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In Uncertain Job Market, NextStudent Offers Short-Term Health Insurance for Job-Seeking Graduates
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PHOENIX, AZ -- (Marketwire) -- 10/15/08 -- As U.S. companies continue to cut jobs andscale back on business costs, recent graduates still struggling to landtheir first job out of college face one of the bleakest job markets inyears. And a growing number of these jobless graduates, having to gowithout employer-sponsored health insurance, are quickly joining the ranks ofAmerica's 50 million uninsured.
While they're in college, most undergraduates are covered either by theirparents' health plan or by school-sponsored health insurance, the cost ofwhich is usually added to their tuition and fees each semester. Oncethey've graduated, however, former students no longer have aschool-sponsored health plan to turn to, and many may no longer be eligiblefor coverage as a dependent under their parents' health insurance.
Although typical college graduates -- early twenty-somethings who feelyoung and healthy -- may think they have no real need for health insurance,any accident or medical emergency could wipe them out financially beforethey've even had a chance to earn their first paycheck. More than 50percent of personal bankruptcies in the United States are attributable toan illness or medical bills, according to a 2005 study conducted by HarvardUniversity.
Graduates who haven't yet found a job, or who have recently been hired butare still waiting for their employer-sponsored health insurance to takeeffect, can help protect themselves both financially and medically withNextStudent short-term health insurance. This customizable healthinsurance program offers a broad choice of individual health insuranceplans designed specifically to cover recent graduates and others in periodsof transition.
"In this economy and job market, especially, new grads are going to have ahard time getting employer-sponsored health insurance," said Jack Wallace,NextStudent Executive Vice President. "We want to make sure that thesegraduates have affordable access to the health coverage they need."
NextStudent short-term health insurance plans are affordable, flexible, andavailable without lengthy waiting periods -- coverage could begin as earlyas the next day. There are no network restrictions -- covered individualscan visit any doctors or hospitals they choose -- and NextStudentshort-term health plans can be customized to fit a range of personal needsand budgets.
Individuals can choose from 30-day to 12-month plans (the availablecoverage terms may vary by state); they can pick their own deductible,ranging from as low as $250 up to $5,000; and they can select theco-insurance coverage they want, with 50-, 80-, and 100-percentco-insurance rates available. NextStudent short-term health plans includeprescription drug coverage and offer coverage of up to $2 million perperson.
NextStudent, a longtime respected name in the student loan industry, isoffering its short-term health insurance plans, as well as student insurance, in conjunction with one of itstrusted partners, a Fortune 500 company and a member of the S&P 500 thathas been in business for over a century and holds an A.M. Best rating ofExcellent.
"Student health insurance and short-term health insurance make sense forour customers and for us," said Wallace. "We're a student- andfamily-oriented company. We're seeing parents paying high premiums to keeptheir college kids insured while they're in school, and then a lot ofgraduates leaving school uninsured. We want to offer students, graduates,and their families affordable options in health insurance, just like we didin student loans."
By adding short-term and student health insurance options to its productline of student loans and education finance services, Wallace said,NextStudent continues to pursue its company mission of providing affordablekey products that meet the needs of both current and former collegestudents, graduate students, and their families.
"Students and their parents have been trusting us for a long time to helpthem pay for college," Wallace said. "Now they have an opportunity to trustus to help keep them affordably insured."
About NextStudent
NextStudent, www.nextstudent.com, Federal Lender Code 834051, is dedicatedto helping students and their families find affordable ways to pay forstudent needs, for college, and for life after college. NextStudent offersone-on-one education finance counseling and a portfolio of highlycompetitive products and services, including a free online scholarshipsearch engine, student health insurance, short-term health insurance, andinformation on parent and student loans, private student loans, and studentloan consolidation programs.
Contact:Jack WallaceExecutive Vice President(480) 250-1992Email Contact
Although typical college graduates -- early twenty-somethings who feelyoung and healthy -- may think they have no real need for health insurance,any accident or medical emergency could wipe them out financially beforethey've even had a chance to earn their first paycheck. More than 50percent of personal bankruptcies in the United States are attributable toan illness or medical bills, according to a 2005 study conducted by HarvardUniversity.
Graduates who haven't yet found a job, or who have recently been hired butare still waiting for their employer-sponsored health insurance to takeeffect, can help protect themselves both financially and medically withNextStudent short-term health insurance. This customizable healthinsurance program offers a broad choice of individual health insuranceplans designed specifically to cover recent graduates and others in periodsof transition.
"In this economy and job market, especially, new grads are going to have ahard time getting employer-sponsored health insurance," said Jack Wallace,NextStudent Executive Vice President. "We want to make sure that thesegraduates have affordable access to the health coverage they need."
NextStudent short-term health insurance plans are affordable, flexible, andavailable without lengthy waiting periods -- coverage could begin as earlyas the next day. There are no network restrictions -- covered individualscan visit any doctors or hospitals they choose -- and NextStudentshort-term health plans can be customized to fit a range of personal needsand budgets.
Individuals can choose from 30-day to 12-month plans (the availablecoverage terms may vary by state); they can pick their own deductible,ranging from as low as $250 up to $5,000; and they can select theco-insurance coverage they want, with 50-, 80-, and 100-percentco-insurance rates available. NextStudent short-term health plans includeprescription drug coverage and offer coverage of up to $2 million perperson.
NextStudent, a longtime respected name in the student loan industry, isoffering its short-term health insurance plans, as well as student insurance, in conjunction with one of itstrusted partners, a Fortune 500 company and a member of the S&P 500 thathas been in business for over a century and holds an A.M. Best rating ofExcellent.
"Student health insurance and short-term health insurance make sense forour customers and for us," said Wallace. "We're a student- andfamily-oriented company. We're seeing parents paying high premiums to keeptheir college kids insured while they're in school, and then a lot ofgraduates leaving school uninsured. We want to offer students, graduates,and their families affordable options in health insurance, just like we didin student loans."
By adding short-term and student health insurance options to its productline of student loans and education finance services, Wallace said,NextStudent continues to pursue its company mission of providing affordablekey products that meet the needs of both current and former collegestudents, graduate students, and their families.
"Students and their parents have been trusting us for a long time to helpthem pay for college," Wallace said. "Now they have an opportunity to trustus to help keep them affordably insured."
About NextStudent
NextStudent, www.nextstudent.com, Federal Lender Code 834051, is dedicatedto helping students and their families find affordable ways to pay forstudent needs, for college, and for life after college. NextStudent offersone-on-one education finance counseling and a portfolio of highlycompetitive products and services, including a free online scholarshipsearch engine, student health insurance, short-term health insurance, andinformation on parent and student loans, private student loans, and studentloan consolidation programs.
Contact:Jack WallaceExecutive Vice President(480) 250-1992Email Contact
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