Health Insurance for Your Co-ed

The right health insurance for students who are leaving college and who can no longer be covered under their parents' policies depends on the circumstances. Short-term coverage, which costs about $75/month and does not cover preexisting conditions, may be adequate for someone who is healthy and likely to find a job with benefits shortly after graduating from college. A comprehensive major medical plan with a low deductible can cost $400/month and may provide few benefits at a high cost for someone who is healthy. A major medical plan with a $1,000 deductible may be a better choice for the long term, for about $200/month. But first check with the college-some schools make inexpensive plans available for full-time students and alumni.