Getting to Know Your College's Student Health Plans
If you attend school far from home, then the health insurance plan offered by your college will likely be your best option. While some schools fund their own, such policies are typically sold by an insurance carrier who has contracted with your school to offer a health care policy to students at the unsubsidized premium price.
According to a study from the United States Government Accountability Office, over half of all colleges nationwide offered a student health insurance plan in the academic year 2007-2008, with that percentage being even higher for four-year schools. While not all colleges offer health-care coverage to their students, those that do vary greatly in the comprehensiveness and cost of their health insurance policies.
Once you've reviewed the pros and cons of a college-sponsored plan and think you know what you want, you can request your complimentary quote here!
Premiums range from $30 to $2,400 a year
Like all types of insurance, you get what you pay for when you sign up for a student health insurance plan. The annual premium for a plan may range from $30 to $2,400 a year, with the bulk of the plans surveyed in the GAO study falling in the $500 to $999 a year category.
Plans with cheaper premiums usually set lower limits on the amount they are willing to pay for covered services – some limits are even as low as $2,500 for each illness or injury – whereas those with more expensive premiums set higher limits and provide benefits such as preventive services (i.e. routine physical exams) and prescription drugs. If you're not satisfied with your student health insurance plan, try an alternative.
Benefits a mixed bag
Colleges tailor their student health insurance plans to juggle affordability and comprehensiveness, though the order in which they prioritize these two traits varies from school to school. There are, however, certain standards to which all school-sponsored health plans are recommended to adhere, as mandated by the American College Health Association. (ACHA) These include coverage of preventive services, mental health services, catastrophic illnesses and injuries.
Availability of student health insurance plans
At the 57% of colleges that do offer coverage for students, you might not even be eligible if you don't meet a certain threshold of credit-hours. In order to maintain the affordability and longevity of their health-care plans, many institutions bar part-time enrollees from their programs, out of a fear that people with high-cost medical conditions will enroll part-time in the college simply to take advantage of the medical benefits. This in turn raises rates for everyone else in the program, making it less appealing and harder to sustain.
Whether you're enrolled part-time or a student who's merely looking for a more attractive health-care alternative, we can help you choose the right student health insurance plan. Getting started is easy; simply request a free quote for student health insurance right here!
Sources
http://www.gao.gov/new.items/d08389.pdf
http://www.insurance.ohio.gov/documents/ParentswithCollegeKids.pdf