Health insurance might not be at the forefront of a young student’s mind, but it’s a crucial consideration. As a college student, having coverage is vital in case of emergencies to prevent accruing more debt.
Young adults have a higher percentage of uninsured individuals, with around 30% lacking health insurance, leaving them vulnerable to medical expenses.
The cost of medical treatments can be substantial. For instance, fixing a broken limb could cost $7,500, while a three-day hospital stay could reach $30,000. Without insurance, these expenses fall on you.
While in college, there are several health insurance options available, including coverage through parents’ plans or school-provided insurance. If neither is accessible, you can seek coverage independently.
This article provides an extensive list of the best health insurance options for college students:
Table of Contents:
- What Is Student Health Insurance?
- Insurance Options for Students
- Cost of College Student Health Insurance
- Best Health Insurance Options for College Students:
- School-provided insurance
- IMG
- Everest
- Tokio Marine HCC Medical Insurance Services
- Pivot
- Blue Cross Blue Shield
- Aetna
- Cigna
- FAQs on Student Health Insurance
- References
What Is Student Health Insurance? Student health insurance involves paying a monthly premium to a company in exchange for coverage of medical expenses such as doctor visits, prescriptions, and hospital stays. Despite the perception that young students are generally healthy, a significant number have chronic health issues and difficulty paying medical bills. Having health insurance provides crucial financial protection.
Insurance Options for Students There are various insurance options for college students:
- School-provided plans: Many colleges offer insurance plans to students.
- Health Insurance Marketplace: You can enroll in plans through Healthcare.gov, potentially with subsidies.
- Medicaid: Eligibility depends on income and location.
- Private insurance plans: Some private insurance companies offer plans that can provide coverage for accidents and illnesses.
Cost of College Student Health Insurance The cost of health insurance for college students varies based on income, state, and student status. School-provided plans generally range from $1,500 to $2,500 annually. Plans from the Health Insurance Marketplace have different tiers and deductibles, with potential subsidies.
Best Health Insurance Options for College Students:
- School-provided insurance: Typically cost-effective, often covering on-campus clinics. Limited customization and network options may apply.
- IMG: Offers international students customizable plans with high maximum limits, prescription coverage, and additional options.
- Everest: Provides short-term insurance with flexible deductibles and coverage periods. Limited coverage for pre-existing conditions.
- Tokio Marine HCC Medical Insurance Services: Offers affordable plans for visiting students with coverage options and riders.
- Pivot: Ideal for short-term coverage, offering telehealth services and customizable deductible and coinsurance options.
- Blue Cross Blue Shield: Provides comprehensive plans through partnerships with states and schools, offering extensive coverage options.
- Aetna: Offers low-cost catastrophic plans for budget-conscious students, covering critical emergencies.
- Cigna: Offers customizable plans with various coverage levels, including preventative care and telemedicine services.
FAQs on Student Health Insurance:
- What Is Student Health Insurance? Student health insurance involves paying a monthly premium to a company in exchange for coverage of medical expenses.
- Can College Students Use Their Parents’ Insurance? Yes, students can stay on their parents’ insurance until age 26 under the Affordable Care Act.
It’s crucial for college students to consider health insurance options to safeguard their well-being and finances during their academic journey.
