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Student Health Insurance Plan
When it's time for your child to move out of the house and go to college, there are a few things you need to take into consideration. Even if your child rarely gets sick, when they go away to school, they will need protection from illness and injury. In this article, you'll learn about some of the options that you and your child have when it comes to a student health insurance plan.
The first and most obvious choice is to keep them on your current health insurance plan. With all the choices available today, a child can stay on the plan their parents have, up until the age of 25, even if they no longer live at home. Keeping your college student on your policy is the most efficient way to have a student health insurance plan in place. Talk to your insurance provider to see if you are eligible to keep your college-bound child on your policy.
For parents of children over 25 who are still in college, keeping the child on the policy is not a truly viable option. For these situations, there is COBRA (Consolidated Omnibus Budget Reconciliation Act) coverage. COBRA allows the child to remain on the parent's plan for a limited time. Check with your insurance company to see if your child can use COBRA to remain on your health insurance plan.
If your child is going away to school for a short time before heading off to work, then a short term student health insurance policy may be your best option. Short term health insurance is ideal for students who cannot remain on their parent's plan with COBRA, and who will be eligible for employee benefits after a certain amount of time at a new job. When signing up for a short term health insurance plan, choose one that has a high deductible for the lowest possible premium.
Another option is the campus-based student health insurance program. These plans offer great access to routine health care and treatment for certain pre-existing conditions, at a lower-than-average price. However, these plans offer almost no access to off-campus health care, and most major treatments require a referral. Most school-provided student health insurance plans provide a low maximum, meaning that they are not sufficient coverage for severe injury or illness.
These are some of your main options when choosing health insurance for your college student. If you choose carefully, it is possible to find a health plan for your child that provides the right amount of coverage at a price you can afford to pay.