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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

Content is the opinion of the author and does not represent the position of any other person or entity. Information is from sources believed to be reliable but cannot be guaranteed.

The author is paid for product endorsements and has an ownership or other financial interest in the businesses related to the topics covered.

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Long term health insurance

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: I am interested in reasonable long term health insurance for my daughter who will be 23 years old this week.

A: "Long term" for a 23 year old may have a different meaning than for a more mature adult. According to health insurance industry statistics, less than 1 in 1000 people under age 25 who purchase health insurance still have the same policy 25 months later. A short term policy is appropriate in most cases. The vast majority of young people eventually obtain coverage under a group policy or switch to another policy after about a year. In that case, it does not make sense to restrict health insurance choices to the long term renewable plans. Short term insurance plans offer better coverage at a lower price. Remember that short term coverage is priced at a fraction of the cost of renewable medical insurance plan and can usually be extended with subsequent policies for as long as the coverage is needed. See the details of the plans available in your state at Of course this lists both long term and short term health insurance if you feel that the limitations of short term medical insurance are not appropriate.


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