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Insurance Explained: What To Do About Insurance In Your 20s.

How long is too long to stay on your parents' insurance plan? What if you need insurance but your parents don't have any? Do you actually really need insurance coverage in your 20's? Should you purchase a school sponsored plan? We're answering these questions in this week's Insurance Explained, read on for what you should know about insurance in your 20s...

The Basics:

Most people under the age of 26 can stay on their parents' insurance plan due to healthcare legislation. However, some individuals still find themselves needing their own policies in their 20s. If your parents don't have insurance, you've married, you're thinking about starting a family soon, or you've just become independent here's where to start.


1. You DO need insurance.

Being uninsured is one of the riskiest things you can do. Should anything happen, you're much worse off paying the full amount of doctors and hospital visits than you are making a monthly insurance payment. While it may make your monthly costs higher when you're just starting out in life, it's worth it.


2. Make your dollar efficient based on your needs.

If you are young and healthy with no preexisting conditions, you may want to consider cheaper options that cover your healthcare basics. You won't need to pay now for coverage of services that you don't need at this age, but you do want to make sure you're covered for all of the major things like checkups, limited urgent care visits, and general medicine . (Click here to fill out our new client form to get a free quote!). You can supplement your health insurance with a hospital plan (read more here) that makes specific healthcare, like pregnancy, more affordable.

3. Consider your in network doctors.

If you're going away to school in your 20s, or know that you want to find a job in a different city in a few years, you don't want a plan that limits your doctors in network to an inconvenient few. (Doctors in network are healthcare providers that your plan will cover.) Consider where you'll be receiving healthcare. Do you plan on visiting a student health center on campus, urgent care facilities, and/or clinics near campus? Make sure whatever provider and plan you choose covers the practices you'll actually visit.


4. Research college sponsored health insurance before purchasing.

Many colleges offer university sponsored health insurance plans for students. These plans will typically cover any services offered at on-campus clinics and health centers, so if you're an undergrad or grad student and frequently visit the campus clinic, it may be something to look into. But questions to ask yourself include whether or not the plan keeps you covered during the summer or on breaks when school isn't in session, whether or not you'll need additional healthcare the school can't provide, and if the price of coverage is comparable to other unaffiliated providers.


Every person's insurance needs are different depending on their situation. As someone first considering insurance coverage, it can be confusing to research and navigate through everything. At Murdock Insurance Group our mission is to personally help every client find their ideal plan. Visit our website and make your first free appointment to discuss your best options today!

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