Off To College? Know Your Student Health Insurance Options

Though a majority of colleges require some kind of health plan and offer student health insurance 20% of college students between the ages of 18 and 23 are uninsured according to USA Today. But student health insurance goes beyond flu shots and doctors visits. It can minimize damage to your wallet and even potentially save you from bankruptcy in the case of an unanticipated injury or mishap. The best part? You have a number of choices for affordable health insurance . As a college-going student, here are your options to get covered.

1. School-sponsored student health insurance

College-provided healthcare is a cost-effective, and usually tends to be adept at immunizations and viruses with relatively low premiums. However, the plans can sometimes provide limited major medical coverage and a limited array of benefits. Also, the plans may not be as effective away from the campus health center. It is essential to know the specifics of your school’s plan before deciding if it is right for you.

2. Your parents’ plan

Thanks to healthcare reform, children can stay on their parents’ plan until the age of 26. Typically, these plans provide the most comprehensive coverage, and children cannot be excluded due to preexisting conditions. However, some employer-provided plans are going to wait until 2011 to re-enroll students.

3. Individual health plans

As robust young adults, college students will typically find relatively low premiums with a wider range of options than a school-sponsored plan would offer. Some providers even target students who do not yet qualify for their parents’ plan and find themselves unhappy with their school’s plans. Services like GetInsured.com are ideal for finding a suitable individual non-group health plan. However, students with chronic illnesses or preexisting conditions are unlikely to find affordable individual health insurance until 2014.

4. Government-provided plans

Programs like Medicaid are ideal for low-income uninsured students. Those with preexisting conditions may also qualify for high-risk pools, which are state-funded.

On a last note, if you can’t get a major medical health plan due to preexisting conditions, income, etc., or you choose to be covered by your school’s student health insurance plan, you should look into inexpensive accident medical plans to cover major injuries. College plans typically have high deductibles for ER visits and surgeries, so AME coverage would be the ideal supplement.

Now that you know your options, make sure you’re covered for fall – and get those flu shots while you’re at it!