Going off to college is an exciting time for most young people, but it also comes with a lot of responsibilities. One of these is proof of adequate health insurance, which most colleges and universities require.
Parent Health Insurance Plans
The great majority of college students will be covered by their parents' health insurance plans, but other options, such as student health insurance plans, are extremely affordable and easily available. Since a parent's plan has already paid for a child's coverage, buying a student policy may seem like an unnecessary and redundant expense. Depending on your college or university, you may be able to opt out of the mandatory student health plan with proper proof of insurance. If your college automatically enrolls you in its student health plan you will see the charges in your student fees.
Student Health Care Considerations
There are, nonetheless, some important questions regarding student health insurance that both parents and students will want to explore. These include:
- Differences in Coverage
An important plus to a student health insurance policy could be that it offers coverage that a parent's policy doesn't. This can be very important if, for example, a student has a preexisting condition that a parent's insurance provider refuses to cover. Families will want to stick with their current family health insurance plan if it covers important treatment.
- Differences in Price
A student health insurance policy can be quite affordable since students are, by and large, young and in good health. It's conceivable that a student insurance premium could cost less than what the parents would be paying.
- HMO and PPO Network Availability
Where a student goes to school could play a big roll in a family's health insurance decision-making process. If a Los Angeles-area student is covered by her mother's HMO, and she decides to go to school in Vermont, she may discover that there are no network physicians in that area for her to use. Using the school's health insurance plan will be the most likely choice. If she decides to go to school in Los Angeles, she'll have access to her mothers HMO network, making her school's policy redundant.
- Portability
Graduating students may want to enroll in their college or university's plan if they can maintain it after they've graduated. Almost all college graduates will need it, seeing as their parents' plan will no longer cover them once they're on their own.
Return to the Save on Health Care Learning Center >>>
Health insurance providers may no longer automatically cover you under your parents' health insurance plan as on their books, you are considered an adult at the age of 18.
Your parents may also no longer think it is cost-effective to cover you under their policy and if you are going to college, opting to use the school's insurance policy can be one of the best ways to save on health insurance.
Group Rates
When you join a health insurance plan through a college or university, you will be able to take advantage of a discounted group rate. There is power in numbers, especially when it comes to negotiation. The head of your school's medical program has probably worked aggressively with insurance companies to negotiate the best low-cost insurance package for their students and you stand to benefit from lower rates and outstanding coverage. Also consider that many university students have accidentally signed up for insurance in their loans and other paperwork without realizing it, any may be paying for double coverage under their parents' existing policy. Be sure to double-check and compare your current health care to the school plan to see which options make sense. Your parents' plan may be a limited network plan, which is something serious to consider if you're going to school out of state.
Necessary Insurance Coverage
Health insurance is a necessity for all regardless of your current health. Accidents and injuries happen all the time, and the out-of-pocket costs could cause you financial hardship in the long run. Consider the fact that accidents can happen at anytime on a campus, especially due to the hard partying that college is known for. You are also more likely to engage in risky behavior and experiment with new things than at any other point in your life previously. Did you know that medical bills account for over 60% of new bankruptcy cases? Don't get caught without proper medical care coverage when school insurance can be an easy option.
An affordable school health insurance policy is a great way to save money on health insurance and prepare for the worst-case scenario.
Learn How to Save on Health Insurance Costs! >>>
Finding employment is hard enough for recent college grads, but securing a job that offers health insurance seems to be downright impossible . At least, that's what statistics show. According to a 2008 report from Commonwealth Fund, 34% of college grads will spend at least part of the year after...
Read full article: Health Insurance Tips for Recent College Grads
Many students who are entering college have the benefit of health insurance coverage through their parents health insurance policy. Most students are under the age of 25, and that usually entitles them to continue with their family health insurance coverage . Other plans allow a student to...
Read full article: Health Insurance for Students
