Congratulations, grads! Got insurance?

Many college graduates are left without insurance
by AMANDA GARRETT
VINDICATOR STAFF WRITER
During this time of year, many college students are earning their diplomas and losing their health insurance.
Nineteen to 29-year-old adults are one of the largest and fastest growing segment of the uninsured in America, according to a 2004 study from the Commonwealth Group, a private, nonpartisan group that funds research on health care issues.
The Commonwealth survey found that nearly two of five college graduates and one-half of high school graduates will spend some time of their lives without health insurance.
Matthew Kiraly of North Jackson, who is a graduating chemical engineering student at Youngstown State University, will soon be without health insurance.
"I'm on my parent's insurance plan right now, and I'm not sure what I'm going to do after I graduate, and I don't find a job right away," he said. "Until now I haven't thought about it very much, but I know I don't want to go without health insurance."
A solution
A short-term health insurance plan is a good option for recent graduates until they land a full-time job with health insurance benefits, said Stan Sieniawski, owner of InsureOne Benefits Inc. in Litchfield, Ohio.
With short-term health insurance, customers can buy monthly insurance coverage without having to make a long-term commitment. The plans are ideal for recent college graduates or people in between jobs, Sieniawski said.
As an example, Sieniawski said he sells one plan under which a healthy 22-year-old nonsmoking adult male would pay less than $100 a month for coverage with a $500 deductible.
Customers can choose to pay once a month or once every six months, Sieniawski said. For an additional price, customers can add emergency care, prescription medication, dental and vision care and critical illness coverage.
Sieniawski's product is similar to a lot of short-term insurance programs on the market, said Teresa M. Riley, an economics professor at Youngstown State University.
While it is difficult to tell which of the insurance policies is the best value, customers should make sure they are protected in case of critical illness or a catastrophic accident, Riley said.
The loss of health insurance for college graduates is part of an overall trend of more and more people going without health insurance, Riley said.
"The premiums for health insurance are rising 3 percent faster than inflation," she said. "Because premiums are rising so dramatically, employers are pushing more and more expenses off on their employees, which means more and more people are doing without health insurance."
Who else?
Recent college graduates are not the only group that can benefit from short-term medical insurance, Sieniawski said.
Short-term health insurance plans are an ideal alternative for people in a variety of situations, including:
Recent college graduates
People between jobs
Temporary or seasonal employees
For a listing of short-term health insurance policies go to www.health--savings--accounts.com.
agarrett@vindy.com