How to Choose Health Insurance for Young Adults

When it comes to health insurance for young adults, it's important to strike the right balance between coverage and affordability. Since young adults tend to be healthy, they may not need the same type of health insurance as older adults. However, young adults still need insurance coverage for things like accidents and routine preventive care. Also, health insurance for young people should not be considered a luxury. According to the Department of Health and Human Services, almost half of young adults without health insurance have trouble covering their medical bills.

Instructions

• 1

  Choose a health insurance plan with a high deductible and a low premium for young adults who rarely visit a doctor. These high-deductible health plans (HDHPs) offer adequate coverage in case of a catastrophe like a serious accident or a diagnosis of a chronic health condition. According to the Department of Health and Human Services, one in six young adults has or will have a chronic condition such as a cancer or diabetes diagnosis for which health insurance will be necessary.

• 2

  Choose an individual health insurance plan for young adults who need to visit the doctor regularly or who have only minor health conditions. These plans work just like the traditional plans sponsored through an employer, except they are less expensive. In an employer-sponsored group plan, all workers must be accepted no matter what type of serious and costly health conditions they have. Individual plans allow the same coverage at a lower price because your premium is only based on your personal risk. For a young adult who only needs to see a doctor regularly for minor things like allergy shots, acne/eczema treatment or annual exams, individual plans are the best option.

• 3

  If possible, sign up to be added to your parents' group or employer-sponsored health insurance plan if you're age 26 or younger. The Affordable Care Act allows for young adults to remain on their parents' plan until this age without a large cost increase. According to the Department of Health and Human Services, the average family will see less than a 1% increase in premium costs by adding their adult children to their health insurance plan.