Press Release- Insurance for Recent Graduates
The following press release was provided by the State of Wisconsin Office of the Commissioner of Insurance:
Graduates Should Pay Attention to Health Insurance Deadlines
Madison, WI--Recent graduates of high school or college who've been covered under parents' group health insurance plans should plan immediately for health insurance coverage. Checking the policy is the first step, according to the Office of the Commissioner of Insurance (OCI).
"If you've graduated this spring and are unsure about your health insurance, check into it now," said Eileen Mallow, OCI assistant deputy commissioner. "If you don't understand your continuation rights, contact the employer's human resources department, an insurance agent or our office."
Many health insurance policies assign "dependent" status to children under the age of 19. In addition, children who are 19 or older and are full-time students often may continue to be covered as dependents under the parents' policy until they graduate or until age 24. To determine the details, check the policy.
The right to continue group health insurance coverage--or convert to a new individual policy--expires within certain timeframes under either state and federal continuation laws. Paying attention to deadlines is important.
"The financial burden caused by an illness or accident can keep people in debt for a long time," Mallow said. "Take advantage of access to group health insurance."
Both Wisconsin law and the federal COBRA law guarantee people who qualify the right to continue health insurance coverage after a change in employment, for example. If both state and federal law apply to an individual, whichever law is most favorable to the policyholder is applied.
Graduates Should Pay Attention to Health Insurance Deadlines
Madison, WI--Recent graduates of high school or college who've been covered under parents' group health insurance plans should plan immediately for health insurance coverage. Checking the policy is the first step, according to the Office of the Commissioner of Insurance (OCI).
"If you've graduated this spring and are unsure about your health insurance, check into it now," said Eileen Mallow, OCI assistant deputy commissioner. "If you don't understand your continuation rights, contact the employer's human resources department, an insurance agent or our office."
Many health insurance policies assign "dependent" status to children under the age of 19. In addition, children who are 19 or older and are full-time students often may continue to be covered as dependents under the parents' policy until they graduate or until age 24. To determine the details, check the policy.
The right to continue group health insurance coverage--or convert to a new individual policy--expires within certain timeframes under either state and federal continuation laws. Paying attention to deadlines is important.
"The financial burden caused by an illness or accident can keep people in debt for a long time," Mallow said. "Take advantage of access to group health insurance."
Both Wisconsin law and the federal COBRA law guarantee people who qualify the right to continue health insurance coverage after a change in employment, for example. If both state and federal law apply to an individual, whichever law is most favorable to the policyholder is applied.
posted by Kirby P at 9:43 AM
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