For 20-Somethings, a Confusing Rite of Passage: Finding Health Insurance
Georgia Lee Hussey, chief executive of Modernist Financial, a planning firm in Portland, Ore. that helps clients make financial decisions in line with their progressive values, noted that some youth who work as independent contractors or interns are they may qualify for Medicaid. He said it’s important for young adults to aim for financial independence, if possible.
“If you have the means, get your health care coverage,” Ms Hussey said.
talking to your family
Conversations about financial decisions such as health insurance can create tension between parents and grandparents and their children, sometimes due to generational differences. Ms Hussey said the focus should be on creating understanding and empathy for people when sensitive issues arise.
“We don’t talk about financial realities and changing expectations for young people as often as we would like,” Ms Hussey said. “There is a place for compassion between generations and for understanding between generations.”
And it helps to remember that everyone has unique health needs when it comes to making the right decisions about insurance.
“There really is no one size fits all, especially when it comes to something sensitive like health care,” said Noah Damsky, co-founder of Marina Wealth Advisors in Los Angeles.
However, a good place to start is to educate yourself on health insurance terminology. Alexis Plick, who was only recently covered by her employer’s plan after being insured under two plans at once, said navigating insurance for the first time was a challenge — and it took a step into adulthood. felt like
“I’m actually paying for my stuff now,” she said. “It’s kind of madness.”
Ms. Plick, who lives in Jacksonville, Fla., said she relied on her parents to teach her about terms like deductibles and co-pay (a co-pay is the fee you pay for a doctor’s visit or insurance pay for the post-process). “A lot of it depends on how much you’re willing to pay per month and what’s included in your plan and what your employer will give you, so it’s not something you can just google and do it yourself.” can understand,” she said.