Millions Could Be in Need of Health Insurance This Spring

Graduates will be searching for options

According to a study by Georgi Todorov – “19 Shocking College Graduation Statistics and Facts [2023]” – nearly 3 million students this year will graduate from an accredited college or university, but only 65% of them will have full-time employment within a few months of graduation. A recent banking crisis and other economic turns have analysts warning of a coming recession, which could make work increasingly hard to find for young adults. This could lead to a considerable insurance coverage gap in the marketplace.

Short-term medical (STM) insurance plans can be an option for clients with graduate children seeking budget-friendly health insurance. 

• They can be purchased for a minimum of 30 days, up to 3 years, so the plans are flexible for individuals who do not know when they will have access to employer-insurance coverage. 
• Benefits can include wellness visits, doctor office copays, and coverage for hospital emergencies, surgery, and more. 
• A range of deductible options is available to keep monthly premiums lower.
• New graduates are not limited to mom or dad’s provider network. With Pivot Health STM, individuals can access plans without a network or a PPO option.

 
It’s also important to note that some students may not qualify for a special event to enroll in a parent’s employer-group plan or marketplace ACA coverage, and short-term medical plans can fill that gap while students figure out their next steps in adulthood. 
 
Pivot Health plans can help bridge that gap in coverage for young adults making plans but still uncertain about the future. Short-term medical plans can also be a suitable solution for early retirees, people moving to a new ZIP code, getting married, or changing jobs that include a 30 or 60-day waiting period before benefits begin. 
 
Contact your Allied National representative to learn more about the benefits of short-term medical plans for new graduates.
 
What About Graduate Students?
Some colleges and universities don’t offer the same insurance coverage for graduate students but do require graduate students to be covered. STM plans can fulfill that requirement at a price the student can afford. And, if the student plans to play a collegiate sport while earning a higher degree, Pivot Health STM plans include sport injury protections. 

This blog was provided courtesy of Pivot Health by HealthCare.com.
 

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Allied National

Founded in 1970, Allied is one of the nation's oldest and most experienced third-party administrators. As the small group benefit experts, Allied works with small business employers to provide unique and affordable group health benefits.