MOUNTAIN VIEW, CA -- (Marketwired) -- 06/03/13 -- Today eHealth, Inc. (NASDAQ: EHTH) (eHealthInsurance.com), the nation's first and largest private online health insurance exchange, released tips to help college grads better understand their health insurance options -- both for today and for 2014, when final provisions of the Affordable Care Act (ACA) come into effect.
This year's college graduates are leaving school in the final days of the implementation of the comprehensive health reform law signed by President Obama in 2010. Beginning January 1, 2014, most college graduates will be required to have health insurance, or face tax penalties. With state-run health insurance exchanges and a new open enrollment period about to launch this fall, today's grads have different health insurance options -- and different responsibilities -- than grads from prior years.
In order to help graduates better understand their health insurance choices -- and how those choices may change in 2014 -- eHealth has compiled the following:
Health Insurance Options for Grads -- With Health Reform in Mind
Mom and Dad's health insurance -- If you're moving back in with your parents, if quality coverage is important to you, or if employer-based coverage isn't an option right now, then consider staying enrolled under a parent's health insurance plan. The ACA made it possible for young adults to stay enrolled on a parent's plan until age 26. This is a good coverage choice for some grads. However, it can result in increased premiums for Mom and Dad, and if you're living out of state or far away, you may not have access to network doctors and hospitals -- which could severely restrict your coverage.
•In 2014: You'll still be able to stay enrolled on a parent's health insurance plan until your 26th birthday -- but after that, you may be required to purchase coverage on your own in order to comply with the ACA.
Traditional individual health insurance -- If quality coverage is important to you, if employer-based coverage isn't an option right away, or if you want to be as financially independent as possible, consider buying a traditional major medical health insurance plan on your own. You may have some pretty affordable options. Work with a licensed online marketplace like eHealthInsurance.com to see what's available. Just remember that until 2014, it's still possible (in most states) to be declined coverage based on pre-existing medical conditions.
•In 2014: Starting in January 2014, most people without employer-based coverage will be required to purchase this sort of individual health insurance policy. By purchasing yours now, you may be ahead of the game. In 2014, you may also qualify for subsidies to help you pay for individual coverage.
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