3 Questions to Help Sort Student Health Coverage Choices
By: The Associated Press (NY Times) May 2015
A key question remains for many students who’ve finally settled on a college destination: How will they or their parents handle health care coverage?
A doctor’s office visit can cost over $100 for someone without insurance. A car accident that turns into a short hospital day can quickly bury a student and his or her parents in more than $30,000 in debt. Plus those who skip coverage may face a penalty under the federal health care overhaul.
Brokers say students heading off to school in the fall can finalize their insurance plans as late as July or August. But they should start thinking about their needs long before they begin packing for a dorm.
1 — WILL THE CURRENT PLAN WORK?
Health insurance coverage comes more frequently now with a narrow network of doctors and other care providers. Patients who venture beyond those networks for care may be stuck with 50 percent of the bill or more after paying a deductible. In some cases, their plan might cover nothing.
Check with your insurer on your plan’s network or at least see if it offers a ZIP code search on its website to show how far that network extends.
Learn whether your plan’s network includes the main hospitals and some doctors in the college town. If it doesn’t, find out what out-of-network care would cost and how emergency care might be covered.
An independent health insurance broker may be helpful in sorting this out. Don’t assume care will be covered.
“That is sort of the kiss of death when it comes to health insurance,” said Nate Purpura, director of consumer communications for the online insurance marketplace eHealth.
2 — WHAT DOES THE COLLEGE OFFER?
Many schools provide access to a campus health station for a fee. That may be worth considering as a supplement to coverage a student may bring from home, said Craig Gussin, an independent broker based in San Diego.
That way, the student has a place to go on campus if a sinus infection crops up but can save major care for home in between semesters. That may be a good choice for students who will remain covered under a parent’s health insurance plan.
Some schools also offer health insurance coverage. Anyone considering that should make sure that the plan complies with minimum requirements laid out by the overhaul. That means the plan covers conditions that existed before the insurance began and it doesn’t cap annual benefits, among other things.
People who don’t have coverage that meets these minimum requirements may have to pay a fine for remaining uninsured.
3 — WHAT ARE SOME OTHER CHOICES?
There are several ways students can buy their own insurance plan that covers them while at school. Those who work during the semester may find coverage through an employer.
If a student is independent from his or her parents and has little or no income, Medicaid may be an option. The program is geared toward covering the poor, but it can be hard finding doctors who accept it.
A short-term insurance plan offers some protection against huge medical expenses, but the coverage is not as thorough as what a person might get through an employer or find on the overhaul’s public insurance exchanges. These plans also may not meet minimum coverage requirements.
Students who are independent from their parents may qualify for income-based subsidies to help buy a more thorough plan, if they don’t have access to affordable coverage through an employer.
Brokers can help students find an individual insurance plan. EHealth says customers ages 18 to 24 without access to help from a subsidy paid, on average, about $161 a month for a plan with a deductible topping $4,800. Such coverage protects against huge bills but leaves smaller expenses to the patient.
Categories
- Benefits Resources
- Bonding
- BOP
- Business Insurance
- Commercial Auto
- Commercial Property
- Company News
- Construction
- Crime Insurance
- Cyber Insurance
- Directors & Officers
- Employee Benefits
- Employment Practice Liability Insurance
- Entertainment
- General Liability
- Health Insurance
- Healthcare
- Healthcare Reform
- Homeowners Insurance
- Hospitality
- Manufacturing
- Medical Malpractice
- Mining & Energy
- Nightclubs
- Personal Auto
- Personal Insurance
- Professional
- Restaurants
- Retail & Wholesale
- Risk Management Resources
- Safety Topics
- SBA Bonds
- Security
- Seminars
- Technology
- Tourism
- Transportation
- Uncategorized
- Workers Compensation
Archives
- May 2021
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- November 2018
- September 2018
- August 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- October 2016
- September 2016
- August 2016
- July 2016
- June 2016
- May 2016
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- February 2013
- November 2011
- October 2011
- September 2011
- July 2011
- June 2011
- March 2011
- November 2010
- October 2010
- September 2010
- April 2010
- February 2010
- November 2009
- October 2009
- November 2008
- August 2008