I’m not sure if this is the correct forum or not, but my son, who is graduating college imminently will need health insurance. I can COBRA him with my existing family policy, but am really looking for some cheap catastrophic type insurance, with maybe like a 1000 deductible. Where should I look for such an instrument?
There’s alot of options around now. COBRA is nice but EXPENSIVE.
Look to see if any of your local big insurers have a single policy plan. When I quit my dad’s COBRA I used SuperMedOne from Medical Mutual of Ohio. This is available in Ohio and Indiana.
I also had the option of getting insurance through my family’s home/auto insurer, State Farm.
Any insurance you choose will be frustrating to figure out, and might be expensive because of the non-group rate they charge. I was glad to find SuperMedOne but more glad now that I am finally getting a real group policy through work. Much better coverage.
Good luck!
COBRA restricts plan administrators to a very small markup (I believe 2%) on the premium. If the existing plan is expensive, then a COBRA extension will be expensive, but not because it’s issued under COBRA.
Finding high-deductible catastrophic medical insurance for a healthy young adult should actually be fairly straightforward. Note that some states (e.g., NY, NJ) have guaranteed-issue laws, meaning you could well encounter limited options and high premiums.
A good place to start, if you don’t want to talk to a broker, is your state’s insurance commission. A list of links is here.
The carrier with which you are now insured probably offers individual plans. They might have one with a high deductible.