Lack of Health Insurance Awareness May Bring College Graduates Home

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According a survey by eHealthInsurance, college students unable to find work after graduation would rather give up their own apartment (31%) or their own car (19%) before they would abandon their cell phones (13%) or internet access (12%) in order to save money. The Survey also found sixty-two percent (62%) would rather live at home after graduation than go without health insurance.

Journalist SuChin Pak reports that parents may be shouldering more of the financial burden this year as their children graduating from college enter a challenging job market, according to a survey released by eHealthInsurance (http://www.ehealthinsurance.com). For a complete summary of survey data and methodology, go to: http://www.ehealthinsurance.com/collegesurvey

Employers anticipate hiring 22 percent fewer new college graduates from the class of 2009 than they hired from the class of 2008, according to the National Association of Colleges and Employers.

While most students reported a willingness to sacrifice their independence in order to be able to afford health insurance, less than fifty percent (50%) could confidently define deductibles (41%), premiums (29%), annual out of pocket maximums (23%), lifetime coverage limits (23%) or co-insurance (15%). The majority (58%) had no idea how much an average individual health insurance plan would cost.

Key findings of the survey include:
Which of the following would you be willing to give up if you had to cut back on your spending after graduating college?

  • Magazine Subscriptions - 72%
  • Eating Out - 69%
  • Gym Membership - 63%
  • Video Game System - 59%
  • Cable TV - 48%
  • Credit Cards - 48%
  • Having My Own Apartment - 31%
  • Having My Own Car - 19%
  • Health Insurance - 16%
  • My Own Cell Phone, Smartphone, Or PDA - 13%
  • Internet Access - 12%
  • None Of These - 3%

About eHealth, Inc.:
eHealth, Inc. (NASDAQ: EHTH) is the parent company of eHealthInsurance, the nation's leading online source of health insurance for individuals, families and small businesses. Through the company's website, http://www.ehealthinsurance.com, consumers can get quotes from leading health insurance carriers, compare plans side by side, and apply for and purchase health insurance. eHealthInsurance offers thousands of health plans underwritten by more than 180 of the nation's health insurance companies. eHealthInsurance is licensed to sell health insurance in all 50 states and the District of Columbia. eHealthInsurance and eHealth are registered trademarks of eHealthInsurance Services, Inc.

Sources:
(1) Kelton Research's College Students Survey sponsored by eHealthInsurance.com: http://www.ehealthinsurance.com/collegesurvey
(2) National Association of Colleges and Employers' (NACE) Job Outlook 2009 Spring Update (http://www.naceweb.org/spotlight/2009/e030409a.htm)

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Nate Purpura
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