A “student health plan” refers to a special policy of health coverage that universities and colleges offer to their enrolled students.
Most young people feel they’re nearly invulnerable and that their bodies will rapidly bounce back from any illness or injury. College students shouldn’t have to realize the hard way they’re just as vulnerable to mental illness, sickness, injury, and accidents as grown-ups. College students also shouldn’t have to learn in a difficult way on why it is crucial to have appropriate health coverage. Understanding your choices and how they work is crucial to staying in good mental, physical and financial health while you are through with college.
If you are or shortly going to be a college student, you have several options when it comes to obtaining health insurance coverage while keeping expenses low. You may reason that as a college-bound young adult the health insurance choices that are obtainable to you before and after you get on campus are limited.
The fact is, though, that owing in large part to the Affordable Care Act—also usually referred to as the ACA or Obamacare—students have some choices when it comes to covering their healthcare necessities.
Here is what you need to be acquainted with concerning the six most common options:
- Stay on your parents’ health insurance plan
Thanks to the Affordable Care Act, college students can stay on their parent’s health insurance plan till they reach the age of 26. While this is a good choice, students should understand the fact that their parents’ health insurance plan might not apply if they attend an out-of-state college. Something different to think about is the fact that students can lose health insurance plan if a parent loses his or her job. What it means is that if you can be included in your parents’ health coverage, it’s vital to have a backup plan, so you aren’t left without health insurance plan if worse turns to worse.
- Health Plans Offered by the School
Some schools make available Student Health Insurance Plans, which means the school is responsible for paying dues instead of an insurance company. One of the most crucial things about this type of health insurance plan is that financial support can pay for it. It’s also possible your school’s plan offers extra services than your parents’ plan. That being said, a Student Health Insurance Plan might be costlier than standard individual health insurance plan. In either case, it’s a choice that’s most definitely worth exploring to see how much value it offers.
- Sign up for a catastrophic health plan
College students bothered about the costs involved with costly medical treatments, long-term clinic stays and the like might the idea of applying for a catastrophic health plan. While this type of health coverage is of advantage for the above situations, it comes with enormously high deductibles, occasionally as much as $6,000. On the upside, catastrophic health plan includes three primary care office visits and preventative services obtainable free of charge; whatever more is your financial duty. A catastrophic health plan could make for a feasible option until you get a job that offers health benefits.
- Temporary Insurance
Temporary health coverage offers you with a health plan that lasts anywhere from three months to a full year. This type of health plan is reserved for times when an old plan is no longer obtainable, and you have yet to find a replacement plan you like. Usually, you can obtain quick health plan with this choice, and you might find it more affordable than a comprehensive plan. One of the disadvantages of a short-term medical policy is it doesn’t cover primary or preventative care. If you have any pre-existing circumstances, temporary insurance may not insure them.
- Receive Medicaid coverage
College students who emerge from low-income families might have the choice of getting health insurance health plan through Medicaid. Most students still considered to be dependents on their parents’ tax returns will have to use their parent’s pay to see if they qualify for Medicaid health plan. Something to bear in mind with Medicaid health plan is the fact that the choice isn’t obtainable in every state. If you were in temporary care and are starting to age out of the scheme, you stand a good chance of getting coverage.
Those who will shortly be college graduates and become too old to stay on their parents’ health coverage can look into medical health plan offered by the Consolidated Omnibus Budget Reconciliation Act, more commonly referred to as COBRA. This particular medical health plan option offers you the same health plan you had with your parents’ health insurance plan for another 36 months past your 26th birthday. COBRA health plan can be rather costly, with premiums running as high as 102 percent. Much like temporary health insurance, COBRA can serve as a link over troubled healthcare waters while you pursue a job with an employer who offers health insurance or you can find an individual affordable health insurance plan.