Investing in Massachusetts health insurance, if you are well off, healthy and young, may seem like a luxury, although the reality is far from it. Consider twisting an ankle on a hike, or a broken arm in a soccer match, or bronchial problems becoming pneumonia. There are thousands of dollars that may be required for treatment. Given below is a list of conditions that describes those who require insurance. Check them out as you might just fall into any of these categories:
Are you moving from High School to Work? Your parents may have employer coverage, and if this is the case, you should try and be a part of their Massachusetts health insurance plan. This is actually less expensive than getting individual medical insurance as employers usually bear a considerable part of their employees’ insurance premiums, if it is a group plan. A large number of states require the insurers to expand parental insurance to their adult kids below 25 or 30 years.
Are you entering college? Private and public colleges in Massachusetts offer Massachusetts insurance plans for students who are not enrolled in their parents’ insurance coverage. In this case, the amount of premiums that you are required to pay amount to $850 for a single year. This is about 80% cheaper than the premiums that are paid by group sponsored employee health insurance plans. However, you may not be eligible as a part time student.
Has your parent just been downsized? If the company that has laid-off your parent is still in business, you get to enjoy the COBRA benefits. This federal legislation allows you to enjoy the advantages of the health insurance plan in Massachusetts for up to 18 months after being laid off. For certain students, the plan may sound expensive, but under the Obama government, measures have been taken to stimulate the package with a 65% knock down on the premium.
Are you without job? If you are jobless, your parents can carry on to include you in their health insurance Massachusetts policy. As a graduate, you may be offered a plan by an alumni member for covering you for a period of 6 months or even longer. Fresh graduates are eligible for discounts. However, if you have reached the age of 25 years, you may not be eligible to qualify for being covered under your parents’ health plan. Short term insurance plans come dear and offer limited coverage.
Are you a self employed entrepreneur? A lot of insurance agents in Massachusetts target young adults with insurance policies that may cost somewhere between $40 and $70, like Tonik plans from WellPoint or BodyGuard from Aetna. The representative of the Massachusetts insurance department can tell you about the availability of the plans. Remember, if the premiums are low, the coverage is limited and you may require paying more out of your pocket. Instead of incurring the initial thousand dollars of your health policy, it is best to locate a plan with the lowest co pay, even if that means a higher premium.