Student Health Insurance Types

Student Health Insurance Types

Every year in May and June, millions of families with graduating high school and college students find that they must replace their student’s health insurance because they are no longer covered by their family or school-sponsored plans. Here is a summary of the various types of student insurance and tips to help get the most from each type of plan. Usually students use three types of health insurance: 1) parent's health plans (usually employer-provided), 2) college-sponsored plans designed for on-campus health care, and 3) commercial student health insurance. Very often a student is covered more than one health plan so that the coverage overlaps. Review the chart below to find out the advantages and disadvantages of each type of health plan.      Parent's Health Plan   College Health Plan   Commercial Student Health Plan  Advantages  No enrollment action required. Little additional cost to parent. Good coverage at home. Easiest for students to access on-campus care for routine health care. Includes some coverage for pre-existing conditions. Minimal out-of-pocket expense. Low cost. National or international coverage. Any medical provider may be used. Fastest policy issue, online enrollment allowed; payment can be month-to-month. May be continued after leaving school. Disadvantages  Limited number of medical providers at location of the college. May terminate at age 21 or 23 before student finishes graduate school. Limited coverage outside of the U.S.  Limited providers outside of the location of the college. Referral required for major care. Limited maximum coverage is not adequate to protect from a catastrophic medical expense. No coverage outside of the U.S.  Higher out-of-pocket expenses due to policy deductible. Does not cover eye care or dental.