Once you’ve graduated college, you’ll have a lot of new opportunities available to you. However, you’ll also have a lot of responsibilities that you have to take care of. One of those responsibilities will be providing health insurance for yourself. Health insurance can be frustratingly expensive, especially when you’re starting out for the first time on your own plan. Here are a few ways that you can lower your health insurance costs as a recent graduate.
Choose a High-Deductible Plan
First, one of your best options if you’re going off on your own is to find an insurance plan with high deductibles. Many high-deductible plans have annual deductible rates that are around four digits. They will also usually have low monthly premiums. Basically, you’ll end up with some of the lowest health insurance costs that are available on the market. These kinds of plans can be very beneficial for you after graduating college because you likely won’t have any serious health problems since you’ll be in one of your healthiest stages of life.
Stay on Your Parents’ Insurance
Another option that you have for health insurance after graduating college is staying on your parents’ health insurance. You can stay on your parent’s insurance until you turn 26, and then you’ll need to get your own. So, if you parents are willing to let you remain on their insurance for a few more years until you turn 26, this will help to save you a lot of money until you are more stable financially. If you do choose to stay on your parent’s health insurance, make sure that you discuss your health needs with them so they can make sure that you have coverage. For example, if you have specific medications that you need each month, or if you plan on being pregnant, you’ll want to make sure that those costs are covered.
Qualify for Medicaid
Finally, another option that might be available to you is qualifying for Medicaid. If you are working part time or aren’t making a lot of money right off the bat, you might be able to qualify for this aid. Similarly, if you’re trying to start up your own business and are struggling to make money, you could also qualify. Make sure you look into this option if you are looking for a good health insurance plan.
So, before you start worrying about super expensive health insurance plans, make sure that you look into these more affordable options. You can find a high deductible plan, stay on your parents’ insurance, qualify for Medicaid, or find any other great options for you. Remember, having health insurance is important because it will save you financially in the event of a health emergency.
Check out this article on how to protect your income when life happens!
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