Congratulations to the Class of 2022 graduates! With graduations in full swing, now is the time to start seriously planning for your future. One important subject to consider is your health and, with that, your health insurance. Are you starting a job that offers health insurance? Are you still eligible for health insurance with your parents? Is your school’s health insurance about to end? It is important to ask yourself the right questions to make an informed decision about your health insurance.
There are a variety of health insurance options for new graduates. If you are still a tax dependent of your parents, you may want to consider staying on your parent’s health insurance if that is an option. If you are offered insurance by an employer, you most likely should elect the insurance offered from your job. If you have a spouse that has good group benefits with his or her job, you may want to see if it makes sense to be on their group coverage.
Health Insurance Options
- Covered CA – if your household income is below 600% of the Federal Poverty Level, you may qualify for premium assistance through Covered CA. Please note, if you or a spouse is offered insurance by an employer, it is very unlikely you are eligible to apply for premium assistance through Covered CA.
- Off-exchange/direct-to-carrier – if you are ineligible for premium assistance from Covered CA due to a high income, you may want to consider applying directly with an insurance carrier (AKA off-exchange). There are a few more insurance plans off-exchange vs through Covered CA. The Silver 70 plans are slightly more expensive through Covered CA vs off-exchange.
- Group health insurance- if your job offers you health insurance, you most likely will want to elect the group coverage
- Medi-Cal – if you have little to no income, you may qualify for Medi-Cal, California’s version of Medicaid. An individual making less than $1,564 per month is eligible for Medi-Cal.
While the insurance options may seem overwhelming, all it takes is 10-20 minutes with an insurance broker to help you find the right plan for your needs. As an independent insurance brokerage, we can help navigate through all of the available health insurance options for you so that you can make the best decision possible. Please contact us at 310-909-6135 or email us at [email protected] for us to better assist you. At Solid Health Insurance Services, we strive to help our clients find the right health, dental, vision, life, and long-term care insurance which best fits their budget and medical needs.