As we grow older, certain responsibilities arise. For instance, you’ll eventually need to purchase your own health insurance policy and move off your parents’ policy. It’s all a part of growing up.
We’d like to help all millennials find the perfect health insurance policy in the easiest, most effective way possible.
The Stages of Health Insurance
There are four stages of health insurance “adulting.” These include:
- Ages 18 to 25 — At this point, you’re still on your parents’ health insurance policy and are enjoying the good life (that is, free of premiums). Until you turn 26, you’re golden. However, if you do want your own policy, many colleges and universities offer affordable health plans for their students.
- Age 26+ — Now is the time to purchase a catastrophic plan. Essentially, this is a policy with a low premium and high deductible designed to offer the bare minimum in terms of benefits. It’s the ideal plan for a healthy individual under 30.
- Age 30+ — Around this time, you’ll start actively seeking out a new health insurance policy. If you once had a catastrophic plan, you’ll automatically transfer to a new policy with similar benefits. However, you can shop around on the Marketplace at your leisure. You may also wish to enroll in Medicaid for a reduced-cost policy.
- Full-Time Job — If you have a full-time job, take advantage of the many benefits that your company offers. You can sign up for a workplace health insurance plan, or a group health policy, as they’re sometimes called, and enjoy subsidized monthly premiums.