9. If you buy an individual policy, don't lie about your health history on the application. It may come back to bite you. "If you don't mention you have asthma and have a horrible attack and end up in the emergency room, [the company will] go back and look," Metcalf said. "They'll not only not pay for that but will cancel your insurance."
10. If faced with a choice between limited coverage or a high deductible, choose a high-deductible plan with more comprehensive benefits. Some parents even may want to fund a health savings account as an inducement for an invincible-feeling adult child to see a doctor when needed, Metcalf said.
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By Kristen Gerencher, MarketWatch