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[IP] college graduation - insurance options

It's finally happening and I don't know whether to celebrate or be  
terrified. Our daughter, Jenny, will graduate from college May 15. Right  
now, it looks at though she is unlikely to find a job with benefits and she  
will be off my insurance if she isn't taking 12 units. We can pay COBRA for  
a while, but that is over $500 a month. Does anyone have suggestions for a  
21 year old with type 1 diabetes in California?
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