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Graduates Expectations

July 1, 2009

Despite the weary job market graduates are hopeful they’ll find a job soon after graduation.

In fact a survey by eHealth Insurance found 89% of graduates expect to find a career related to their major. The survey revealed even further: 82% of grads believe they’ll have a job related to their major within 6 months of graduation. 

An optimistic outlook when the National Association of Colleges and Employers 2009 Spring Update found employers plan to hire 22% less college grads this year. In fact:

“Since June 2007, the number of job openings has shrunk by 47 percent, with 2.3 million fewer positions available.”    – Fewer job openings fuel unemployment 

Despite unforgiving odds, grads expectations of employers remain solid. They are primarily looking for health insurance and secondly flexibility. A majority of graduates, actually 63% of graduates, prefer to buy and keep their own individual health insurance regardless of their employers. 

It seems our recent grad understand the importance of health benefits. Graduates optimism for the job market won’t cover the bills from a broken foot. They know how important it is to be insured, employed or not. This is a comfort for parents whengraduates’ high expectations in the job market may not be so secure.


Graduate optimism at a high

July 1, 2009

With the economy so bad, it is not uncommon to come across low expectations. Jobs are literally disappearing before anyone can even be hired to fill the spot. Recent graduates are facing one of the most competitive job markets in the history of our nation.

Graduates are no longer just competing against fellow grads but millions of unemployed Americans. With all this taken into consideration, you would believe that Grads wouldn’t be optimistic going into the market. But, you would be wrong!

A survey conducted by ehealthinsurance, showed that 89% of college students believed they would have a job within 6 months of graduation. Similarly, 85% believe that their job will offer health insurance coverage.

The stats on reasons for turning down a job offer were interesting:

  • Health insurance: 29%
  • A flexible schedule (Non-traditional hours, being able to work from home): 16%
  • 401(k) or other retirement accounts: 15%
  • Commute or office location: 13%
  • Vacation Time: 12%
  • Gym Memberships: 6%
  • Corporate Culture: 5%
  • Your Potential Title: 4%
  • Interesting enough, a majority of graduates prefer health insurance that is portable from job to job.   The only problem is, most grads don’t know what they are doing when they are shopping for insurance.  It is easy to be set up with the wrong coverage if you do not do your homework.  In the event of a accident, the wrong coverage could even mean no coverage! will do the homework for you.  They will give you a breakdown of what policy options you have from their A rated health insurance providers.   Once you have narrowed it down, they will go over the pros and cons of each plan so you can finally purchase the correct policy!


    Parents Savings On the Decline

    July 1, 2009

    For the first time in three years, parents are putting their children’s education ahead of their retirement according to a survey by Country Financial.

    It is fantastic parents have prioritized education over other expenses, but doesn’t necessarily mean they can pay for all of it. A survey conducted by the Financial Research Corporation and released by the College Savings Foundation found a 21% drop in college savings plans over the last year.  

    It’s obvious our trying economy is putting a strain on the bank account, especially for parents. Going to college during a recession is without a doubt difficult and stressful.

    “Assuming costs increase 5% a year, the projected cost of college in 15 years will be more than $100,000 for a four-year public college and more than $200,000 for four years at a private college.” – Me First: Fewer Parents Saving for Kids’ College Education by Aaron Crowe

    This hefty amount is something all students and parents must be aware of. From a students’ part time job, parents’ contributions, scholarships, and student loans college is a realistic possibility.

    Attending college is for many people the most important event of their lives. An education many times determines where you’ll end up in life; from your career, to friends and co-workers, even where you live.  Although many students are passing up dream colleges for less expensive universities, grads have realized the value of a higher education has no price tag. College is expensive and debt is a guaranteed outcome for most all graduates.  Parents are pinching their pennies tighter than ever to get their kids through.  

    So to all you grads, your parents may not be able to afford that new car or that summer trip to Mexico you wanted, but they’re doing their best. Be thankful and give your parents a shout out, they will appreciate a simple “thanks” more than you know.


    Emergency plan? You need one!

    July 1, 2009

    It’s three in the morning and your son rushes in with a gash in his hand.   Johnny is bleeding so you rush him to the closest emergency room possible.    You sit in the waiting room for quite some time and then finally get in to see the doctor.   He sits with your son for about 15 to 20 minutes and your at home an hour and a half later.

    Shortly after the incident you receive a bill for over a 1,000 dollars!  According to the Chicago Tribune, this is common for people all over the nation.  Most people have not looked to get information on hospitals around their area.

    Whether you are insured or young and uninsuredyou need to call around and find out rates for care.  In the event of an emergency you are not going to have time to call around!

    Don’t put this off and end up paying the price.  A quick 15 minutes could save you thousands!


    Get Protected This Summer With Travelers Insurance!

    June 24, 2009

    Summer is the time to relax, travel, and take adventures. These seasonal changes and traveling can pose risks that can be extremely expensive if you don’t have adequate insurance coverage. Even if you are sitting home in your apartment all summer, you can be faced by dangerous seasonal changes such as hurricanes and flooding that can cause serious damage.

    When traveling all over the globe, you must be aware what your health insurance covers, and if it extends to care outside of the country. If there are any gaps that need to be filled, consider buying travelers insurance. There are many plans available for travelers insurance, and it only costs a small percentage of your total travel expenses. If you do not have travelers insurance coverage and you need medical attention during your travel, you will have to pay out-of-pocket and could even possibly be denied treatment.

    Summer vacation is a time to enjoy and have fun, so take the proper precautions and safety measures!


    Graduates Moving Back Home

    June 24, 2009

    With the current economic situation and job market, it is extremely difficult for graduates to start up their career immediately.  At this point, most parents are helping their children with personal finances until they find a job. 

    Parents have different expectations regarding how they want to support their child financially.   Some families decide that their kids need to pay rent, buy their own groceries, and support themselves completely.  However, other parents decide that they will help their child, and pay for all their expenses. 

    One other expense, graduates tend to disregard is their need for health insurance.  Most student health insurance plans end the day of graduation.  Health insurance is necessary, and it is important to find a plan that fits your wallet.

    Whether you are paying for your health insurance or your parents are, you need to find an affordable policy that offers the right-fit coverage.


    What should you do about health insurance?

    June 24, 2009

    What should you do about health insurance?
    That is a question that is troubling thousands of Grads everyday.

    It is important to do your research but you must also understand what it is you are researching. You may think you have the best plan when you could qualify for something much better. When it comes to your parents plans, you can often continue them on the COBRA plan. COBRA is good if you really like your coverage but it tends to be pricey. COBRA might be the way to go if you already have a pre-existing condition because often the plan is continued without stipulations of pre-existing.

    If you want to look around and check out prices, let GradGuard do it for you. GradGuard only represents A rated companies so you know you are getting coverage from financially sound companies. GradGuard also offers over the phone consultation on all plans so you can get a clear understanding of what exactly is covered. It is common that coverage is not provided because the policy owner did not know there own coverage limitations. You do not want to realize what your coverage entails when you get the bill from the hospital!


    Hint for future grads: network now

    June 24, 2009

    College seems to fly by – making countless mistakes and learning a few life lessons along the way.

    As those few years fly by,  graduation sneaks up… and so do the pressures of finding a career.

    A recent study by the National Association for Colleges and Employers found only 19.7 percent of 2009 grads who applied for a job actually have one.

    This is where networking comes into play. Were you out on a thrusday night partying when you could have been interning? Instead of memorizing all those boring names in nice suites were you counting down the seconds of the clock?

    Networking is highly benificial for careers, escpecially in this job market. By putting your hand out to meet new people and really connect with professors may seem like a daughting task. However a good reccomendation from a professor or a connection in need of an employee with your qualifications will come in handy.

    After you make a few  connections consider joining a networking website, such as facebook or the more professional linkedin. These sites will help you keep in contact with those professors or previous employers who have a good word or two to say about you.

    Part of college is meeting new people and developing your network skills, so get out there and meet some new friends!


    Medicare Fruad Ring Busted

    June 24, 2009

    Federal agents busted a fraudulent medicare ring that stretched across five states. The Miami based ring was scheming to submit 100 million dollars in false claims for HIV therapy. The organization consisted of eight people and operated through empty store fronts and post office boxes.

    U.S. Attorney Jeffrey Sloman reported to the Miami Herald:
    “These defendants have taken health care fraud to a new level, the breadth and scope of the scheme is different than what we’ve ever seen before.”

    The Obama administration has made a point to stop insurance fraud as part of an overall plan to reform health insurance. Since 2005, the US attorney’s office has already charged about 800 suspects for filing 2 billion in false claims.

    The Miami Herald also released that Michel De Jesus Huarte, 38, is charged with operating six Miami-Dade clinics that submitted $50.2 million in bogus claims for infusion therapy to treat patients with cancer, HIV, AIDS, chronic pain and varicose veins.

    Huarte recruited people from Cuba to run the fake store fronts. It is believed this was planned so that the others could flee back to Cuba if charges were ever brought up. Orlin Tamayo Quinonez, 35, and Juan Carralero, 56, and Madelin Barbara Machado, 35, were among those recruited but they are suspected of having fled to Cuba.

    Operations expanded to all five states when Huarte teamed up with Ramon Fonseca. The two opened up 30 additional clinics and targeting private insurance companies that operated under the medicare advantage plan. Four others have been taken into custody as suspects in the operations.