It is often the case that young people are not thinking much about medical insurance. In one’s teens, one is often covered by the insurance held by one’s parents or caregivers. In the twenties, as a college student or young worker, health insurance seems like an extra and unnecessary expense. More and more young people are going longer and longer without taking a serious look at the need for health insurance. This raises serious questions: How long should one wait before investigating insurance issues? When is it necessary to get an insurance policy? What kind of coverage does one need?
All in all, it is never a bad idea to have medical insurance. The earlier you buy into insurance, the lower your premiums will be. This is because younger people are generally considered to be more fit and healthy than more mature people are. Likewise, younger people benefit from buying into insurance at a time before they develop any chronic conditions. These “pre-existing” conditions can be extremely problematic for mature policyholders, as many insurance companies fight vigorously to avoid honoring any major insurance claims that arise from these conditions. From this perspective, then, the sooner you can get insurance, the better.
However, it is not always necessary to leap head first into the world of insurance. If you are particularly young, it’s quite likely that you are already covered under the medical insurance policy held by a parent or caregiver. If this is the case, your additional policy is unlikely to help you much in the event of a medical issue. Under recent healthcare reform laws, it may be possible for a responsible adult to maintain health insurance coverage for a child well into their twenties. However, even if you are already covered in your mid-twenties, it is definitely a good idea to start researching insurance.
It is definitely wise to get started in medical insurance before age thirty. Again, when you begin with your new insurance policy, you may be locking in a lower rate due to your age. To look at this from another perspective, it is not a good idea to go uninsured for any length of time. If you are entering into a situation where you are likely to lose coverage due to your age or changes with your family insurance policies, begin looking for a policy for yourself as quickly as possible. This will reduce the chance of a serious problem while you are not covered.