by KYW's Salil Gutt

Graduation is still a couple of months away but not too early for health insurance for newly minted college grads.  Many employers do not offer health insurance to their employees so knowledge of alternatives is important.  Here are the choices.

First. Almost half of students are on their parent's health plans. After graduation they can stay on their parent's policy for three more years by paying the premiums themselves and a 2% administrative fee. An important point, grads must sign up with the parents' insurer within 60 days after graduation.

Next. Extension of the university's health plan. Available only for several months to at most a year after graduation. Student insurance. These policies are inexpensive and can be kept on until age 30. However, one must sign up when one is a full time student.

Finally, individual long term policy. The best and cheapest bet here is to buy a high deductible HSA compatible policy. A good website for student and individual health insurance policies is www.ehealthinsurance.com.