Young adults may think that they don't need a health insurance plan because they're healthy; however, it can be just as important for young adults to have a health plan as any other group. This is because the out-of-pocket costs of healthcare and prescription drugs can be particularly expensive to young adults, making it important that they find a suitable and affordable health insurance plan just to be safe. There are a variety of health insurance companies in Canada offering affordable coverage for young adults, but the healthcare.gov marketplace is one place to start your search if you're a young adult. It's important to find an insurance company that offers a good amount of coinsurance to help limit your out-of-pocket costs, which may have a high or low deductible. If you think that you'll have a lot of healthcare expenses, you may want a lower deductible so that you reach your threshold for copay amounts sooner. That being said, sometimes a health insurance company with a higher deductible ultimately offers better coinsurance. If you have the money to pay for the out-of-pocket costs up to your deductible, it may be worth choosing a health insurance provider with a higher deductible if it means a lower monthly premium.

Best Health Insurance for College Students

College students can also benefit from having the kind of preventive care that comes with having great health insurance. While college students can also search the healthcare.gov marketplace to shop for a PPO, HMO, or EPO, it may also be worth seeing if your school has an open enrolment period for students. They may offer a much more affordable option which can be the best health insurance plan for many students who don't want an expensive monthly premium on top of tuition fees. When looking at each plan type, make sure that you understand the major differences between each option. For example, a PPO plan allows you to choose any doctor in a network, including specialists, whereas an HMO requires you to have your primary care provider refer you to each specialist. When it comes to convenience and flexibility, a PPO is much more conducive for most people; however, an HMO can be a much less expensive option if you don't mind needing to get a referral each time you need to see a doctor. That being said, as a college student, you may have limited options for doctors anyway and only need insurance to cover the cost of prescriptions, in which case referrals are less of a hassle.