Student Medical Insurance - Is it Enough?
Having student health insurance from a university plan is certainly better than not having any insurance.
However, these contracts will not cover your child as well as a typical private medical insurance plan.
The benefit limits written into these contracts can leave you with a bill you cannot afford to pay.
Since most students are young, affordable medical insurance is likely to be available for your child from a major insurance company at a low price.
You don't have to buy the bare bones policy from the university in order to get an inexpensive policy.
You may be able to get inexpensive coverage in the private market.
If your daughter or son goes to college in another state, you may have even more alternatives since you will have the option of using your home address or their home address on the application.
You may be able to keep your daughter or son on your group insurance.
Although policies marketed as student health insurance are often more affordable than other contracts, the relatively small price differential may not make up for the major difference in benefits.
It is in your best interest to weight the benefits of other alternatives before you commit your child to a plan that won't cover him or her very well.
Your son or daughter should leave college with an education, and not just debt they are not in a position to pay.
Illnesses keep many students from getting their degrees.
It can also leave them with a huge financial burden if their insurance plan doesn't provide adequate benefits.
Many student health insurance contracts will limit what they pay for medical bills to $100,000 per year.
Standard plans will usually have a lifetime benefit, but no separate annual limit.
Most people not in medically related jobs underestimate the cost of health care.
The $100,000 limit would not be written into the plan if some percentage of their plan holders didn't reach and exceed that limit.
Student health care insurance contracts usually limit the lifetime benefit also.
Most standard plans do as well, however, the benefit caps can be much much higher.
Some standard medical insurance contracts have no lifetime limitations.
If the above weren't enough the limit on benefits is the limit on the amount of time a student is allowed to keep their coverage if she or he purchase one of the typical contracts offered through their college.
If a catastrophic health care event does happen, there may be lifetime medical issues.
Health insurance carriers call these preexisting conditions.
A major preexisting condition can affect your son's or daughter's ability to get coverage after they are no longer eligible for their student insurance plan.
There should be plans available to your student from major health insurance carriers that he or she can keep until their eligibility for Medicare.
Buying a student medical insurance policy because the price is a little lower can be a big mistake.
There are very affordable health care insurance contracts available for most young people that will not have any of the flaws mentioned above.
Be sure to weight the benefits of all your alternatives when you are offered student health care insurance from your child's college.
You should be able to find a health care insurance plan without the limitations on coverage mentioned above.
You should be able to find a health care insurance contract that has not separate annual limit.
You should be able to find a health insurance contract that your son or daughter can keep until he or she is eligible for Medicare.
However, these contracts will not cover your child as well as a typical private medical insurance plan.
The benefit limits written into these contracts can leave you with a bill you cannot afford to pay.
Since most students are young, affordable medical insurance is likely to be available for your child from a major insurance company at a low price.
You don't have to buy the bare bones policy from the university in order to get an inexpensive policy.
You may be able to get inexpensive coverage in the private market.
If your daughter or son goes to college in another state, you may have even more alternatives since you will have the option of using your home address or their home address on the application.
You may be able to keep your daughter or son on your group insurance.
Although policies marketed as student health insurance are often more affordable than other contracts, the relatively small price differential may not make up for the major difference in benefits.
It is in your best interest to weight the benefits of other alternatives before you commit your child to a plan that won't cover him or her very well.
Your son or daughter should leave college with an education, and not just debt they are not in a position to pay.
Illnesses keep many students from getting their degrees.
It can also leave them with a huge financial burden if their insurance plan doesn't provide adequate benefits.
Many student health insurance contracts will limit what they pay for medical bills to $100,000 per year.
Standard plans will usually have a lifetime benefit, but no separate annual limit.
Most people not in medically related jobs underestimate the cost of health care.
The $100,000 limit would not be written into the plan if some percentage of their plan holders didn't reach and exceed that limit.
Student health care insurance contracts usually limit the lifetime benefit also.
Most standard plans do as well, however, the benefit caps can be much much higher.
Some standard medical insurance contracts have no lifetime limitations.
If the above weren't enough the limit on benefits is the limit on the amount of time a student is allowed to keep their coverage if she or he purchase one of the typical contracts offered through their college.
If a catastrophic health care event does happen, there may be lifetime medical issues.
Health insurance carriers call these preexisting conditions.
A major preexisting condition can affect your son's or daughter's ability to get coverage after they are no longer eligible for their student insurance plan.
There should be plans available to your student from major health insurance carriers that he or she can keep until their eligibility for Medicare.
Buying a student medical insurance policy because the price is a little lower can be a big mistake.
There are very affordable health care insurance contracts available for most young people that will not have any of the flaws mentioned above.
Be sure to weight the benefits of all your alternatives when you are offered student health care insurance from your child's college.
You should be able to find a health care insurance plan without the limitations on coverage mentioned above.
You should be able to find a health care insurance contract that has not separate annual limit.
You should be able to find a health insurance contract that your son or daughter can keep until he or she is eligible for Medicare.
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