By Avi Aranb
The young couples are the most in need of well-planned finances since they are starting with a whole new life with new responsibilities and additional expenses. A wise decision on their part in planning their finances can go a long way, and thus, they need an insurance plan that would cover their specific insurance needs.
Whether it is a good health insurance plan or the best medical insurance plan, they need to study their needs well and understand the amount of premium they are ready to pay at such a stage before choosing any plan or policy.
Health Insurance Options for a young couple
Since there are so many insurance options available in the market, it is difficult to find the best medical insurance plan, especially for the young couples who are the new entrants in the world of finances. Per-medical hospitalization care and post-hospitalization care expenses are also covered under health insurance. There are ambulance covers as well, which are covered in the policies.
If a newborn has congenital disabilities, then the expenses are also covered under the health insurance to enhance the plan’s scope.
Following are some of the insurance options available to a young couple to streamline their choice-
- A health insurance plan sponsored by the employer:
Young individuals working full time also have an option of a health insurance plan. Such an insurance plan option is a better choice since the employer offers to pay a part of the premium costs. But it is also important to consider other factors like the age of the individual and what he has to pay for the insurance cover at the office. Only if it is affordable, should they go ahead with it?
- Health Insurance Plan of Parents:
The young couple also has a chance to stay on their parent’s health insurance plan until they are 26 years of age. Before making their final choice, they must consider whether their parent’s plan covers the hospitals, clinics, and health care providers in their area or not.
- Health Insurance Marketplace:
Those who do not fall in any of the above categories can choose to buy a health insurance marketplace plan. Individuals below 30 years of age can choose to buy a catastrophic plan. The plan needs a lower premium and a higher deductible than any other medical insurance plan.
- Student Health Insurance Plan:
There are a few colleges and universities as well that provide health insurance plans to their students. These plans are attractive to the students since they offer lower premium rates and local providers’ networks.
- Temporary Health insurance:
Short-term health insurance or temporary health insurance is economical and alcoversedical bills arising out of accidents and illnesses. Such policies are available for a minimum of 30 days to 364 days. It also depends on the individual needs of a customer and his place of residence.
However, such short-term health insurance plans do not cover some essential health benefits like in other insurance plans. These plans are usually a temporary choice for young adults who do not qualify for other plans or do not want to choose them for some reason.
