Under most employee benefits plans, dependent children that are full time students can stay on their parents' benefits plans until age 25. When they graduate or turn 26 they must find their own coverage.
For students continuing studies past age 25, most universities and colleges have voluntary benefits plans that are often cost effective and offer good protection for health and dental claims.
For new grads, the ideal situation is to land a job with great employee benefits. But, if you are entering self-employment, an unpaid internship, or take a position without group benefits, an individual health plan is the next best thing.
Even better, if you enroll in an individual plan within 60 days of losing your old coverage, you won't have to disclose any medical information in order to be approved! This is a real perk when you have an existing condition, prescription or treatment plan. Plans are modular and can range from basic to very comprehensive, so there is always a solution that will be budget-approved.
If you have any questions, please feel free to email info@truebenefits.ca or call 604.872.2866.
Rachel von Sturmer, GBA, CFP
Comments