Health Insurance coverage is an admission requirement at most colleges and universities in the US. To help students, most schools offer a group health plan, which the students can participate in if they can pay the monthly premiums. These plans are usually comprehensive and offer the student’s good health insurance protection. But they can sometimes cost more than a student’s budget can afford. Usually the schools will allow the student’s to have their own health insurance coverage, if it is at least as good as the schools plan. This makes it possible for students to find more affordable health insurance plans.
The first thing you need to do if you are trying to save money on student health insurance is to find out the requirements for your college. This will ensure that you are being quoted on the proper amount of coverage. It will also ensure that you are not wasting time looking for your own individual policy when your college requires that you carry theirs. If your school does allow you to purchase your own student health insurance, find out more about the clinic on campus if there is one. Can you use it if you don’t have the college’s specific insurance? Plans that have clinics in their preferred network of providers, would be good options.
Student health insurance provided by colleges is basically the same as group insurance from an employer. It is a group policy, with everyone paying the same rate regardless of health and history. What this means is that even if you are very healthy and rarely see a doctor, you will pay the same amount as someone who has chronic health problems and needs continual healthcare. Healthy students who have the option of carrying their own individual student health insurance will often be able to save money because they will not be subsidizing healthcare for less healthy students.
By choosing to carry your own student health insurance you may also be able to save yourself additional money by tailoring your policy to your needs. If you are only concerned with insuring yourself in case of major illness or injury, you can get a policy which is designed to do just that. These plans are usually a bargin. You can also opt to raise co-insurance percentages, co-payments and deductibles for a lower monthly premium. You can choose to opt out of coverage you may not need often like dental, vision and prescription coverage. Now, more than ever, there are many discount providers who can provide these services at very low prices. Before making these changes, be sure to check on the health insurance requirements for your school to make sure you meet the minimum levels.
American colleges offer health insurance for the good of their students and campus as a whole. It is a very convenient option, but not one that works best for every single student. If you are one of those who feel that the student health insurance plan at your school is not for you or you would like to save money on insurance, you have many other student health insurance options available to you.