Many December Graduates Gain Diploma, Lose Health Insurance
MILWAUKEE, Nov. 1 /PRNewswire/ -- Many college graduates will find
themselves without health insurance upon graduation in December, either
because of the termination of school-sponsored coverage or because they are no
longer an eligible dependent on their parents' plan.
But there is a sensible solution for graduates: short-term medical
insurance.
"The loss of health insurance may go unnoticed as graduates focus on
landing a job," comments Kathy Clark, market development director for
specialty products at Fortis Health, the nation's leading provider of
short-term medical insurance. "But with many graduates leaving college
already burdened with substantial bills from school loans and credit cards,
maintaining health insurance coverage is essential to avoid further financial
risks."
Fortis Health cautions this group to explore their options, as the
financial risks are not worth taking. For example, out-of-pocket medical
costs for a broken ankle can range up to $15,000 for someone who is uninsured,
far exceeding the premium of a Fortis Health Short Term Medical policy.
"For college graduates, the flexibility of Short Term Medical is
invaluable," adds Clark. "Fortis Health enables individuals to customize the
plan to meet their budget. They can choose between one and six months of
coverage (with the option to apply for an additional six-month term of
coverage), apply using several different methods, including the Internet, and
choose from a range of deductible options."
For example, a 23-year-old healthy male from Georgia can pay as little as
$79.20 for a 60-day coverage period. A 22-year-old healthy female from
Arizona can pay just $62.40 for a 60-day term. Coverage may begin as soon as
the next day.
Often, students rely on newly acquired jobs to fill the void, but
according to a survey by the National Association of Colleges and Employers,
employers will hire 20-percent fewer new college graduates in 2001-2002 than
in 2000-2001.
Short Term Medical coverage is designed for generally healthy individuals
in a variety of situations. It's designed to cover a gap in health insurance
coverage that might range from one to six months. Typical situations include:
-- College graduates whose school-sponsored plan expires
-- College students who lose parent plan coverage upon graduation
-- New employees stuck in a health insurance "waiting period"
-- Workers who have been laid off or are between jobs
-- Independent workers
-- Temporary or seasonal employees
-- Early retirees with a short wait for Medicare coverage
Applying for coverage is simple at Fortis Health's short-term insurance
web site, http://www.temporaryinsurance.com , which provides more detailed
information on plan benefits. In addition, plans may be purchased by calling
1-800-989-2345 or by contacting an independent insurance agent.
SOURCE Fortis Health
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Related links:
http://www.fortishealth.com
CONTACT:
Michelle Love-Johnson for Fortis Health,
+1-262-523-3740, michelle@seroka.com
NOTE TO EDITORS: Interviews with Kathy Clark, market development
director at Fortis Health, available upon request. About Fortis
Health Fortis Health is committed to helping Americans meet their
health insurance needs. In business since 1892, the company is a
leader in the Individual Medical, Small Group, Short-Term and
Student Health insurance markets. Fortis Health provides
coverage for more than one million people nationwide. Its
products are underwritten and issued by Fortis Insurance Company,
John Alden Life Insurance Company and Fortis Benefits Insurance
Company. Fortis Health is headquartered in Milwaukee, Wis., and
has operations offices in Minnesota, Florida, Idaho and Ohio.
Fortis Health is part of Fortis, Inc., a financial services
company that, through its operating companies and affiliates, has
built leadership positions in a number of specialty insurance
market segments. Fortis, Inc. is part of Fortis, a financial
services provider active in the fields of insurance,
ïö«@ïj˜8;á A
banking and investment. As of second quarter, 2001, Fortis had
total assets in excess of $400 billion. Fortis ranks 31st based
on assets and 73rd based on revenues on the Fortune 'Global 500'
and 42nd based on revenues on the Forbes 'International 500' list
(July 23, 2001). Members of the media interested in more
information may contact Michelle Love-Johnson at 262-523-3740 or
michelle@seroka.com . Fortis Health can be found on the Internet
at http://www.fortishealth.com
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