GradMed insurance is an insurance broker that markets short-term, non-renewable insurance to recent college graduates. Pre-existing conditions are never covered, and all conditions that appear in one coverage term are considered pre-existing for the next. GradMed is really only worthwhile for those who already have jobs -- and health insurance -- confirmed at some point in the near future, and need to avoid a gap in HIPAA coverage. Otherwise, when your GradMed term is up, if you're sick or injured, you're out of luck. You can't get more GradMed and you can't get any real insurance, either.<br />
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Unfortunately, GradMed pays university alumni associations to market their program, and to share university logos and lists of graduating seniors with the company. From the web promotional materials, it looks like universities and alumni associations sponsor GradMed as a service to their graduates: this is not true. GradMed pays alumni associations a royalty for every one of their students that signs up with GradMed.<br />
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In most states, GradMed is a completely legal program, and they haven't broken any laws that I know about. I do think, however, that their marketing is dishonest, and can lead to individuals thinking they're insured when they're really not.<br />
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For more, read a blog entry I wrote about them here: http://publicoption.blogspot.com/2009/09/gradmed-iii-return-of-sith.html