Tips to Help You Choose the Right Policy

Category Insurance

It is summer 2006. Young and not so young people are graduating from school and there are millions of people who are starting to think about student health insurance. Here are some tips for parents and students who are looking for health insurance for a college student, health insurance for a graduating college student or health insurance for an older graduate student. There are a lot of choices. This article is designed to give you an overview of the choices available to students.

Health Insurance For College Students You should explore all of the medical plan options available to you. Your choices may include:

  1. Getting health insurance through the student’s employer.
  2. Getting medical insurance through your local Blue Cross Blue Shield or other private health insurance plan.
  3. Getting “college student health insurance” through a plan offered by their college or university.
  4. Getting health insurance as a dependent on the policy of a parent or spouse.

When looking for the non-group health insurance plans that are available in your area, you may want to contact your state’s insurance department. You can contact them and find out which companies market individual health insurance in your area. Healthcare choices for the out-of-state student If you live on campus, look into the plans offered in each area. If your parents live in Florida, but you go to school in Texas, you should see what health insurance plans are available to you in both states. A student who has a permanent address of Connecticut and attends Yale in New Haven should only purchase a Connecticut-approved plan. If the same student transfers to UCLA, he or she can also explore plans offered in California. Some plans may even charge differently based on your zip code, so even if your two addresses are in the same state, you may still save money by looking at rates for both areas. Health Insurance For A Graduating College Student You should explore all of the medical plan options available to you. Your choices may include:

  1. Getting health insurance through the former student’s employer.
  2. Getting medical insurance through your local Blue Cross Blue Shield or other private health insurance plan.
  3. Purchasing short-term health insurance to cover you until your employer-sponsored plan becomes effective.
  4. Getting health insurance as a dependent on the policy of a parent or spouse.

Medical Insurance Plans to Watch Out For:

  • Discount plans. These are not health insurance plans! These plans can save you money on health care, but only offer discounted services and not true insurance benefits. If you had a major accident or sickness, getting 25% off of a healthcare bill of $50,000 may not give you the benefits you hoped for.
  • Accident only plans. Students get the flu, mono and even cancer. Being covered with an accident only plan can offer substandard coverage when compare to a comprehensive health insurance plan. (By the way, an unplanned pregnancy is not considered an accident either J. 🙂 )
  • Hospital Only or Basic Plans. These plans tend to offer good coverage in the hospital but little coverage outside of the hospital. These plans can save you from a hospital bill that might otherwise bankrupt you. However, today hospital stays are getting shorter and more and more healthcare is being done in doctors offices. If keeping your premiums low is important, consider a plan that covers you both in the hospital and in the doctors office that has a high deductible.
  • School Sponsored Clinics And Urgent Care Centers. They cover you well for the little things, but not so well for the big things. There may be no coverage for surgery or hospitalization. In contrast to hospital only plans, these plans my not cover you for a hospital stay or for surgeries.