How to Find Student Health Insurance

Already burdened with the expense of college tuition and food and lodging, students also have to worry about medical care. Here are some important considerations when looking for student health insurance:

• If you are covered by your parent's health insurance, stay on it.  The recently enacted Affordable Care Act now allows parents to keep their children in their medical insurance plan until age 26.  This does not apply to employed children eligible to participate in their employer's health insurance plan. Since most students only work part time or temporary jobs, they are likely not eligible for employer medical insurance plans.
• Check out your college or university student health insurance plans.  Since most schools require students to have health insurance, many schools offer student health plans with their tuition payments.Be sure to check what is covered, deductibles, co-insurance and co-payments.  Some universities such as the University of Nebraska do offer a wide variety of benefits.  Some schools fully cover services offered within the university setting such as counseling in the student counseling center but have co-insurance for services obtained privately.
• If you have current health insurance, stay on it.  It is likely to have better coverage than the average student health insurance.
• Check with insurance brokers both in your locality and online.  They generally work with different medical insurance companies that offer student health insurance and can guide you on what is best for you.  be sure to exercise due diligence to be sure you are dealing with a reputable company.
• Before choosing a student health insurance plan, analyze your needs and resources.  If you are healthy and have enough savings to cover doctor visits, medicines and labs, you could opt for plans with high deductible and lower monthly premiums.In this case, you are simply insuring for catastrophic illness where you might require hospitalization.
• Be sure to analyze not only the benefits and services covered by your student health insurance plan but also the exclusions and limitations. The New Affordable Care Act has lifted the lifetime cap on medical benefits and by 2014, the annual cap on medical usage will also be phased out.  However, there are still coverage exclusions and limitations that companies impose.
• Colleges and universities usually require students from foreign countries to show proof of health insurance.  The considerations above can apply to them as well.
• Lastly, exercise due diligence in your choice of student health insurance plans.  There are outright fraudulent insurance companies out there who take your money and do not actually have you insured. You can always check with the state insurance regulator to be sure you are dealing with a reputable insurer.