It’s time to turn your queasiness into action, especially if you’re one of the growing number of college grads without health insurance.
There are options that can fit your budget and health needs. The cost depends on your circumstances, like where you live, how healthy you are, and whether you’re a male or female. However, your age is in your favor, says Sam Gibbs, senior vice president at eHealthInsurance.com. “There are affordable individual policies out there, especially for young consumers,” says Gibbs. See which one of these plans fits your situation and use the health insurance glossary to wade through the terms.
Health Insurance Glossary
• Co-insurance: The percentage of coverage you are expected to pay yourself. For example, if the policy’s co-insurance is 80/20 and the medical bill is $100, insurance would cover $80 and you would pay $20 until you reach an out-of-pocket maximum, then the insurance pays 100 percent.
• Co-payment or co-pay: Usually a fixed-dollar amount that you are required to pay to receive services. Typical co-pays might be $15 for a doctor visit or prescription, and $100 for a trip to the emergency room.
• Deductible or Out-of-pocket: Amount you pay toward your healthcare before insurance begins covering eligible medical costs. As a rule, the higher the deductible the lower the plan’s premium and vice versa.
• HMO (Health Maintenance Orga
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