Going off to college is one of the most exciting and important moments of your life. It is a time for learning, growing, and training for your life’s work. Going off to college can be scary too. It’s often your first time away from the comfort and protection of home.
Smart students should plan carefully in order to bring with them all the possessions they need everyday, but careful planning cannot ignore a very important, less tangible thing, their health. Health insurance for students is one of the most important things to bring with you to the dorm.
With the costs of medical care spiraling out of control, a good health insurance plan is more important than ever. If you are fortunate enough to have continuing coverage on your parent’s health insurance plan then consider yourself lucky. In all likelihood, your current coverage will exceed your other options in both cost and quality of coverage.
However, many new students are not as fortunate, and they are reaching the age where they are no longer covered under their parent’s health insurance plan. If you are among those students whose parent’s plan no longer covers them, then you should waste no time before investigating the available health insurance for students.
Your research will quickly reveal that you have two basic options from which to choose: 1) enroll in a college sponsored plan or 2) purchase coverage from a commercial student health insurance provider. Each has its own set of advantages and disadvantages.
Enrolling in your college sponsored health plan is very easy and convenient to do. The paperwork and applications can be completed before you unpack your first box of things in your new dorm room. The price is often right too, and the billing can often be included with your tuition and fees. Further, students with a college sponsored plan will enjoy easy access to on campus health facilities, and they will have minimal – if any – out of pocket expenses for routine visits. Also, dental and eye coverage is frequently included in a college plan.
However, while college sponsored health insurance for students is more than sufficient when dealing with minor illness or injury, it is likely to fall short in the event of a more serious condition. Typically, college sponsored health insurance for students provides primary coverage for treatment at the medical facilities of the college or university, therefore students may have very limited options when pursuing treatment at an outside facility, and such treatment is likely to require a referral.
Also worth noting is that most college plans provide no coverage to students who are traveling abroad. Perhaps the most important negative aspect of a college sponsored plan is that they typically have a relatively low threshold of maximum coverage, so a catastrophic injury could leave the student with significant medical expenses that must be covered out of pocket.
Many of the disadvantages of a college sponsored plan are addressed when health insurance for students is purchased from a commercial provider. Commercial providers will typically provide coverage domestically or internationally. Additionally, a commercial provider allows flexibility when choosing a medical provider as well as provides international coverage.
Another advantage is that the student can continue their coverage after graduation, so there will not be a lapse of coverage during the time between graduation and starting their careers. It should come as no surprise, however, that the great advantages of a commercial plan come at a price. Not only are premiums more expensive than the college plan, out of pocket expenses and deductibles are more costly as well. And the dental and eye coverage that is rolled into a college plan is likely to be absent in commercial health insurance for students.
No matter which direction you go, the important thing is that you make sure you are covered. Recent graduates often find themselves with debts from student loans and the like; health insurance for students can prevent medical bills from adding to that debt.
By: Sammy Kay