Student health insurance

It is easy to imagine that you don’t need health insurance when you are young, fit and healthy. However, a lack of financial support may place you in serious financial hardship even with a minor injury. Many college or university students may overlook health insurance prior to attending school, although the majority of 4 year degree colleges now make it compulsory. Ignoring student health insurance and its benefits is an option that you simply cannot afford. There are numerous questions that come to mind when considering this invaluable health cover and there are 3 separate routes you can choose to take.

Parent’s Health Insurance Plan – You may believe that your parent’s are more in need of a health insurance plan than yourself. However, the majority of these types of policies also offer to cover the offspring of the plan’s beneficiaries. Most plans will cover full-time students between the ages of 18-24, although this can vary from state to state.

The advantages are obvious. This is the most convenient form of health insurance. The monthly or annual premiums and any billing enquiries are handled by your parents. The same can be said should you ever need to make a claim. You will also find that when you apply for health insurance via your parent’s plan, you typically cannot be declined for medical reasons.

The disadvantages of this kind of policy should also be taken into consideration. If you have to go to school in a different state, your levels of cover are more than likely to be decreased. Once you graduate or if you drop credit hours, you may find that your coverage is dramatically reduced. Finally this form of health insurance may be far more expensive than some of your other options.

School-Sponsored Student Health Insurance Plan – As previously mentioned many schools now require their students to have a health insurance plan in place prior to them enrolling. Should you enrol at college with no specific cover in place, the likelihood is you will be placed on a school-sponsored plan. You merely need to be a full-time student at that college to be eligible.

The main advantages of going “in house” for your insurance is that in the majority of cases medical services can be rendered on campus. You will also find that this is the most affordable option. The best course of action is to liaise directly with the school’s student resource office who should furnish you with ample information of this subject.

There are, of course, disadvantages to taking a school-sponsored plan. Firstly, and most importantly, you will not be covered for any medical services rendered off campus. Should you drop credit hours or graduate, you are likely to lose coverage and you will also find that many school plans restrict benefits that your other options will provide.

Private Student Health Insurance Plan – This is possibly the most comprehensive plan amongst your options. Simply put, this is a plan made specifically for students and is intended to cover every eventuality. In order to be eligible, you should be a full-time student aged 17-29 and attending a state accredited college or university.

The advantages of this plan are that it provides you with a broad range of benefits. Most notably, your coverage travels with you should you go to a school in a different state and you are also completely covered for your journeys to and from college and while off campus visiting home.

However, one of the major disadvantages of this type of policy is that it may be more expensive than your other options. Unlike the other policies, you may need to pay your premium as a large lump-sum amount. Unfortunately Private Health Insurance for Students is not available in all states and you can be declined for cover based on your medical history.

You still may not be convinced that Student Health Insurance is something you require. Young people have built a reputation for taking good health for granted, however this is one situation where it is not advisable. By having a suitable plan in place, not only are you protecting your health, but you are also protecting your finances. Even if you make sure that you have the most basic form of Health Insurance, this could spell the difference between starting your adult life in financial difficulties or on the right foot.

Last updated on Aug 24th, 2010 and filed under Health Insurance. Both comments and pings are currently closed.

1 Response for “Student health insurance”

  1. Grad Guard says:

    Please let your readers know that is also a strong national plan that is available to students without underwriting. It is another good option for students and also includes tuition insurance as well as emergency medical evacuation insurance as part of the cost.

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