A Few Reasons Why College Graduates Should Seek Insurance Now
You finally got through school and it’s time to take a breather, right? Maybe not right away. If you’re a college graduate, you may now be looking to get a career started and possibly move out on your own or in with a roommate. One thing many college graduates neglect when moving on into the real world is insurance.
If you’ve just graduated, chances are that you’re still on your parents’ insurance plan. Although in the United States, people can remain on their parents’ plan until the age of 26, it doesn’t hurt to find your own coverage and think about the future. Here are some reasons why you should do this.
The Good News
As we said before, if you’re younger than 26, you can rely on your parents’ coverage. Your parents should check the details of their policy to be sure, but most plans allow parent to add children, but only during open enrollment or special enrollment periods. In most cases, you can even stay on their plan even if you:
- Get married
- Have or adopt a child
- Start or leave school
- Live independently of your parents
- Are not claimed as tax dependent
- Turn down an offer for job-based coverage
Finally an Adult
When approaching 26 years of age, you might be able to ride that plan until the end of the year, and that’s it. Qualifying for tax credits to help pay for coverage is a possibility, but don’t forget, insurance is mandatory. And you don’t want to add to the problem Texas faces in having so many uninsured citizens. Everyone not insured at the end of the open enrollment period for 2016 will face a penalty of either $695 per adult or 2.5% of that household’s income.
Advice from the Experts
“If you have the opportunity to purchase insurance, do so. Whether it’s for health insurance or an RV you’re renting, act now and purchase insurance.”
That’s Chris Graham of Shepard Walton King discussing how everyone should always take the opportunity to purchase insurance if they are able to. Recent graduates can look to new changes within the Affordable Care Act as an incentive to become insured.
Small businesses with 50 or more full-time employees are now required to provide their own coverage. This could make it easier for younger people entering the workforce.
We all get sick, and if your eating habits are considered less than healthy, and exercise is nonexistent, the chances of becoming ill increase. We understand that it’s hard to kick those eating habits you had in college, but now it’s time to get serious when it comes to your health. Eat smarter and get in a few hours a week of walking, jogging or gym time. In the long run, your health will benefit greatly and a health insurance policy will only cement the peace of mind you need to live comfortably.
We also understand that there are factors beyond your control when it comes to your health. Hereditary issues are just a few of the things you should keep in mind when finding an insurance policy. In the State of Texas, medical issues like hypertension, diabetes and heart disease are extremely common and can cost lives.
According to the U.S. Department of Health and Human Services Office of Minority Health, Hispanic adults are 1.7 times more likely than non-Hispanic adults to be diagnosed with diabetes. If issues like those mentioned above run rampant in your family, a health insurance policy can greatly help you get the medical treatment you’ll need when you age.
Life by the Drop
You’re out of college and maybe a few bad habits have followed you. Having fun with friends and doing some occasional drinking is fine. It’s a normal part of being on your own in and after school. Doing that every night, however, is something that should be reconsidered. Kidney-related medical issues are something that countless Americans deal with on a daily basis. Cut back on the alcohol to prevent medical issues when you near middle age.
Finding the Policy You Need
Shepard Walton King knows that finding the right policy can be a challenging task, but we are here to help you every step of the way. You’re out of college now and it’s time to get life started on the right foot.
Finding coverage will have you set up for life’s various challenges down the road. Contact one of our offices in Texas so we can get you started on searching for the policy that will have you covered for life.
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