Health Insurance 101 for Young Adults
June 23, 2021 | Tags:
Health insurance is used to help cover medical expenses for illnesses, injuries and other conditions that can come up unexpectedly. If you recently graduated college and are starting your first professional job that offers health coverage or turn 26 soon and are no longer eligible to be on your family’s plan, you may have questions about your future healthcare coverage. We are here to help.
Difference Between Employer and Individual Coverage
If you just started your first professional job, you may have been offered health insurance through your new employer. With these plans, your employer will typically share the cost of your premium with you and will provide a plan for you if you elect to receive coverage from them. You do not have to enroll in your employer coverage if you do not want to. If you are currently covered on your parent’s health plan, you can elect to stay on that up until the age of 26. After that you will need to either enroll in your employer coverage or an Individual ACA plan.
Individual health insurance plans are purchased and selected directly by you. Learn more about popular plans that many young adults choose and read through our FAQs.
Common Health Insurance Terms
It can be overwhelming when you first hear all the terminology that is used in the healthcare world. That is why we put together a glossary of common health insurance terms that define many healthcare terms that may be unfamiliar to you. Below are some common terms that you can learn more about in the glossary.
- Premium – A payment you make to your insurance provider to keep your coverage. Payments are usually made every month.
- Deductible – The amount you pay for your healthcare services before your insurance plan starts to pay.
- Copayment – A fixed amount you pay to a healthcare provider at the time you receive a service. Depending on the plan you choose, copayments may not apply.
Finding a Provider
Every health insurance plan gives you access to a network of doctors and facilities that you can use for medical care. Using providers in your health plan’s network ensures that you are receiving covered services instead of going out-of-network and risk not being covered. Our Provider Directory can help you find a doctor that is near you and covered in-network. You can also compare doctors’ side-by-side here to help determine which one is right for you.