Health Insurance for almost independent children

[jj]

Thinking about almost independent children reminds me of a question I wonder about.

When kids have left college and are on their own do you insist that they have medical insurance, and pay for it if need be? I can imagine a scenario where a 22 year old, thinking they're invincible and healthy, would decide that health insurance is an unnecessary cost. This could be a retirement breaker for a parent who would surely step in to pay for some catastrophic event/illness.

Thoughts anyone?

[Mr._johngalt]

Originally Posted by jj

Thinking about almost independent children reminds me of a question I wonder about.

When kids have left college and are on their own do you insist that they have medical insurance, and pay for it if need be? I can imagine a scenario where a 22 year old, thinking they're invincible and healthy, would decide that health insurance is an unnecessary cost. This could be a retirement breaker for a parent who would surely step in to pay for some catastrophic event/illness.

Thoughts anyone?

We always made sure my youngest was covered. After I retired
and after divorce No. One, I paid until she was 18 (four years).
By then her mother was employed, so I assume she was
covered in that way. I know she had coverage through college
(not too sure who was paying) and now she is working, so there
never were any real gaps. I agree that if it was left to the kid they might just opt to skip it.

JG

[KB]

I have 2 boys, 19 and 20. Both were on my Individual family plan after my ER until they turned 19 and had to roll off on their own plan (Kaiser HMO requirements). Neither were interested in paying for their own and would have gone without coverage.

Having worked 30 years in the Health insurance Industry, I chose to enroll them in their own plans and pay for their coverage. It's $88 a month each for a $1500 annual deductible plan. Well worth the cost of having coverage in case of a catastrophic illness or injury.

Both should have their own coverage early next year, one from his employer and the other from the Army. Until then, I'm gladly paying so I don't have to worry about them.

[Patrick]

Some people I know go bare and if they have an illness or injury go to the County hospital, where if they don't pay the taxpayers absorb the cost. The hospital has to provide life-saving treatment regardless of ability to pay. Might ruin their credit, though.

[ERD50]

Originally Posted by KB

It's $88 a month each for a $1500 annual deductible plan. Well worth the cost of having coverage in case of a catastrophic illness or injury.

I didn't realize you could get a policy at that price. That is pretty reasonable for the peace of mind. This is where insurance makes sense, pay a relatively small amount, but get protection from the small chance of a big hit.

Just like your fire insurance on your house, you hope you never need it, but it seems to be worth it.

-ERD50

[donheff]

Originally Posted by jj

When kids have left college and are on their own do you insist that they have medical insurance, and pay for it if need be? I can imagine a scenario where a 22 year old, thinking they're invincible and healthy, would decide that health insurance is an unnecessary cost.

My nephew graduated from college, lost his school health insurance, and didn't pick up a replacement. During the summer after he graduated he learned he had a bad case of testicular cancer. My brother worked with some friends at a local university and got him enrollled in grad school. Somehow the new school health plan was able to pick up from the old or in some fashion he was able to avoid the "pre-existing" condition deal. My nephew went through 5 operations and was fully disabled for more than a year. My brother would have ended up spending everything he had saved if his son couldn't get health insurance.

I covered my son on a low cost health plan until he was gainfully employed with a good plan. I will do the same for my daughter. If either of them becomes an unemployed wastrel I will pop for health benefits. No matter how irresponsible a kid might be, I can't see sitting around watching them suffer without helping so an uninsured catastrophic illness would end up wiping my savings out.

It infuriates me that the richest country in the world presents us with this choice.

[LRS]

I had a friend in college who was athletic and healthy, until he stuck the business end of a ski pole through his lower jaw. He was uninsured and ended up with a bill of $10000 (in 1977 money).

I think I'll keep my kids on my insurance until they graduate from college. Those are the terms of my insurance policy. I'd like to cover them until they find coverage post-college, and just call it a Christmas/Birthday present.


(Edited to remove evidence of drinking while typing.)

[Telly]

In Texas, TX law requires health insurance companies to continue to cover kids on their parents policies beyond age 18, all the way up to age 25, as long as they are students.

So far, this has not been an issue with us, the graduate got insurance right away thorough the job, then 2 weeks later I cancelled that part of the policy I had at the time.