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Health Insurance 101: A Guide for New Graduates

06 junio 2025

Graduating college is an exciting milestone, but it also comes with new responsibilities—like choosing your own health insurance. For many young adults, this may be the first time navigating coverage without relying on parents or a university health plan. The process can feel overwhelming, but understanding a few key details will help you make an informed decision.

Understanding More Than the Monthly Premium

The premium (what you pay each month for coverage) is just the starting point. To get the full picture, pay attention to these important terms:

Copay: A fixed amount you pay for doctor visits or prescriptions.
Coinsurance: The percentage of costs you’re responsible for after meeting your deductible.
Deductible: The amount you pay out of pocket before insurance begins to cover costs.
Out-of-pocket maximum: The most you’ll pay in a year before insurance covers all remaining costs.

Also, check whether your preferred doctors and hospitals are in-network. Going out of network can lead to significantly higher costs (or no coverage at all) depending on your plan.

Consider a High-Deductible Health Plan (HDHP)

Many new graduates are young and healthy, making a high-deductible plan a smart financial choice. These plans often feature:

Lower monthly premiums, helping you save money upfront
Access to a Health Savings Account (HSA), which offers tax advantages and rolls over unused funds year to year

However, if you have a chronic condition (like diabetes) or think you’ll need frequent medical care, a low-deductible plan may be a better fit.

Support that goes Beyond Coverage

At Providence Health Plan, we know that managing your health – whether physical, emotional, or social – can be difficult to do alone. That’s why we offer Care Management services at no additional cost to our members.

Whether you’re adjusting to a new diagnosis or managing a chronic condition like asthma, diabetes, cancer, or mental health challenges, our Care Management team is here to help. This includes registered nurses, licensed behavioral health clinicians, clinical support coordinators, navigators, and healthcare advocates.

Your care management team is like a personal health GPS, helping you navigate the confusing paths of the healthcare system. Like a GPS, they can give you clear directions and look ahead to reroute you if there are obstacles, making sure you get to your destination as quickly and easily as possible.

Your personalized care team can help with everything from provider coordination and prior authorizations to nutrition guidance and connecting you with local resources like fitness classes or support groups. Specialized services are also available for high-risk maternity, pediatric care, eating disorders, and transgender health needs – with dedicated clinical experts who serve as a single point of contact to guide you through your care journey.

If you're in need of mental health or crisis support, our Behavioral Health Hub is available 24/7 to connect you with a team trained in crisis triage care, in real time.

Participation in Care Management is voluntary, and you can opt out at any time. It’s just one more way Providence Health Plan is here to support your health, holistically.

Don't Wait to Enroll

Putting off health insurance can leave you unprotected in case of an emergency and may result in penalties under the Affordable Care Act. Open enrollment periods are limited, so review your options early!