Friday, January 8, 2010

How to Shop Around for Health Insurance

Buying health insurance is probably the last thing a new college graduate wants to research as they deal with the multitude of changes that accompany their sudden leap into the real world.

Unfortunately, your change in status from student to regular person will also mean changes in your health insurance coverage. For the last several years you may have been on your parent’s insurance plan or covered by student insurance but after graduation, you are likely on your own. As a result many college graduates simply go without, which can be one of the worst decisions you can make for your health and your wallet.

Risks of Going Without Health Insurance
If you don’t have health insurance you’re more likely to avoid needed treatment or preventive care due to the costs involved. In the event you’re faced with major health issues that demand treatment you could find yourself deep in debt if you don’t have any type of catastrophic coverage. Even if health insurance seems like something you can’t afford right out of school it’s worth taking the time to research the options and see what form of coverage you can squeeze into your budget.

Employer Health Insurance
If you’ve landed a job, chances are you have some decent options for health insurance coverage. Group health insurance provided by many employers is often the most affordable type of insurance available to you. Unfortunately, the rising cost of insuring workers is causing some employers to reduce the benefits the plan offers or drop health benefits all together. You could be faced with increased deductibles, higher premiums, or both but it’s still often better than having to find insurance on your own.

Make an appointment with your human resources representative to make sure you understand and are taking advantage of the health benefits available to you. If you’re still looking for a job, make sure you take the benefits package into account as you’re weighing your options. A good health insurance plan, along with things like dental, disability, and life insurance can be worth a lot of money.

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