College students usually don’t think about illness as they decorate their dorm rooms and prepare for classes, but the common cold, the need for birth control and medical emergencies are reality on college campuses. Health insurance ensures students can access the medical treatment they need. This year, students can be prepared thanks to five health insurance options.
1. Stay on the Parents’ Plan
Health care reform allows students younger than 26 to remain on their parents’ health insurance plan. For the best medical care, students should verify that their parents’ plan includes in-network doctors close to campus. Otherwise, they could face large medical bills if they need treatment or they would have to wait until vacations when they can see their family doctor.
2. Buy an Obamacare Policy
Students who have limited income may qualify for a subsidized Obamacare policy. They may enroll on November 1.
3. Apply for Medicaid
Low-income students who earn up to 133 percent of the federal poverty level may qualify for Medicaid insurance coverage. The parents will need to apply if the student is considered a dependent.
4. Purchase Catastrophic Coverage
This type of insurance policy features a low premium and high deductible. Students find it attractive because they can afford the monthly premiums and then are covered if they are in a car accident or other medical disaster. Unfortunately, deductibles can be as high as $6,000, which strains most college student’s budgets, and some students may not seek routine treatment because they can’t afford the deductible.
5. Sign up for the College’s Health Plan
Many colleges provide health insurance to students who would not otherwise be covered. This option is beneficial for older students, and a student’s financial aid package can pay for it. These plans may include limited physician participation and may not cover treatment for a student who’s hurt while intoxicated.
With five health insurance options, college students can receive the emergency medical treatment and routine care they need. That’s good news for students and their families who should discuss their options with an insurance agent today.
