College students are heading back to school for the 2011-2012 school year. This can be an exciting and stressful time for many students who try to organize their finances and figure out student health insurance coverage. Market Watch has a press release from eHealthInsurance which gives some important tips for college students and their parents. With student health care reform affecting many schools, this is great information to have.
First, do not wait until the last minute to consider the school health insurance plan. Many schools have a deadline and it’s often before school starts. You may end up missing the deadline before you even step foot on campus and miss out on a great health care deal. Next, shop around and consider other options besides staying on the parents’ policy. Many students are surprised to find great deals through their school and can end up saving a lot of money. The next tip which is very important is being sure to read the fine print and fully understand how the health insurance plan works. You want to consider coverages, deductibles and monthly premiums. A lot goes into a health insurance policy so it doesn’t hurt to have an expert go through options with you.
Next, consider non-school sponsored plans that are geared specifically towards students. These plans generally are very competitive and can be carried on past graduation depending on the way the policy is designed. These plans can be a great option for students going to school out of state and who will be traveling back and forth a lot. Finally, pay attention to when you turn 26 years old. Health care law enables students to stay on their parents’ health insurance policies, but only up until the age of 26. If you are over 26 or are turning 26 half way through the school year, be sure to have a back up plan in place so you aren’t left uninsured for any amount of time.
Following these few simple steps can help you have the best coverage possible. There is a good amount of information out there on student plans and it’s easy to be overwhelmed. Take your time sifting through all of the options and talk to your school about what they can offer.
Written by Sam Tabes
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