recent gradwhat every

needs to know about

insurancecourtesy of darraslaw

GETTING INSURED IS THE LASTTHING ON A GRADUATE'S MIND.

but it shouldn't be.

here are 3 types of insurance everygrad needs to know about

& how to get covered.

health insurance

under the affordable care act, you'rerequired to have health insurance.

if you're not covered, you're faced with a penalty = 2% of your income or $450 - whichever is higher.

that penalty will increase in 2016 t0 2.5% of your income or $695 per adult.

health insuranceHOW CAN YOU GET COVERED?

OPTION #1: you can stay on yourparent's plan until you're 26.

this applies even if you're married, not living at home, or not financiallydependent on your parents

health insuranceHOW CAN YOU GET COVERED?

OPTION #2: PURCHASE COVERAGE THROUGHTHE HEALTH INSURANCE MARKETPLACE.

The Marketplace helps you find & enroll inan insurance plan that fits your budget &needs

open enrollment begins in november, endsin february

recent grads can still get covered viaspecial enrollment periods - find out how.

WHAT IF THESE OPTIONS DON'T WORK FOR YOU?

if you're no longer covered by yourparent's plan or your student plan

if you're seeking coverage until openenrollment benefits begin

if you're employed & waiting for groupcoverage to kick in

if you're looking for a job, between jobs ordetermining your next step

you still have optionsshort-term major medical insurance

visit gradmed.com to see if this coverage isright for you.

if you need to cover the costs of seriousillness, this coverage is fairly inexpensive- but has many limitations

you may be eligible for free or low-costcoverage through Medicaid & the Children’sHealth Insurance Program. learn more.

catastrophic coverage

medicaid & chip

renter's insurance

60% of 18-29 year olds are renters

only 37% of renters in the u.s. haverenter's insurance

84% of americans don't know how muchrenter's insurance costs - or think it'smore expensive than it really is

renter's insurancewhy get it?

your stuff is more expensive thanyou think it is.

the average renter owns $20,000 worth ofpersonal property

your landlord's insurance won't coveryour personal belongings

it pays to repair/replace your stuff if it'sstolen, destroyed or damaged

renter's insurancewhy get it?

it's really cheap.premiums average between $15-$30 permonth

$120-$150 a year can get you $200,000 ofpersonal property coverage

find out what else renter's insurance cancover and how to get it here.

life insurancewhy get it?

the costs are lower.life insurance premiums are based on ourage & rates usually increase as you getolder

it's easier to qualify and get lowerpremiums as a healthy young adult

you could save hundreds of dollars peryear, for as many as 30 years, if you getcovered now

life insurancewhy get it?

because your family memberco-signed your student loans.

if you die, your family member isresponsible for the debt if they signed or co-signed the loan for you

life insurance can help pay that debt

federal loans are canceled upon death, but most private loans are not

life insurancewhy get it?

it's not just about the death benefit

you can use your life insurance policy as a savings component

you can borrow against it & use it forretirement, depending on the policy &provider

for more info

on our blog

become an insurance-savvy graduate.

to compare insurance companies, get quotes & more - check out insureuonline.org.

for the latest health & insurance news andtips, check out darraslaw's free resources:

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