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Health Insurance for College Grads

College graduations are right around the corner, in fact a few of you may have already graduated or be graduating this weekend. If that’s the case – we want to say “congratulations” on the crowning achievement to your hard work and dedication.

Now, there are new things to consider – finding a job, moving off campus, and then of course – health insurance.

Health insurance? Well, yes, if you’re over the age of 26 and no longer able to be on your parent’s health insurance, then you have to consider your health care options. Though open enrollment has ended, you have 60 days from the date you lose your school-based insurance to visit healthcare.gov and enroll in a plan, if you choose.

Under the Affordable Care Act (ACA) everyone is required to have health insurance for nine or more months during 2014 or pay a penalty. That penalty is $95 or 1% of your annual income (whichever is greater).

If you have already been offered a job, be sure to ask about your benefits. If you’re under the age of 26, see if your parents are willing to keep (or add) you to their plan. However, if you don’t fall in either of these categories, consider what options you may have under the ACA.

Not knowing how much money you will make in 2014 does pose a challenge for those of you who want to purchase insurance, especially in South Carolina where our state has chosen not to expand Medicaid. There are income requirements to purchasing health insurance through the ACA Marketplace.

Have questions or want to sit down one-on-one with a Certified Assistor to see what your options are? You can contact Lee Patterson by phone at 231-6383 or email to set up an appointment.

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