subject: University Student Medical Insurance - How To Choose [print this page] What is the best option when you want to buy medical insurance for a college student? Insurance may be available from your university, from a mother or father's health insurance policy and from a policy acquired individually.
Contracts bought from one's college or university has the advantage of being very low in cost. These policies tend to be very cheap, but tend to have lower benefits than to health insurance plans purchased from other sources.
Policies marketed through colleges will usually have significant limitations on the benefits that they pay for big expenses. Often the benefits that are paid for smaller expenses are excellent, so most people's experience with these policies is positive. However, the unfortunate few who have major expenses are often unhappy with their coverage.
The annual limit on what many student insurance contracts pay is often one tenth of the limit on other contracts. This can mean that a student who has a major trauma starts their adult life with a massive debt.
These policies are also temporary insurance. This can be a problem if a student has a major medical event while covered, but continues to have medical expenses after they are too old to be insured by their student policy.
The price advantage of policies purchased directly from one's university or university is often more than offset by fact that the policies generally have much lower benefits for major expenses. For this reason, college students may fare much better with one of the other options.
Insuring a student through their mother or father's health insurance policy is usually a better alternative but this too has its drawbacks. Policies available through a father or mother's medical insurance policy will often have excellent benefits. However, these contracts have the disadvantage of being temporary.
You may be able to insurance a student on their mother or father's plan until they are age 26. This works well for many college students. However, there are many students who are unable to get coverage after they become too old for their mother or father's contract due to a pre-existing condition.
Individual insurance policies can be purchased from companies like Blue Cross Blue Shield are often best alternative. They can have the advantages of having robust benefits similar to a plan that one might get through their parent's group insurance policy and also have the advantage of being permanent coverage.
You may be able to find a contract from a major insurer that will provide $5 million or more in benefits. There may also be contracts with unlimited benefits available.
You can easily find a plan that you can keep until age 65. At 65 one is eligible for Medicare. For most Americans, Medicare is available with no medical questions.
Although these contracts are often more costly than plans available through one's college, they are typically very affordable. In most states, the price for health care insurance is lower for young adults when compared to older ones. This means that the rate for most university students is generally quite low.
Although there are many places where you can purchase insurance for a university student, each one has its drawbacks. The typical policy purchased through one's university is usually cheap, but will also have low benefits and is temporary. Policies offered through a father or mother's plan will generally offer better coverage but is also temporary. Plans acquired in the individual market will often have excellent benefits and can be kept until age 65. These plans have the drawback of being more expensive.
Many people make the decision to pay more for these contracts for two reasons. They are often not much more costly. plans will provide much better health insurance coverage.
by: Alston Balkcom
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