Graduation gift for college students: You may not lose your health insurance

Major insurers -- Humana, Kaiser Permanente, UnitedHealthCare, and WellPoint -- announced they will extend insurance to those graduating from college and soon to be kicked off their parents' health insurance plans. Officially, the new healthcare reform law requires health insurers to allow young adults to stay on their parents' plan until they are 26, but that provision doesn't kick in until Sept. 23.

"We are also working hard with other insurers on similar proposals and sent a letter today offering to work with each of them to expand this opportunity even further, " Health and Human Services Secretary Karen Sebelius said in a statement Monday. She went on to explain, "The letter follows productive discussions with insurers since the bill passed about closing the gap in coverage for college graduates or young adults whose birthday in 2010 made them ineligible to continue on their parents' plans."