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The ABCs of Health Insurance for College Students

March 19, 2013
health insurance for college students

The Stethoscope

Choosing health insurance for college students has become more tricky over time – with a changing economic landscape and changing legislation, the old tried and true routes of remaining under a parent’s plan or easily accessing a college plan are not as reliable as they once were. With more and more parents finding themselves either short of work or out of work altogether, and companies cutting back on costs including health coverage, the once relied upon and, often expected, group coverage for the family has become more and more of a rarity.

The Government Accountability Office puts the number at 20 percent of those who are traditional-age college students who are going to school without the security of health insurance. When you consider that college students typically fall in the late teen or early twenties age group and in the prime of their physical health, this may seem to be a small concern. But that isn’t always the case.

College is a life transition. For many students, college marks the first step on the road to independence, away from parents and toward adulthood, and this can be a precarious time. Not to mention the financial stress – many students face loans and high tuition costs –  a time no student wants to complicate with medical bills because of unexpected illness or injury.

So, what are the options for those who are seeking health insurance for their college student?

Family Healthcare Coverage

While there’s been a decline in the amount of coverage that group healthcare plans contain, many do cover adult children for the most part. The smart thing to do is to check the policy or give your agent a call before sending you child off to school uninsured…and insecure.

College or University Student Healthcare Coverage

Most universities and colleges offer some type of Health insurance for college students —plans that often come with fairly low premiums. This is a direct result of the age and generally healthy state of most college age kids. The big watch out when it comes to relying on this for college student health insurance coverage is that these plans often come with very low coverage amounts…often no more than a couple of thousand of dollars…not much to work with when considering current hospitalization and medical care costs. Check with your school or an agent to get the specifics of your college health plan, and be sure to weigh your risks and budget when making a decision.

Online Individual Insurance Providers

The other option that college students have for health insurance is an individual policy designed to protect them whether they are in school or out. Once again, a premium policy can be had for a fairly nominal amount with coverage that is flexible and can be built to suit the health insurance needs of the college student. Students and their families should research the options available to them and speak with an agent to learn more.

This article is brought to you by eindividualhealth.com, a full-service health insurance agency that puts the most qualified health insurance professionals at your fingertips. Our plans cover a host of scenarios, offering some of the biggest and best health insurance providers in the business so you can keep enjoying your life and getting the most out of it. For comprehensive and cost-effective quotes on College student medical insurance plans or for any other health insurance needs, give us a call, toll-free at 888-887-4325, or online at eindividualhealth.com.

Photo by Alex E. Proimos

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