Survey: 20% of College Parents Unaware when their children are no longer covered under their health plan
According to a two recent surveys conducted by Assurant Health, students and parents might not be aware of important facts regarding their son or daughter’s health insurance eligibility. In fact, concerned parents might make this their top priority if only they knew that, as soon as their sons or daughters doffed their caps and gowns, many of these grads were no longer protected against medical catastrophes. Unfortunately, many parents are unaware that some health insurance plans stop providing coverage to adult children, even if are living at home. Plus, they don’t realize affordable, short-term medical insurance is readily available.
“It’s a shame that this lack of knowledge is putting so many young adults needlessly at risk,” said Heidi Hanstein, vice president for Assurant Health, which helped to pioneer the concept of short-term
coverage. “I’m sure many parents and grads wouldn’t take such a chance if they knew how easy it is to apply for and purchase temporary coverage.”
This disturbing news is supported by two surveys conducted by Assurant Health. Other findings included:
• Approximately 40 percent of parents mistakenly believed that adult children (ages 21 -24) living at home were covered under their health insurance plans.
• 20 percent of college parents have no idea when their health insurance will no longer cover their college-age children.
• Most believe that short-term health insurance for a healthy young adult costs more than $100/month; in fact, such policies generally cost around $50/month.
• 68 percent of the parents were not even aware of the availability of short-term health insurance.
Typically, most adult children who are students will lose their coverage when they attain a certain age, graduate or are no longer attending school on a full-time basis. Since most of these new college graduates won’t have coverage until after they have found a job, many find themselves falling through a gap in coverage. Companies such as Assurant Health can fill that gap with policies that cover periods ranging from one to twelve months in Illinois.
The enrollment process for such policies is simple and fast. Applicants can go online to answer a series of yes/no questions and coverage can begin the next day.