How to Understand College Health Insurance
Insurance plans vary regarding cost, coverage and deductible. Many colleges require all students to maintain health insurance while they are enrolled in school. Some insurance companies extend coverage to college students older than 18 years old who remain their parents' dependents. If a student does not have insurance, colleges usually offer a third party insurance plan. However, students can select a non-school-sponsored insurance plan.
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Instructions
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Review your current insurance policy carefully before purchasing college health insurance. Evaluate whether it is cost effective to maintain your existing insurance (e.g., will you have access to a campus health clinic) or buy a separate plan.
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Determine if your college has a deadline to present proof of health insurance. If you fail to timely submit evidence, the college might place a hold to prevent your registration as well as late fees.
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Search health insurance policies, such as through uhcsr.com or acsa.com/student-health-plans.aspx. Most insurance companies process online applications faster than paper or mail-in applications. Companies might deny coverage based on pre-existing conditions.
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Compare the insurance policy terms, benefits and restrictions. You must understand the annual deductible, co-pay amount, medication coverage and your physician network (e.g., can you visit a doctor in another state). You might have to get different insurance if you study abroad.
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Submit payment. If you receive financial aid and select the school-sponsored plan, you likely will have the insurance cost added to your college bill. If you do not select a school-sponsored plan, you might be able to establish a payment plan (e.g., semester). Most outside scholarships and grants (e.g., private foundation, non-profit) allow students to pay for insurance, a school expense, with award money.
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Tips & Warnings
College health insurance plans usually charge more for dental coverage.
If you become part-time or take a leave of absence from school, your insurance company might deny coverage. Michelle's Law prohibits companies from denying coverage to students who take medical leaves of absences for up to one year. Effective since October 9, 2009, Michelle's Law results from a cancer stricken college student's inability to cut classes because she would lose her student health insurance.
