Health insurance can be intimidating. It’s expensive, it’s complex, and it can – at times – seem like an unnecessary expense. If you are a Millennial or younger, you may feel that you are not quite “adult” enough for health insurance or you may feel that you are healthy enough that it is a waste of your money.
However, health insurance is definitely necessary at every age. All it takes is one time getting sick or injured to have your hospital bills add up because you were not insured. So where do you begin then? Don’t worry, our health insurance team breaks down health insurance options for Millennials.
Options for Health Insurance Coverage
When it comes to health insurance, there are several options, especially when you are younger and healthier. Health insurance is not a one-size coverage fits all. Here are some options that are broken down by age.
18-25 years old
Stay on your parent’s plan. If you are under the age of 26 you can remain on your family’s health insurance plan. Keep in mind, there’s a cost that comes with this – it’s not like it is free after all. Your parents are footing the bill. In many cases, it may be cheaper to get your own!
Insurance through your college. If you are a student, most colleges will offer health insurance while you are enrolled. However, they only cover you when you’re on campus (sorry, spring breakers). College policies are also upwards of $300/month.It may be cheaper and provide better coverage to have your own insurance policy.Compare your college coverage, give us a call!A lot of college students find that subsidies for Obamacare get them great coverage at a very low cost.
Catastrophic plans. AKA high-deductible plans. This plan has significantly lower premiums, yet cover you for major things. This is a plan designed for someone that is generally in good health.They save you a ton of money and give you peace of mind if anything major happens to you.
Medicaid.As a millennial, you may think you are too young (that’s Medicare) but Medicaid is available for anyone. If you are low-income you may be eligible for a reduced-cost program through the State.
Insurance Marketplace.Most Millennials have heard of Obamacare. If you are making too much money to apply for Medicaid but still not making enough,you canconsider Insurance that allows for financial assistance or subsidies.
McKnight & McKnight saves you time (and all those annoying phone calls and emails from the Insurance Marketplace) while finding the best fit for your health care needs and budget for monthly premiums. There’s no obligation – call our 5-star team today and learn your coverage options in minutes.
I Work Full-time, what are my Options?
You may be able to sign up through your employer for group health insurance. The monthly premium may be subsidized or fully covered. Often times you can pick from a variety of health plans that best suit you and your financial interests.
However, not all professions offer access to quality health care or it may be too costly to insure the rest of your family under your companies group plan (example: teachers). Some may find that their group insurance is too costly.
Our Tampa-based health insurance brokers primarily help self-employed people and small business owners too. We have helpedindependent contractors/consultants, Real Estate Agents/Brokers, teachers, churches, retirees, college students, and COBRA recipients.
If you don’t like your group coverage through workor are self-employed and want an affordable health insurance plan, call our insurance agents today. We can even help those with pre-existing health issues.
Picking the Right Health Insurance
Picking out the right health insurance plan is about figuring out your current health care needs and finances.
Millennials often favor convenience and immediacy. If you would rather go to urgent care when you are sick instead of trying to make an appointment with your primary care physician you will need to look for a plan that covers these costs at lower prices.
Many plans are now offering telemedicine or electronic communication for minor ailments. These services are great for a Millennial that does not have time to make an in-person appointment and they can call/video conference from the ease of their home.
You may also want to consider plans that include prescriptions if you use medication regularly. Catastrophic plans and certain individual marketplace plans do not cover prescriptions until after you have met your high deductible.
Finally, if you are interested in dental insurance or vision insurance make sure to shop around for plans that include more than the basic health insurance coverage.Don’t worry: we can talk you through your options for these too.
Making Health Insurance Easy for Millennials
As a young and healthy Millennial, shopping around for health insurance can feel complicated and daunting. At McKnight & McKnight Insurance, we help you research all your options and make shopping for your health insurance coverage simple. We have an in-depth knowledge of all insurance products and companiesand will help you find the perfect health insurance plan that is tailored to your specific wants and needs and budget.
We offer complimentary quotes and policy reviews and are ready to help you make one of the most important adulting decisions. You can fill out a free quick and easy online questionnaire, email us at firstname.lastname@example.org, or callus at 813-792-2301.