"My daughter will be graduating from college this month. I can keep her on my insurance by using COBRA until she finds a job with benefits. Should I do that or look for an insurance plan that covers just her? She is a healthy 22-year-old."

Cheri is going to have a rude awakening when she sees the cost of COBRA coverage for her daughter. We're talking many hundreds each month. Now is the time to compare that option to a high-deductible plan her daughter can get on her own.

A high-deductible plan is really catastrophic insurance. In exchange for a low monthly payment, the insured agrees to share the risk by covering the "little stuff," such as visits to the doctor, prescriptions, routine tests and so on -- up to the amount of the deductible each calendar year. Catastrophic insurance is there in the event of something huge, such as surgery, contracting a disease or expensive treatments that exceed the cost of that big deductible.

This type of health insurance is generally a good option for anyone in good health, such as Cheri's daughter. Statistically an insurance company will see her as a good risk because there is a very small likelihood they'll have to shell out any money for her health care. Never forget that the No. 1 mission of any insurance company is to not have to pay claims.

Even if Cheri's daughter never places a claim on her high-deductible plan, she may benefit in other ways. Most health insurance companies contract with health care providers for lower rates. For example, Dr. Care may charge $75 for an office visit, but his patients with Feelgood Co.

health insurance pay $55, a rate that has been negotiated by the insurance company. Even though Cheri's daughter would have to pay for her visit out of pocket until she reaches the deductible for the year, she still might benefit from her insurance's negotiated lower rate.

Not knowing where Cheri lives, let's assume it's my home state: California. Anthem Blue Cross offers Tonik health coverage with three simple health care plans. The first plan, "thrill seeker," allows for four doctor visits per year with a $20 co-pay and $5,000 deductible. The premium is $77 per month. There are two other plans, one with a $3,000 deductible and one with a $1,500 deductible. You can learn more details about these plans at www.TonikHealthInsurance.org. Or Google Blue Cross plus your state.

Many health insurance providers offer individual high-deductible plans, so it would be wise to shop around to compare rates and coverage.

Many high-deductible plans qualify for the insured to open a health savings account, which allows you to contribute pretax dollars to cover health and medical costs including, in some cases, the deductible. Cheri and her daughter should consider this option, as well.

Lastly, consider all of the possible ways to get discounts on routine health and medical services. For example, members of Sam's Club receive pre-negotiated discounts from a nationwide network of 375,000 participating health care professionals and services. This is not health insurance, but a way to reduce the cost of medical services by getting discounts off the scheduled rates. You can learn more at www.Sams.HealthAllies.com.

Mary Hunt is the founder of DebtProofLiving.com and author of 17 books, including "Debt-Proof Living." You can e-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To find out more about Mary Hunt and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.
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