Comments on: Do You Need Health Insurance in Your Twenties? http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties Personal Finance for the Young and Ambitious Sat, 21 Nov 2009 04:23:03 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Thekla Richter http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties/comment-page-1#comment-856 Thekla Richter Fri, 13 Mar 2009 03:12:19 +0000 http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties#comment-856 "Employers are required to provide health insurance for full-time, permanent employees, although the start of coverage can be deferred for a period of time, sometimes up to six months." As an FYI, this is not acutally true in most US states/localities. There are many rules employers must follow IF they offer health insurance, but there are few places where they legally MUST offer it in the first place... though for employers above a certain size, not offering it would be pretty rare. I would also remind people that if you are eligible for insurance through your employer, you may have only a limited time after hire to sign up, or else have to wait until the next open enrollment or a life change that meets certain criteria. Make sure that you understand enrollment deadlines for employer-based coverage. Excellent and informative article! “Employers are required to provide health insurance for full-time, permanent employees, although the start of coverage can be deferred for a period of time, sometimes up to six months.”

As an FYI, this is not acutally true in most US states/localities. There are many rules employers must follow IF they offer health insurance, but there are few places where they legally MUST offer it in the first place… though for employers above a certain size, not offering it would be pretty rare.

I would also remind people that if you are eligible for insurance through your employer, you may have only a limited time after hire to sign up, or else have to wait until the next open enrollment or a life change that meets certain criteria. Make sure that you understand enrollment deadlines for employer-based coverage.

Excellent and informative article!

]]> By: Angelica http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties/comment-page-1#comment-855 Angelica Sat, 28 Feb 2009 18:56:00 +0000 http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties#comment-855 YES!! I tell everyone that is young and working that they need insurance. Last year, I was unemployed but thankfully my dh bought some private insurance for me. It was only $180/month but the deductible was high $2500/yr with 80/20 coinsurance. Of course, when this was purchased, we assumed I was a healthy 28 yr old. I was DIAGNOSED with cancer 7 months later! Had to undergo 3 surgeries, chemo, and radiation. Had I not had insurance, I would have been in major debt. I was able to stay in the same policy but just change the plan to an HSA compatible $1500/yr deductible with 100% covered after that and did not have to go through medical underwriting again. I am very thankful that I had the insurance and its ironic because I always used to think insurance was a waste of money. Heck, I was a healthy 28 yr old wasn't I? So now I urge young people to make sure they have some kind of coverage even if it has a high deductible. God bless. YES!! I tell everyone that is young and working that they need insurance. Last year, I was unemployed but thankfully my dh bought some private insurance for me. It was only $180/month but the deductible was high $2500/yr with 80/20 coinsurance. Of course, when this was purchased, we assumed I was a healthy 28 yr old. I was DIAGNOSED with cancer 7 months later! Had to undergo 3 surgeries, chemo, and radiation. Had I not had insurance, I would have been in major debt. I was able to stay in the same policy but just change the plan to an HSA compatible $1500/yr deductible with 100% covered after that and did not have to go through medical underwriting again.

I am very thankful that I had the insurance and its ironic because I always used to think insurance was a waste of money. Heck, I was a healthy 28 yr old wasn’t I?

So now I urge young people to make sure they have some kind of coverage even if it has a high deductible. God bless.

]]> By: Toronto life insurance broker http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties/comment-page-1#comment-854 Toronto life insurance broker Wed, 07 May 2008 20:18:55 +0000 http://www.moneyunder30.com/do-you-need-health-insurance-in-your-twenties#comment-854 That's important notice! We have in Canada mainly public health insurance, but I encourage young people to take additional health insurance (I am dealing mainly <a href="http://lsminsurance.ca" rel="nofollow">Life insurance in Canada</a>, but health insurance too), which covers side care (dentists, drugs...). I believe importance of health insurance is even more important when you are young - if something happens (accident, illness - justanything), you have to deal with big debts then. And you have no career, no property, nothing to solve it in your twenties. Lorn That’s important notice! We have in Canada mainly public health insurance, but I encourage young people to take additional health insurance (I am dealing mainly Life insurance in Canada, but health insurance too), which covers side care (dentists, drugs…). I believe importance of health insurance is even more important when you are young – if something happens (accident, illness – justanything), you have to deal with big debts then. And you have no career, no property, nothing to solve it in your twenties.
Lorn

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