Reports have been released that around 1 million college alumni have dropped out of insurance coverage from their parent�s health insurance. Since they are generally short of money for heavy investments, they tend to opt for affordable health insurance plans that would provide suitable coverage in case of medical emergencies.
Health insurance obtained through employers is generally affordable by fresh graduates. However, during the current economic crisis they find it really difficult to even get a nominal paying job. The unemployment rates of these fresh graduates are high in the current scenario of global economic crisis. Though they are recruited from the college campus, firing from the jobs is quite common even before the health insurance benefits start kicking off.
The advisable step in this case would be to avail coverage through affordable individual insurance plans which provide minimum coverage for a nominal premium. However, the risk factor is still high as only a pre-determined percentage of hospital expenses would be covered and the insured has to bear the rest. This may still be too high if the medical complications are severe.
However, such an insurance coverage for a start is definitely better than nothing as a simple car accident or a few doctor consultations can really pinch the pockets highly. In addition, delay in availing coverage will also put the graduates into the risk of insurers denying coverage if they have had major medical illnesses in the last few years.