<p>Actually, he has a few more months on ours, but next year he will be entirely out in the cold. He recently graduated from college, and is pursuing his dreams. He got himself a dream job (in a very competitive field – his first!) but was hired as an independent contractor, so does not get any benefits. He works 4 full days there and is actually not interested in becoming full-time because he is also an entrepeneur and has started a business which is off to a good start. In short, he works extremely hard and is very ambitious and dedicated. (Incidentally, he was quite the slacker in HS – barely graduated.)</p>
<p>My questions are: What are his options for medical insurance? He makes too much money for medicaid, but lives in a very expensive city, so there is not a lot of discretionary income.</p>
<p>And, is it a bad idea to help him pay for his own insurance? My H and I have debated this, wondering if this is a road we should start on, lest we never get off! On the other hand, if God forbid anything should happen, we as his parents could potentially end up paying for his medical bills. I know we aren’t technically responsible for his bills, but how could we not help him out if some catastrophe befalls him? We are comfortable enough that we could help, but as anyone knows, medical bills can wipe out savings. </p>
<p>I guess the larger question is how much do you help your child after s/he graduates from college? After reading numerous threads debating the pros and cons of letting your (younger) children stand on their own two feet and facing the consequences of their actions (and I generally agree with the ‘tough love’ stance), I wonder, would you let your own child be without health insurance?</p>
<p>Depending on his profession, he might consider joining the appropriate professional association. They sometimes offer group health insurance at reasonable rates to members. You might offer to cover his health insurance costs for a limited period of time, for instance, as a graduation/housewarming present, rather than take the chance he will go without.</p>
<p>Catastrophic health insurance or insurance with a really high deductible might be a good idea. Don’t know if it makes sense to point out that if he’s uninsured, he risks bankrupting you – assuming, if he needed it, that you’d pay for medical care no matter what the cost.</p>
<p>Why doesn’t your S just check out health insurance options himself? </p>
<p>I think he should be the one to acquire and pay for his own health insurance. Ditto with car insurance, utility bills, food, housing, etc. It’s time he finds out what life costs. If you pay for it yourself he won’t have a realistic view of costs and may be less inclined to make a responsible living.</p>
<p>Check with your insurance company and see if they have options he might have to transition off of it. He may be able to have coverage through them for some period of time on his own but the rates will likely be much higher than now.</p>
<p>Not in our family we wouldn’t. After our D graduated from college, she continued “full time student” status by taking classes at the local community college (which allowed her to remain on our insurance) while working part-time. We were lucky - she found a full-time job (with benefits effective immediately) the last week of class. We did tell her, however, that one way or another, health insurance was an absolute must and if she couldn’t get it through us or her job, she would have to obtain private coverage and if she couldn’t afford the premium, we would pay for it until she could. In our experience, our willingness to pay for the insurance did not lessen her desire to find a job with health benefits, and demonstrated to her the importance of having access to health care.</p>
<p>As a former dependent, your S should be entitled to health insurance under your current plan per COBRA (Continuation of Benefits…), for up to 3 years I believe. In our area, for D, COBRA is approximately $300/mo. The cost of private insurance* is comparable, but COBRA coverage may be a little better because of certain federal laws, for reasons I can’t recall now. It is important to maintain insurance continuously not only for obvious reasons, but also because if you can show continuous coverage it will be easier to get insurance later, when COBRA runs out. There are a number of excellent federal publications on COBRA and the HIPA (Health Insurance Portability Act???) laws; you can also consult your employee benefits department for more information.</p>
<p>*One source for private insurance may be your S’s college alumni association. I know we looked at that very seriously for our D.</p>
<p>ucsd_dad, of course, he has checked out options himself. And I agree that he should pay his own way and he does – we don’t pay for any of his living expenses. As responsible and hard working as he is, he is still a typical 23 year old man. He just doesn’t seriously entertain the idea that anything can happen to him. As a freelancer myself, I have numerous colleagues who are, or have been, uninsured. It isn’t a question of “responsibility”, but rather a problem of cost. I do agree that he needs to find out what life costs, but it seems to me that the lack of health insurance combined with a medical emergency could teach him exactly that: the price of a life.</p>
<p>^
IMO, health insurance trumps most other living expenses–it can be a matter of life and death. Is there any union/association (that is, “group”) plan your son is eligible for?</p>
<p>Is it that he can’t afford to pay for it or that he won’t pay for it because he’d rather spend his money on other things?</p>
<p>I know I sound a bit harsh but I don’t think parents should be saddled with paying for a college grad adult’s basic expenses - especially if that same individual manages to buy a new car, take an expensive trip, live in an expensive place, etc. I’m not saying this applies to your S.</p>
<p>Both of our kids, D24 and S19 have been raised with the idea that health insurance is of primary importance. We have talked about bills that have come in and how much they would have cost without insurance. There is no option for them not to have coverage. D did have to make use of her COBRA benefits under my H’s policy twice. The first time was right after she graduated college and was still looking for full time work. She got a job in September, with benefits starting in November. We paid the premium ($500/mo) for June, July, and August. She picked up for Sept. and Oct. From now on, if she is without benefits for some reason, she will pay the premium. She knows the importance of it.</p>
<p>In my opinion, health insurance is too important to leave to your son’s discretion if you have any doubt that he is going to get decent insurance or keep up the payments for it. Ultimately, if a true catastrophe occurs, it will be a heart wrenching decision for you and your H to make, and I have known families faced with such a decision when a loved one is under or uninsured. This is not something to fool around with. This is one area that I would do the research, share all of the info with your son, and make sure the insurance is in place. I would certainly let him know the costs and have him pay you if you end up getting it. COBRA is often the way to go. Though I agree with ucsd_ucla-dad in principle, this is just too much consequence to take chances. There are too many adults out there who let the insurance slip and you do not want your son to be one without the insurance.</p>
<p>It doesn’t even have to be something that sounds like a catastrophe. My recollection is that the hospital bill for when I had a ruptured appendix and spent about a week in the hospital was over $30,000. My insurance covered it, of course. But this wasn’t like getting hit by a truck or having a ski jumping accident. Appendicitis is a fairly common occurrence, can happen to any one any age any time. </p>
<p>Does he live alone in the vary expensive city? Could he save money by having a roommate and use the money saved for health insurance?</p>
<p>It is also important not to have lapse of insurance because you may become un-insurable. I am into tough love, but insurance is something I would pay for if my kid couldn’t afford it. If he has to get Individual insurance, you may want to look for high deductible, it would be a lot cheaper. You really just want to insure against major health insurance expense.</p>
<p>My friend’s son got into a motorcycle accident without insurance. He had insurance and let it lapse because it was just too much money and trouble. Many young people go this route and do not share this decision with their parents. Though the hospital did take care of the rudimental, emergency things, a lot of the aftercare was not obtainable without insurance. It was a very expensive lesson for both parent and son. </p>
<p>I know my second son is going to have a rough go of it if he takes the career path he wants. He will not have regular pay and he is careless and irresponsible anyways. I will certainly make sure he is insured, as I do not want to be in the position of having to pauper ourselves should a catastrophe occur, and I would not have the heart to stand firm even if it is every bit his fault if it is something with medical and life ramifications. Few parents would. This is not an area where you want to take chances.</p>
<p>cptofthehouse, for that motorcycle accident why didn’t the equivalent of their auto insurance (don’t know about it, but I assume they must have motorcycle insurance) pay for that person’s injuries?</p>
<p>My mother has a friend whose son was a gambler. He spent every dime that he earned in a casino. His parents would not give him a dime after trying to help him for years. The one thing that they did for him (and themselves) was to pay for his health insurance!</p>
<p>Re: hospital and medical bills, we’ve seen negotiated rates far, far lower than rates charged to independents. When considering risk, you have to take this into account - that your bill, pre-reimbursement, could be double or more w/o coverage.</p>
<p>Treetopleaf, That is so so true! About 2 years ago, my DH had a diagnostic test that was paid in full by our insurance company after our $50 copay for 1700. The hospital bill showed that their usual charge for that procedure is
10x that=$17,000!</p>
<p>Northeastmom, don’t know the dollar specifics, but the most essential parts of the injury were covered. However, there were areas that were not covered that were a big problem. Still a big problem. Though my friend was willing to let her son have the problem having to resolve medical expenses, she was not willing to have his life and health endangered due to his stupidity in not having health insurance. This is still an ongoing problem with the young man as the consequences of the accident are still open in terms of medical procedure. He also now has preexisting medical conditions that are going to be difficult to cover with independent insurance. It’s a big problem. I know she would tell any parent to cover kids’ insurance if there is any doubt that they are doing so. It is not worth the consequences. Even if the kid is a n’er d well, unless you are sure you can write him off if it comes down to a life/death consequence, get that insurance. Though emergency and immediate life threatening situations are treated, long term things that can be fatal are not. Things like bone marrow transplants, reattachment of limbs are not considered necessary. The list is longer than one would think. It’s one thing that their credit is ruined, another that their life is.</p>
<p>I read an article several months ago about this. The recommendation was to get a catastrophic health insurance policy - say with a $5000 or $10,000 deductible. I would price those and see if it is something your son can afford. If not, really to protect your finances, if heaven forbid the worst happened, I would think you should purchase it for him.</p>
<p>Ditto the recommendation for a catastrophic health insurance policy. </p>
<p>Your son might also check out health insurance through his college’s alumni association. My son did this when he was transitioning from college to a full-time job with benefits. The premiums were very reasonable.</p>
<p>I just tossed out a mailing from some company soliciting extended health insurance for college graduates. I can’t remember the name of it, but I think it came with the blessing of the school, which had probably sold the names.</p>
<p>It must be findable with a little googling, and there should be more than one of these. Young people are good to “insure” because they are more healthy than the old codgers.</p>