Our daughter is on our family health plan which covers adult children through age 26, even if they are not students. The plan is through Independent Health here in Western New York, a good local provider. I purchase the plan through my local bar association. The plan has no yearly or overall cap.
Daughter will be 26 in a month and is a new graduate student in NYC. She is included in the NYSHIP plan for CUNY grad students, but that plan has a yearly cap of $350,000 for in network expenses, but does not seem to have an overall cap. I would like to buy her some type of umbrella health coverage in case there was a catastrophic event, but that does not seem to be available. I could also COBRA her for a few years on my plan, but that would include redundant coverage at the low end for doctor visits and the like which she has on the NYSHIP plan, and will be very expensive.
Does anyone have any thoughts on this. Is $350,000 in yearly coverage enough? Has anyone ever heard of a pure umbrella that would only kick in above $350,000, or some other amount above that? Am I just being a worrywart?
Thanks for the help.
Daughter will be 26 in a month and is a new graduate student in NYC. She is included in the NYSHIP plan for CUNY grad students, but that plan has a yearly cap of $350,000 for in network expenses, but does not seem to have an overall cap. I would like to buy her some type of umbrella health coverage in case there was a catastrophic event, but that does not seem to be available. I could also COBRA her for a few years on my plan, but that would include redundant coverage at the low end for doctor visits and the like which she has on the NYSHIP plan, and will be very expensive.
Does anyone have any thoughts on this. Is $350,000 in yearly coverage enough? Has anyone ever heard of a pure umbrella that would only kick in above $350,000, or some other amount above that? Am I just being a worrywart?
Thanks for the help.