1. Credits complete? Check

2. Cap and gown? Check

3. Diploma? Check

4. Health insurance? Probably not.

Graduation season is also the time to check to be sure your college grad still has adequate health insurance coverage. Many college graduates are at risk because they are no longer covered under the university’s health insurance plan, they don’t have a job yet with benefits, and they may have aged out of their parents’ health insurance policy.

Even though new mandates require that insurance companies cover children until they reach the age of 26, the National Institute of Education Sciences expects a 20 percent increase of students over the age of 25 in the coming years.

This gap between college graduation and a full-time job with benefits can be risky. While many young adults in their twenties are relatively healthy, they may also enjoy a somewhat carefree lifestyle which makes them susceptible to accident and injury. There are no guarantees when it comes to health concerns. A reasonably healthy 26 year-old today may find themselves in the Emergency Room tomorrow.

In today’s economy, it is risky to wait until finding a full time job with benefits. Astounding numbers of college graduates find themselves unemployed or underemployed for much longer than they ever anticipated. About 284,000 Americans with college degrees were working minimum wage jobs last year, according to the Wall Street Journal.

In addition, there is no guarantee that an employer will offer health benefits. A survey by the Kaiser Family Foundation found that only 60 percent of employers offer health insurance benefits to their employees. Of those employers who do offer health benefits, they are often more expensive and less comprehensive than an individual health insurance policy.

Because of this, it may be worth the investment to purchase an individual health insurance policy after graduation. Young people with a healthy lifestyle and low risk history are often given preferred rates on health insurance. Individual health insurance gives individuals more flexibility to choose from a wide selection of plans, to find a customized and affordable alternative to employer-based care.

Another option may be to ask the university about extended health insurance benefits for graduates. Some university plans may allow students to extend their student benefits beyond graduation for a certain period of time. This may be a short-term solution to extend coverage while shopping for an individual policy. Some policies may have specific limits or requirements, so it’s important to ask the University for information prior to graduation.

The outlook for college graduates is looking better this year than recent years. A survey released in April from the National Association of Colleges and Employers (NACE) reported that businesses plan to hire more college graduates from the class of 2013 than they did from the class of 2012.

The numbers are slowly increasing, but that’s still good news for those walking through the processional this year. Because of the slowly growing job market, the uncertainty of employer-based health care programs, and the importance of comprehensive health coverage, it is crucial that college graduates shop around for an individual health plan that meets their needs.

The Medicare Annual Enrollment Period (AEP) comes around only once a year. This is the one chance a year that seniors can enroll or change their prescription drug coverage. The Annual Enrollment Period lasts about two months, but what happens if you miss it? Changing your Part C or D coverage outside of AEP is difficult, but it is not impossible.

1. Medicare Supplement (MediGap) Enrollment

MediGap plans may have a separate enrollment period in some states. These open enrollments allow you to update or change your MediGap health coverage without medical underwriting. This option may change from state to state, so, it is important to understand the individual rules in your state in order to make a change outside of AEP by contacting a licensed agent.

2. Special Needs Plans (SNPs)

A Special Needs Plans (SNPs) is one which is available for individuals who may be low-income, disabled and under the age of 65. If you qualify for a SNP you can enroll at any time, provided one is available in your area.

3. 5-Star Medicare Advantage Plans

As of 2012, you don’t have to wait for AEP to enroll in a 5-Star Medicare Advantage plan. Plans with the highest rating of 5 stars can enroll people at any time, even after AEP is over. Again, these plans are not available everywhere, so it’s important to check the opportunities in your area.

4. Medicare Annual Disenrollment Period (MADP)

Medicare’s ADP is designed to allow individuals to cancel your Medicare Advantage plan. At the same time, individuals who choose to cancel their plan have the opportunity to add drug coverage at the same time. However, this is not a decision to take lightly as a quick fix. Disenrolling in a Medicare Advantage plan gives up other benefits so do the homework to be sure you’ll still have the coverage you need.

5. Medicare Special Enrollment Periods (SEPs)

Medicare provides Special Enrollment Periods for those who need to change their coverage outside of AEP. In order to qualify for an SEP, you must meet one of several qualifications: A) move permanently outside of the plan’s service area; B) become eligible for a low-income subsidy due to a loss of income; 3) lose coverage through no action of your own; or C) lose dual eligibility status for those enrolled in Medicaid and Medicare simultaneously.

The Annual Enrollment Period is designed to make the process of changing prescription drug coverage easy, not more difficult. If you missed the Annual Enrollment Period, there is no reason to feel trapped in a plan that is not working for you.

It is important that the cost of drugs, coverage and benefits stay within your means. Many seniors who can’t afford their medications simply choose not to take them, this is a dangerous option. Instead there are opportunities to make changes, and get the coverage you need. Be proactive, and reach out to an expert who can help you figure out what those opportunities are, and how to take advantage of them.

Many young people and retirees choose condo living because of its easiness, inexpensive monthly price tag, and minimal upkeep. Condos are a unique investment and therefore require a unique form of home insurance. While most condos owners have a minimal amount of insurance through their condo association, but additional coverage may be needed to protect your personal belongings.

Condo Insurance vs. Homeowners Insurance

Condo owner insurance is also referred to as “Homeowners Form 6″ or “unit-owner” insurance. The major difference between condo owner insurance and homeowners insurance is that most condo policies do not cover the actual structure. It is up to the association to cover the condo units.

Owners are responsible to cover their own individual loss, and not the condo itself. There are several aspects of homeowner’s insurance which are also available in condo owner insurance policies such as:

Water back-up coverage: Insures your property for damage caused by the back-up of sewers or drains. Most coverage policies do not cover water damage if the water came from the ground. If you live in an area prone to sewer backup issues, this may be a worthwhile addition to your policy.

Flood or earthquake insurance coverage: As with homeowner’s insurance, most of the time floods and earthquakes are not included in the policy coverage. If you own a condo in an area prone to flooding or earthquakes, you may want to look into these additional options.

Additional Personal Property: there is generally a $1,000 to $2,000 limit for theft of jewelry on a standard policy. So, if you have jewelry, collectibles, or other expensive items, it might be worth it to get an additional personal property policy sometimes known as a rider.

Condo Owner Insurance vs. Condo Association Insurance

Condo Association Insurance is designed to cover the condo building itself, and the common areas you share with others in your building such as the roof, basement, elevator, boiler or walkways for both liability issues and physical damage.

Most often, this insurance is paid by the association or through monthly dues of association members. However, Condo Association Insurance doesn’t cover much else, and certainly does not cover the individual property lost by condo owners. That is where condo owner insurance steps in.

By insuring an individual condo owner against direct damage to personal property in addition to personal liability and medical payments coverage, it works very similarly to a homeowner’s policy. Depending on the policy, it may also provide additional living expenses if you are the victim of fire, theft or other loss listed in your policy.

Campaigns across the country are focused on eliminating texting while driving. Police Officers in every state try to enforce DUI laws and eliminate drinking and driving. But what about the biggest distraction of them all? Ask any mother.

Children are 12 times more distracting to the driver than talking on a cell phone, according to a new Australian study. According to their research, the average parent takes their eyes off the road for a staggering three minutes and 22 seconds during a 16-minute trip.

Between, “are we there yet?” “I want a snack!” “He’s touching me!” “She’s poking me!” and the ever fussy baby, parents are lucky to get from point A to point B. According to the AAA, babies are eight times more distracting to the driver than adult passengers.

One mother, who installed cameras in her car and allowed her actions to be monitored for the study showed several distractions although she claimed to be a safe driver. As she was driving 55 to 60 miles per hour on the highway and glanced away from the road to settle a squabble, pick up a candy wrapper, adjust the DVD player and keep an eye on the kids.

Research shows that a text message takes a drivers attention for anywhere between 9-12 seconds. Children can divert attention for three times that long.

Fathers and new mothers are supposed to be the worst offenders. Children distract the men more and for longer periods of time and new mothers are both sleep deprived and pre-occupied with their new bundle of joy. Almost 10 percent of new moms have an accident while driving with their baby. That’s nearly three times the rate in the general population.

There is no doubting that kids can be stressful both in and out of the car. There are a few solutions that parents can implement to keep everyone safer. First, set up car rules so your kids know what to expect. Explain to children that while mommy or daddy is driving, they cannot pickup dropped toys, or hand out snacks until the car stops. Provide a caddy or box in the backseat where kids can reach their own toys and snacks and have a place to throw their trash along the way.

Parents can help by organizing their day to run errands at the right time, or the time of the day when children and babies are happy and fed. When possible, ask a friend or neighbor to watch the baby so mom can get her errands done quickly and safely.

There is no excuse for driving while intoxicated. It is illegal, dangerous, and a felony in most states. Driving while intoxicated impairs your perception, your reaction times, and your judgment on the road. This activity is a recipe for disaster, and yet is still all too common. In addition to the risks associated with a DUI, it is an expensive choice.

The Cost of a DUI

For many Americans, driving makes it possible to go to work, school, the grocery store, bank, etc. While there may be some public transportation in major cities, for most of us there is no substitute for driving a vehicle. Getting a DUI can eliminate that possibility.

Estimates from the Secretary of State show that salvaging the right to operate a vehicle can be between $15,000 and $20,000 in most states. This may include attorney fees, court costs, etc. According to the Texas Department of Transportation, a DUI conviction in Texas can top $24,000.

In addition to paying thousands of dollars for the privilege to drive again, you can count on your auto insurance rates to skyrocket. This increase only adds to the financial cost of a DUI conviction. After a DUI, you will be categorized as a high-risk driver and may be required to purchase an SR22 policy. An SR22 status is a probationary period, usually three years before you are eligible for mainstream auto insurance coverage.

Even after you are off SR22 status, the DUI may still remain on your record for up to seven years, which will increase your auto insurance rates across the board. Add a fender bender, a speeding ticket, or an accident to your record and your rates may soar even higher. Some insurers may not even give you this option; they may simply cancel or not renew your policy.

DUI in Kentucky

Kentucky’s DUI law has an “Illegal Per Se” provision. This “Illegal Per Se” means it is illegal to drive with a blood or breath alcohol content of 0.08 or higher and prosecutors no longer have to prove defendants were impaired if so long as the that test is given within 2 hours of operation of motor vehicle.

This means that you don’t even have to be pulled over while driving, but if someone can prove you were driving within two hours of intoxication, you are at risk for a DUI offence. In the state of Kentucky, a first offense DUI is punishable by up to 30 days in Jail, a fine anywhere from $200 to $500 and a license suspension from 30-120 days.

You may also be required to complete community service or a rehab program, as designated by the court. A repeat offence in the next five years will find you with up to 6 months in jail, a 1 year rehab program, and a suspension of your driver’s license for over a year.

Once you sign up for Medicare, you don’t have to sign up each year, but you can make changes to your current plan. A prescription drug plan is one of the most important changes that you may make to your current Medicare plan. It is important to understand when you can sign up or change these plans so you can plan ahead and get the coverage you need.

When you decide how to get your Medicare coverage, you might choose a Medicare Advantage Plan (Part C) and/or Medicare prescription drug coverage (Part D). Each year there are specific time periods where you have a chance to review your coverage and change plans. These time periods are based on individual eligibility.

When you turn 65: You have the option to sign up for Part D Prescription Drug Plan when you are initially eligible for Medicare by turning 65. This eligibility period is a 7-month period that starts 3 months before the month you turn 65, includes the month of your birthday, and ends 3 months after the month you turn 65.

If you get Social Security or Railroad Retirement Board benefits: If you are eligible for disability benefits, you are also eligible for Medicare prescription drug coverage. You can sign up for coverage once you have been on Social Security or RRS benefits for two years.

General Enrollment Periods: Each year, there are two general enrollment periods when anyone who is enrolled in Medicare Part A or B can sign up for a Medicare Prescription Drug Plan. The first period begins in April and continues through June. The second open enrollment is in October and continues through the first week of December. This is the easiest time to plan for coverage and change your enrollment options.

During this time, you have the option to change from Original Medicare to a Medicare Advantage Plan, or vice versa. You can also switch Medicare Advantage Plans and join a Medicare Prescription Drug Plan or drop your Medicare prescription drug coverage completely.

It is important to have the coverage and the benefit plan that best fits your budgets and your needs. To sign up, add, change, or drop coverage, you need to talk with a qualified representative so you can be prepared for these important time periods each year.

Insurance fraud is on the rise, and it might impact you more than you think. Historically, in hard economic times, crime increases. Perhaps many people who are otherwise law-abiding citizens find themselves pinned between a rock and a hard place and must find a way to cheat the system in order to survive. People get desperate and try to file fraudulent insurance claims in order to find a source of income.

The insurance industry measures fraud by keeping track of “questionable claims.” A questionable claim is one where the insurance company, sends the claim to a separate nonprofit bureau for closer review based on their initial indicators which may show signs of fraud.

The number of questionable insurance claims in 2011 rose 9 percent over 2010 according to the National Insurance Crime Bureau. Fraud is committed by various parties for different reasons. Fraud can happen at any time from applications to claims.

The most common types of fraud include:

• “Padding,” or inflating, actual claims.

• Lying on an insurance application.

• Submitting claims for injuries or damages that never occurred

• Submitting claims for services never provided or equipment never delivered.

• “Staging” auto accidents.

There is an active fight against insurance fraud. To date, 42 states and the District of Columbia have set up anti-fraud agencies to try and detect, report, and convict those who commit insurance fraud. In recent years, these agencies have reported increases in all aspects of insurance fraud including referrals, cases, convictions and court-ordered restitution.

Health, workers’ compensation and auto insurance are the types of insurance most vulnerable to fraud. Workers comp fraud saw an 8 percent jump in 2011, and inflated medical billing saw an overwhelming 113 percent increase over the last year. The National Insurance Crime Bureau report also highlighted questionable claims regarding faked and exaggerated injuries and “excessive” treatment.

The Consumer Federation of America official, says the increase in questionable insurance claims is bad for consumers. Those committing fraud are not the ones paying the price; it’s the rest of us who see our premiums go up. “Insurance fraud adds to the costs people pay for insurance,” bureau spokesman Frank Scafidi says. “It is believed that roughly $30 billion in insurance fraud occurs each year, just in the property and casualty lines. That doesn’t include health and life insurance fraud. At some point, that $30 billion gets underwritten by insurance consumers all across America through higher premiums and fees.”

This is one of the unfortunate reasons insurance premiums go up each year. However, it is important to note that most insurance claims are legitimate. Research shows that fraudulent claims account for just 1 percent of all insurance claims. This means that the majority of citizens are not trying to cheat the system, but doesn’t change the fact that everyone must pay for the mistakes of a few.

The Medicare Advantage Disenrollment Period is commonly referred to as MADP. This is the time when those who are enrolled in the Medicare Advantage plan have the option to switch back to original Medicare. This period (MADP) is only six weeks long. It typically begins at the beginning of the year and runs through Valentine’s Day.

Switching from Medicare Advantage

This time period (MADP) is designed specifically for those who want to switch from Medicare Advantage to original Medicare. It is not designed for any other changes to your policy.

In order to disenroll during MADP, you must make a request. All requests are processed the first of the following month. Which means, if you want to disenroll on January 1, you must make a request by December 1. If you make a request in January, you will still have time to disenroll on February 1.

It’s important to note that this time is not an additional enrollment period, which means that you cannot enroll in Medicare Advantage or switch between Medicare Advantage options. However, if you are planning to disenroll from Medicare Advantage, you may use this opportunity to enroll in a Medicare Supplement policy upon returning to Original Medicare. Any other changes to your Medicare plans must wait until the next valid Part D election period

Making Changes to Prescription Plans

Although this is not an additional enrollment period, you can make the necessary changes to your prescription plan if you choose to disenroll.

Those are enrolled in Medicare Advantage Prescription Drug plan or MA-PD may disenroll from MA-PD at this time as well. This gives you the opportunity to enroll in a standalone Prescription Drug Plan (PDP). However, those members with MA-PD plan who choose to enroll in a standalone Prescription Drug Plan during this time will l not have the option of enrolling in another Medicare Advantage Plan.

All changes to your prescription plan must be complete by February 14th, so it’s important to talk to your representative so you don’t find yourself without coverage. If you currently have a standalone prescription drug plan, you cannot make changes to your plan during this time. Those changes can be made during the next valid election period, or during open enrollment.

Todd was a healthy, twenty-seven year old single male who had just started his own engineering business. He figured he wouldn’t need health insurance until he got older or got married. Then he had an accident while hang-gliding with his buddies. The resulting major injuries hospitalized him for weeks and put his business and his livelihood in danger.

We never plan on getting sick, but our personal health and the health of our family is often beyond our control. A severe infection, a car accident, a broken arm during a basketball game, a kidney stone—so many medical conditions occur without warning. Who needs health insurance? Everyone.

The number of uninsured Americans in 2010 rose to 49.9 million, over 16 percent of the total population. Over twenty-eight percent of Americans age 25-34 are without insurance and 7.3 million children have no health insurance. Surprisingly, AARP.org reports that 78 percent of the uninsured are actually employed. And in 2006, almost 90 million American citizens went without insurance for sometime during that year. That’s nearly one-third of the entire population.

The Cost of Being Uninsured

If you happen to be insured, and feel the pain of paying for your deductible or premiums, consider the cost of being uninsured. On a good year, you might not get sick or need much medical care and you might only have to pay less than $100 for a prescription anti-biotic. But suddenly, something happens and your costs sky-rocket.

HealthAffairs.org estimates that Americans who are without health insurance coverage pay $30 billion in medical costs each year and high medical bills are the second leading cause of personal bankruptcy. Just consider some of these unexpected medical costs and ask yourself, “Could I cover these medical emergencies?”

• A three-day hospital stay — $27,995

• A ruptured appendix — $48,150

• Knee surgery and care — $48,300

• An average ambulance ride — $2,567

Even if you are able to avoid major accidents, experts say that uninsured people usually postpone medical care as long as possible. These means that many conditions go undiagnosed and life-saving treatments are not received as Americans go without adequate healthcare. It is estimated that nearly 18,000 people in the United States die each year simply because they do not have health coverage.

Uninsured adults are four times more likely to delay or forgo preventative screenings such as mammograms or colonoscopies. The result is that these uninsured adults are much more likely to be diagnosed with a disease in an advanced stage where available life-saving treatments are no longer effective.

Most Americans who are employed but uninsured are in that situation because their employers don’t offer benefits and they make too much money to be covered by current public health programs. So, they take the gamble that they will just pay for whatever healthcare they need. However, being uninsured can also mean that care is denied. More than forty-one percent of adults reported that a doctor’s office or clinic from which they sought primary care, would not accept them as a new patient because they didn’t have any source of insurance.

Find Affordable Health Insurance Coverage

Although health insurance premiums are an additional cost to personal budgets, they far outweigh the devastating effects of medical costs to the uninsured, and there are ways to save. Do your research and shop around to find a policy from a reputable insurer that gives you adequate coverage for a good price. Keep your deductible high so that your premiums will be lower. Choose a plan that reduces out-of-pocket expenses.

Carrying an adequate health insurance policy is really the best way to handle the rising cost of medical care. Choosing from a myriad of plans, options and policies will allow you to find the right coverage and the right price for you and your family and protect you from sudden serious financial losses due to uninsured medical costs.

It is happening to millions of Americans—you suddenly find yourself without health insurance perhaps because you have lost your job, changed employment, lost benefits at your current job or are self-employed. Navigating the insurance world to find what options are available, what companies can provide for you and what plans best suit your needs can be overwhelming. Here, the adage of comparing apples to apples really applies. Make sure you are comparing equal factors when shopping for health insurance.

Types of Health Insurance Coverage Available

There are basically four types of health insurance coverage options to consider:

1. Fee-for-Service (FFS). This type of insurance allows you to choose which doctors you want to visit. If you need a specialist, you can choose one at your own discretion. The premiums for this type of insurance are generally higher compared to other types of plans but can be controlled by opting for a higher deductible.

2. Preferred Provider Organizations (PPO): Just over one-third of all health insurance plans are PPOs. PPO plans do not offer the same flexibility as Fee-for-Service plans. You choose a healthcare provider from a list of approved providers or you may opt to pay out-of-pocket to see out-of-network providers. PPOs tend to have larger networks making it easier to choose from those approved. The premiums for PPO are generally lower than Fee-for-Service plans which means you will pay more out of pocket than some of the other plans such as HMOs.

3. Point-of-Service (POS): Point-of-Service networks are a compromise option of the PPO and HMO. They require you to see an approved provider physician as your first point of service for your healthcare needs and then, if your physician deems it necessary for you to seek the services of a specialist, you will be referred to an approved specialist from the network or you can opt to see a provider out of network and pay for the costs out-of-pocket. POS plans often have low co-payments and deductibles.

4. Health Maintenance Organizations (HMO): HMOs are highly restrictive, with very little flexibility in physicians, facilities or treatment plans. You will pay less out-of-pocket and have less paperwork but you also have less freedom to see healthcare providers of your choice, including specialists and fewer options for care facilities. Deductibles are generally lowest in an HMO.

Some Things to Consider

As you begin to research and compare the health insurance options available to you, you will want to consider and compare some of the following points:

• Compare Ratings: Don’t just compare the specific features of the health plans, but compare the ratings of the insurance companies that you are considering. Check with http://www.standardandpoors.com/ to review ratings on insurance companies or www.ambest.com for insurance company ratings. Choose from the strongest insurance companies who can offer the least expensive and most comprehensive plans.

• Major Coverage: Make sure that you read the policies carefully and watch for major exclusions or exemptions. Some companies have eliminated prescription drug coverage or severely limited major medical coverage, for example. Companies who tout that they accept everyone, regardless of the health conditions usually have highly limited payouts.

• COBRA: If you have recently lost your job or are changing companies, COBRA coverage (Consolidated Omnibus Budget Reconciliation Act) is available. By law, your former employer must allow you to remain on the group insurance policy for up to 36 months. COBRA premiums are paid exclusively by the insured and there is no employer contribution, but it is a helpful option to cover you between jobs.

• Guaranteed Renewal: Certainly avoid policies that are not guaranteed renewable. You do not want to get health insurance coverage only to have it cancelled later. An automatic renewal is the optimum situation.

As you search for health insurance, be sure that you are comparing your apples to apples, oranges to oranges, or in this case, always evaluate the price you pay for services, the coverage you receive and the quality of services you can expect.