Coverage and Cousins

Young adults from the United States and Europe exemplified the differences between those who depend on their jobs for coverage and those who don’t. The cousins—ages 25 to 35—were excited about their personal and professional lives. They also juggled their finances to enjoy travel and buy houses.

The Americans were covered through employer-sponsored health insurance. Employers designed their health plans, so they had different insurers, options, benefits, and costs. Here are some of their issues:

How much does it cost? Too much, and the problem wasn’t limited to their employee contribution. The young adults struggled with the out-of-pocket costs when they needed expected (pregnancy) or unexpected medical care, such as a torn ligament or back injury.

Which benefits does it cover? While employers provided relatively broad coverage, the young women—and men—envied those whose health plans covered fertility benefits. They knew about fertility services and the costs associated with them.   

What happens when they switch jobs? Most had changed jobs and experienced new insurance carriers with different provider networks. For those with an established provider (endocrinologist, gynecologist), they often had to pay more to maintain the relationship or had to change doctors.

When did the coverage begin? One young adult learned the hard way when coverage for a new job didn’t start until the first of the month following her hire date. Fortunately, COBRA filled the gap between jobs even if it was expensive and complicated.

What else? A recently married couple had the option of “individual” and “employee plus one” coverage with their respective employer health plans. They chose one spouse’s plan as a married couple because the cost was worth the coverage it provided, especially as they start a family.  

The Europeans had coverage regardless of their jobs. None thought about it, even if their universal coverage systems weren’t perfect. For example, across the pond, the English have problems with delays in care. But they didn’t worry about changing plans or doctors when they changed jobs, nor did they complain about their costs.

These young adults were excited about their futures. Health insurance affected the Americans and Europeans differently as they began their careers. Fortunately, they were all Mastering Health Insurance.

Photo: Claiborne Pell (Newport) Bridge and the Atlantic Ocean (the pond)