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June 09, 2007

Health Insurance Companies Easing Burden of High COBRA Costs

Senate Health Committee Chairman, Senator Kemp Hannon, announced a part of the recently adopted a new budget, which enables health insurance companies to carry individuals under their parent's policy to age 25, instead of age 19 for those who do not go to college and 23 for those who do.

The part of the bill, announced at a University Student Center during a June 1 press conference, will be a relief to many parents and young people facing extremely high COBRA costs when their child reaches the age of ineligibility under their plan, but is either still in school or searching for employment. The legislation also assists those young 20-somethings who are bearing the brunt of their own health insurance costs by enabling them to obtain health insurance coverage through their parents.

"We have to be realistic," Senator Hannon said. "With double and triple majors and five-year master's programs, many of our young people are not graduating college when they are 21 anymore. Burdening them and their families with COBRA costs is unfair."

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Posted by healthinsurance at June 9, 2007 09:09 PM

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