I just got out of college, and my family's insurance company dropped me. I don't have a full-time job. How do I get low-cost but quality insurance?

Katherine

Group and non-group insurance covers adults and their dependent children. Laws and regulations define a dependent child as one who has not reached the age of majority, usually 18, or one who is pursuing a college education at least half-time and has not reached a maximum age, such as 23. Since you are no longer a college student, you are no longer a dependent and cannot be covered under your parents' plan.
If you are healthy, meaning you have no existing medical conditions, the loss of coverage is not an insurmountable problem. At your age, insurance is inexpensive and options are plentiful. If you maintain a healthy lifestyle and do not expect to seek medical care to a great degree, you can save even more money on health insurance. Just about any health insurer will issue you a policy without exclusions for medical conditions. Many people in your situation need coverage for catastrophic situations only.

For example, you might shop for an individual health plan with a high deductible amount. The deductible is the amount of applicable medical expenses you must pay before receiving benefits from your health plan; the higher the deductible, the lower the premium. If you only expect to visit a doctor for routine medical care, it makes little sense to purchase a low-deductible health plan. You may also seek a high-deductible health plan that uses a "preferred provider organization" (PPO) and requires only a flat fee for a visit to a doctor or a prescription drug. Many insurers contract with a PPO for a special rate for office visits and pass the savings on to the policyholder. Such coverage costs less than $100 monthly, even as low as $35.

You can obtain premium quotes for a variety of insurance plans with varying provisions from an insurance broker in your area. Insurance quotes are also available in the Internet at several web sites, such as InsWeb, eHealthInsurance, Personal Insurance Center, E-Insure or HealthQuote USA.

If you have pre-existing conditions and think you might have trouble qualifying for insurance, you may be eligible for your own policy from your parents' insurance company or through another insurer based on your previous, continuous coverage. Check with your parents' health plan or employer, or call an insurance professional. Chances are excellent that you are eligible for an affordable insurance solution.