With the uncertain fate of the national healthcare bill and a scarcity of jobs available, health insurance takes on new meaning for recent or soon-to-be college grads.
“The difference now is that people aren’t graduating and finding professional jobs that would have had benefits and insurance to protect them,” said Dr. Margaret Lewin,
Medical Director of Cinergy Health.
One option for graduates is a short-term health insurance plan that could range from approximately $65 to $78 per month (depending on the insurance carrier) and that would offer flexible coverage at a fairly reasonable price. Some insurance carriers also offer a 20 percent discount on their short-term premiums if the individual pays the six-month duration up front.
“The short-term plan has limited benefits,” said Dr. Lewin. “It doesn’t cover catastrophic illness but it will cover routine checkups and is definitely better than having no insurance coverage.”
Another option would be to receive insurance as a part of a larger professional society, such as a freelance writer’s group which would offer a larger plan and deal for group health insurance coverage.
“I have a job lined up that has health benefits, but I definitely picked the job with the health benefits in mind,” said senior finance major Alison Nute. “I found the whole process a bit overwhelming.”
Joining the armed forces or Peace Corps is another way students will stay covered with health insurance directly after their graduation date, and for some this is a driving point towards specific careers.
“I plan to join the military after graduating which I think will be a good alternative to a professional job because it will pay for my health benefits,” said senior political science major James Davis.
UNH has health benefits through the UNH Student Health Benefits Plan (SHBP), which includes full time students – both undergraduate and graduate students - and it expires in late August. However, it does not have any type of benefits or provision available for students after they graduate from the university. Enrollment in the SHBP is required for students unless they can prove they are under another plan. For a single student the cost for the SHBP plan is $810 per semester.
“The renewal process will be taking place in the next few months, so I can’t say if there will be any changes at this point,” said Cindy McGahey, the director of finance and administration for Health Services. “Any changes would have to be weighed against any costs that would be associated with them.”
At this point in time, there are no plans to extend this to UNH graduates.
“We are willing to work with a university to set up a graduate insurance program,” said Ron Ghilino CLU, manager of advisory services at Meyer and Associates, UNH’s health insurance provider. “It’s not a question of capability, but more a question of what would meet the particular university’s needs.”
UNH administrators are also looking into changing the schools policy, and say they are open to questions and discussion on the topic.
“We are ultra-sensitive to the fact that students are leaving UNH without insurance and this program is not one more option they have,” said Sarah Potter, Associate Executive Director of Administration at the Alumni Center. “We always welcome questions about our health insurance policy for students and will have more information for them when they pick up their cap and gowns.”
The decision to pay for temporary insurance until one finds a job or to merely have no insurance at all depends on the individual.
“I am planning on grad school, however I will be taking a year off after I graduate,” said senior Brittany Boivin. “Even though I won’t be insured for that one year I am not really worried because I don’t get sick too often. I mostly will miss the yearly checkups but other than that I don’t think it will be that bad.”
Many recent graduates choose not to be covered by an insurance plan while they look for long-term employment because they view themselves as young and therefore, relatively healthy. However, by not protecting one’s self there is a big risk to consider. “It is a difficult situation because health insurance is different in every state,” said Ghilino. “As an insurance agent, I would never recommend that a person, especially college grads, go without health insurance because you just never know. If something did happen and a student was not covered, they could find themselves insurmountable debt between student loans and medical bills that would be very hard to come out of.”
Most students agreed that a class or seminar regarding insurance would be beneficial.
“UNH should have a basic life course that could explain things like health insurance or a 401k in greater detail,” said Bianculli.
“A class would be helpful because I honestly was not aware of my options or what my current plan entails,” said senior Gina Sparrow.
UNH officials and insurance agents agree that the important thing is to try to continue one’s insurance in some way after graduating.
“I do understand that for some it is either pay for health insurance or pay for food, however I would recommend to graduates to stay insured and avoid taking a huge financial risk,” said Ghilino. “Most can get away with this risk, particularly if they are in good health; however, it’s too large of a risk to take in my opinion.”
Dr. Lewin agreed.
“My advice for grads would be to not put off their decision in regards to insurance because it can take a long time to find adequate employment and it is not worth the risk,” said Dr. Lewin.
Follow Kerry Feltner on Twitter at twitter.com/kerr14felt
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