Big Kid Health Coverage

June 24, 2009 7:32:33 PM PDT
Many college graduates are spending this summer looking for a job.Maya Shulman-Ment will soon graduate from college. But her parents worry because that means, she'll lose her health insurance.

If no job materializes, Maya is still eligible to stay on her father's plan for three years under the federal Cobra Program, but it's expensive. Nationally, Cobra averages $400 dollars a month.

Still, Consumer Reports Health Editor Nancy Metcalf advises making every effort to get Cobra. In terms of protection, it is the best option.

If Cobra is not an option, you can purchase an individual plan. ehealthinsurance.com is an excellent web site where you can compare prices and benefits.

The most important thing is to make sure you are covered in case of a major medical disaster.

Don't be sucked in by a low premium. In those plans, office visits to your primary doctor may not be covered. Prescription drugs and other basics may not be covered either.

Consumer Reports says graduates should also stay away from a third option-temporary insurance.

John and Beth say if need be, they'll help Maya pay for insurance.

You can check with your insurance company to see if there is a grace period after college graduation or whether you have to sign-up for other insurance, right away.

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