So many students lack an idea about a challenging aspect of going to university. This aspect has nothing to do with academic importance but it’s the key to student wellbeing. It’s getting the right health insurance.
In the past, it wasn’t very easy for students to pick an option that would provide sufficient coverage in the case of needing medical assistance. After the passing of the Affordable Care Act, things have started to change. Today, students have a number of possibilities when it comes to getting health insurance and comprehensive medical assistance. Here are some of the essentials to keep in mind.
Shop Around and Look for Different Options
This tip applies to all people looking for health insurance and not only to university students.
Review all of the coverage options. There are numerous websites that will give you access to comparison tables and details about each possibility. By comparing coverage options side by side, you’ll find it easiest to identify opportunities and shortcomings.
As a student, you have a choice. You may want to decide to choose an insurance plan on your own. You may also stick to the insurance plan that your parents have. If you’re already working, you could be eligible for coverage via your employer. One thing to remember when examining such options is that the most inexpensive insurance isn’t always the best one. The amount of coverage you get is much more crucial.
The Pros and Cons of the Different Options
You’re aware of the fact that different options are out there. If you need assistance in terms of drawing a comparison, you’ll probably find the following article section to be really useful:
Sticking to the health insurance plan your parents have
All students under the age of 26 have the right to remain under the health insurance plan that their parents have. One of the problems stemming from this option is the absence of network providers near campus in case students decide to go out of state. It’s also important to have an idea about how the insurer will reimburse emergency care claims.
University health plans
Some schools give their students access to university health plans. This usually happens when the university has an agreement with a certain insurance company. In this case, the premium costs are grouped with other university expenses. This means that the financial aid students receive can be used to make the necessary payments. The problem with university plans is that they could feature limited coverage. Check what’s covered and what’s not, especially if you also have access to alternatives.
Medicaid health insurance
This is an opportunity that’s available to university students that come from poorer families. The federal state program will provide coverage in such instances.
This type of insurance refers to the purchase of coverage through health insurance exchanges (marketplaces). This is another opportunity for the students that have to ensure medical assistance on a limited budget. Discounts are mainly dependent on the household’s income. Once again, it’s imperative to take a good look at the benefits provided before choosing the most inexpensive option available via the insurance exchange.
Consider a Catastrophic Insurance Plan
If you’re still looking for student health insurance options on top of the four possibilities listed above, you may want to consider catastrophic insurance plans.
Catastrophic insurance plans are available for individuals under the age of 30. The plans are known for the fact that they provide less coverage than the standard less insurance. On the upside, a catastrophic plan happens to be a lot more affordable.
One thing students should keep in mind about this insurance is that government subsidies can’t be used to make payments. Also, catastrophic health insurances have a relatively high deductible. As a result, many people that pay for such a policy postpone seeking medical assistance. A catastrophic plan doesn’t cover for prescriptions, either. The cost of medications will have to be paid out of your pocket.
As a college student, you have options and you can enjoy quality healthcare that’s also affordable. You’ll simply have to dedicate some time to doing research. Getting your parents involved in the process or having a consultation with an insurance advisor will make it a lot easier to pick the option that’s the best one for your needs.