Student Health Insurance Basics

Making sure you have adequate healthcare coverage before you start school is critical, though many full-time students neglect their coverage needs, usually for financial reasons. After all, going to school is expensive enough without compounding those expenses with an overpriced student health insurance policy. However, affordable student health plans are readily available from several sources, so quality coverage does not have to break your budget. In this post, we will tell you more about the basics of student health insurance and how to purchase a policy.

Do You Need Student Health Insurance?

Some students might not need private student health insurance because they already have coverage from another source. Here are some questions to ask in order to determine if you need to purchase a separate policy:

• Are you over the maximum age to be covered on your parents’ plan? Typically, most insurance policies will not cover you as a dependent after the age of 25. With some policies, the age limit for a dependent is 23.
• Are you outside of your parents’ HMO or PPO area? If you attend school out of state, your parents’ insurance might not be accepted by local providers.
• Does your school offer a college-sponsored plan? Most colleges offer student health insurance that is institution-specific. However, if your school requires coverage and you choose not to participate in this plan, you will need to purchase private student health insurance.

Who Qualifies for Student Health Insurance?

Qualification requirements for student health insurance will vary by provider. In general, anyone under the age of 30 who is enrolled full-time in an accredited institution will qualify for a student health plan. Full-time is usually defined as being enrolled for 9-12 credit hours, depending on your insurer. For schools that require coverage, anyone can opt into the school-sponsored health plan. College-sponsored plans are issued by health insurance companies that have contracted with a specific school to extend coverage to its students.

Limitations

Student health insurance generally has very limited benefits and more exclusions than conventional health insurance plans. In this regard, student health insurance is more like catastrophic health insurance, or insurance that is meant to cover major illnesses and accidents only. Student health insurance policies tend not to cover things like substance abuse and mental health. Moreover, student health plans usually do not cover prescription medications at all, including everything from antibiotics to birth control. Students should also be aware that most student health policies do not include routine dental and eye care, so these services must be paid for out of pocket.