanwhile, Ms. Todd has arranged a patchwork of temporary solutions. She occasionally text messages her symptoms for minor ailments to a doctor friend and gets his advice. She takes advantage of free services at Planned Parenthood. And she considers herself fortunate to be healthy. "I don't even make enough money to move out of my parents' house, let alone afford health insurance," Ms. Todd says.
Going without coverage isn't an option for some people. Cole Murray was diagnosed as an infant with aortic stenosis, a congenital heart defect. He has had five open-heart surgeries and two pacemakers and spent 10 days in a coma when he was 19. His medical costs in 2003 alone totaled $750,000, covered through his parents' insurance.
Mr. Murray's family lives in Indiana, and when he graduated from Columbia College in Chicago with a degree in film, he took advantage of his home state's law that allowed him to remain on his parents' policy an extra year. Now, Mr. Murray is paying $476 a month for Cobra coverage, which extends his parents' coverage until January, when he turns 25. Cobra is a federal law that provides continuation of group health coverage that otherwise might be terminated.
"Most people can spend a couple of years without health insurance, but I don't have that option," he says. Mr. Murray moved to Los Angeles last fall to pursue a career in film. If he doesn't line up a job with health coverage in the next few months, Mr. Murray says he will move back to his home town and look for any job that offers insurance.
Laura Roeder, 23, opted for a high-deductible policy after she graduated from University of Texas at Austin and started her own freelance Web design business in Chicago. She pays $60 a month for coverage through Humana Inc. But since none of her medical expenses under $5,000 are covered under the policy, she avoids routine visits to the doctor. She copes with colds and the flu by ingesting high-dosage vitamin C drinks.
"I'm going to stay self-employed," she says. "And [health insurance] is not suddenly going to become affordable."
Mr. Ngo says that after graduating from New York University with a theater degree, he "bounced around" between unpaid and low-paid internships and personal-assistant jobs in New York City. None offered health coverage. While uninsured, Mr. Ngo says he contracted a nasty flu. But fearing a big bill, he opted not to seek care. Although he got well on his own, the experience scared him.
Mr. Ngo says he got the idea to enroll in a community college in order to get back on his parent's coverage after hearing about the plan from a friend. "I never did anything for class," Mr. Ngo says. "For me, 300 bucks for a semester's health insurance was a good deal. So I thought why the hell not?"
In March, Mr. Ngo got a job as an assistant to a Broadway producer in New York. After 90 days on the job, he qualified for his employer's health insurance, for which he pays $32 a month. He withdrew from the community college, receiving incompletes for his classes.
Posted in the WSJ June 17, 2008
Tuesday, April 22, 2008
Health Insurance for 20-somethings
About 20% of adults 19 to 29 don't have health insurance coverage. If you fall in that category, you might think you don't need the extra expenditure -- after all, you're invincible right?
Going without medical coverage is risky -- not only for your health but also for your personal finances. One visit to the ER could cost you hundreds or thousands of dollars.
So if you are currently covered on student health insurance, or on your parents health plan, your free ride may be coming to an end. After you apply for a new health insurance policy, it can take a month or two for it to kick in, so act now to avoid leaving yourself vulnerable to accident or injury.
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