How to Find a Health Insurance Plan for College Students
Few parents have really considered whether they need a health insurance plan for their children who are college students.
In general, parents choose to have their college-age kids stay on the health insurance policy they get through their employer -- frequently this coverage is better than they can find through the child's school or on the open market.
However, it is not always that simple to find a health insurance plan for college students.
Some plans may put limits on coverage of students 18-22, possibly because of their financial dependencies and whether they still live with their parents or on campus.
Plus, the new Obama-led health care legislation has made finding a health insurance plan for college students that much more difficult.
The new regulations force companies to offer coverage of an employee's children until they are 26 year olds, with no regard to whether they are a student or have a job that allows them to be financially dependent.
This new law will kick in on September 23, 2010, or when their plan is up for renewal.
In most cases, the really means that the law begins in January 2011, but may be as late as July 2011.
In those cases, students may find that they have no health insurance coverage for a few weeks or even months.
Given how difficult it is to find insurance for college-age students, Insuriffic offers a few ideas on how to find the best health policy for college students: Look to Your Employer Although insurance plans offered by large companies generally offer the most well-rounded coverage, it may not be the best course of option when looking for health insurance for your dependents.
Call your benefits department to make sure that your college-age student will still be covered.
Ask if any of the choices will ensure that your child does not lose coverage, and when the open enrollment period begins.
If you are stuck with a plan that does not renew until 2011, COBRA will allow you to maintain coverage for your child until the new plan kicks in.
Unfortunately, you will have to pay for that coverage.
On a positive note, when the new law is implemented, companies are not allowed to charge more for adult children who are suddenly eligible to be on an employee's plan.
Policies Specifically for Students Most universities offer health insurance for students, and some of it can be very good.
But in general, these plans offer little protection and cost more than comparable plans offered by companies.
The new regulations will likely not affect these plans.
When looking for a plan at your child's university, make sure that there are no exclusions for pre-existing conditions, that mental health needs are covered, and that it offers significant payout for catastrophes.
Health Plans for Individuals For students who just need basic catastrophic coverage, at least until the new law comes into effect, they may find that it is worth getting a health insurance quote for student insurance from a reputable company.
Since many students are looking for the bare minimum coverage, they may find that they can get all they really need at a reasonable cost, often as low as about $100/month.
While this is not an ideal long-term solution, it may keep students covered until the new law begins in 2011.
In general, parents choose to have their college-age kids stay on the health insurance policy they get through their employer -- frequently this coverage is better than they can find through the child's school or on the open market.
However, it is not always that simple to find a health insurance plan for college students.
Some plans may put limits on coverage of students 18-22, possibly because of their financial dependencies and whether they still live with their parents or on campus.
Plus, the new Obama-led health care legislation has made finding a health insurance plan for college students that much more difficult.
The new regulations force companies to offer coverage of an employee's children until they are 26 year olds, with no regard to whether they are a student or have a job that allows them to be financially dependent.
This new law will kick in on September 23, 2010, or when their plan is up for renewal.
In most cases, the really means that the law begins in January 2011, but may be as late as July 2011.
In those cases, students may find that they have no health insurance coverage for a few weeks or even months.
Given how difficult it is to find insurance for college-age students, Insuriffic offers a few ideas on how to find the best health policy for college students: Look to Your Employer Although insurance plans offered by large companies generally offer the most well-rounded coverage, it may not be the best course of option when looking for health insurance for your dependents.
Call your benefits department to make sure that your college-age student will still be covered.
Ask if any of the choices will ensure that your child does not lose coverage, and when the open enrollment period begins.
If you are stuck with a plan that does not renew until 2011, COBRA will allow you to maintain coverage for your child until the new plan kicks in.
Unfortunately, you will have to pay for that coverage.
On a positive note, when the new law is implemented, companies are not allowed to charge more for adult children who are suddenly eligible to be on an employee's plan.
Policies Specifically for Students Most universities offer health insurance for students, and some of it can be very good.
But in general, these plans offer little protection and cost more than comparable plans offered by companies.
The new regulations will likely not affect these plans.
When looking for a plan at your child's university, make sure that there are no exclusions for pre-existing conditions, that mental health needs are covered, and that it offers significant payout for catastrophes.
Health Plans for Individuals For students who just need basic catastrophic coverage, at least until the new law comes into effect, they may find that it is worth getting a health insurance quote for student insurance from a reputable company.
Since many students are looking for the bare minimum coverage, they may find that they can get all they really need at a reasonable cost, often as low as about $100/month.
While this is not an ideal long-term solution, it may keep students covered until the new law begins in 2011.
