What You Know to Know about Student Health Insurance

Health insurance costs continue to rise and whether you’re a college student or a senior citizen, having health insurance coverage has become a necessity. Most college students have never had to deal with health insurance coverage before because they’ve been covered under their parents’ policy. If you’re a novice to student health insurance coverage, here’s what you need to know to make the right choice in health insurance policies.

Benefits

The benefits of a health insurance policy vary from insurance provider to insurance provider and even from policy to policy under the same provider. It’s important to break down each coverage option of the policy you are considering because some policies contain items you do not need, which means you’re paying for coverage that is going to go to waste. For example, if you’re a male and the policy you’re paying for contains maternity coverage, then you’re paying for something that you’re never going to use. On the other hand, some policies do not contain benefits that you do need, so it’s imperative that you understand what is and what isn’t covered by the policy you’re considering.

Some of the benefits you need to consider when comparing policies:
• The maximum amount of coverage the policy provides
• Deductible amount
• What is not covered under the policy (i.e., intramural sports injuries)
• Restrictions on choice of doctors
• Requirements (i.e., referral) for specialist care
• Travel coverage
• Ability to see a doctor without insurance company approval
• Undergraduate and graduate coverage restrictions
• Wellness visits to the doctor are covered or it’s only emergency coverage

Rates

The benefits contained in a health insurance policy directly relates to the cost of the policy. The more benefits a policy contains typically the higher the cost of the policy. When comparing policies make sure you understand the costs involved in establishing and maintaining the policy. It’s about more than the monthly premium you pay. You also need to understand the policy deductibles and co-pays (co-payments) because this determines the total amount of money you’re out-of-pocket when visiting the doctor or hospital.

The Need for Health Insurance

Most college campuses provide a health clinic for students to use at a reduced rate, but the quality of care from these clinics is not typically up to par with private doctors. These clinics are also not equipped to deal with every illness and disease. Since college campuses are a hotbed of germs and diseases, it’s wise to have a health insurance plan that is separate from on-campus health services, so you can practice preventative care, as well as deal with any illness or disease you acquire.

Shopping for student health insurance coverage is a major purchase that requires you to understand how the benefits of having it exceed the costs of having it. Health insurance is also an item that requires you to comparison shop to ensure you’re establishing the policy that is the most beneficial to you financially and to your health.