Being a student puts you in a unique situation for purchasing health insurance. You may discover options that are very costly and not suited to your needs. That's why most schools make it possible for you to obtain health insurance through an endorsed student health insurance plan.
In general, enrollment periods are specific to your academic schedule. Enrollment requirements do not depend on age, but on student eligibility status as determined by your school. Coverage is typically continuous during your academic career, 24 hours a day, often anywhere in the world—summer break included.
The cost of a student health insurance plan is typically only about one-third the cost of an employer insurance plan or individual coverage. Most student health insurance plans coordinate care with each campus and its local community providers to ensure access to the best medical care. Spouse and dependent coverage is available at most schools.
Read your policy!
What Student Medical Insurance Is Not
Generally, student medical health insurance is a great deal for students... and only for students (and their dependents). Insurers can offer such low rates because the student population tends to be young and in good health. Once you graduate, you're on your own. There are some alumni plans at some schools. In seeking employment be sure to ask about group health benefits when you interview for employment, and—if none is forthcoming—leave room in your budget for a Personal Health Insurance Policy.
Who Needs Student Medical Insurance?
Check with your parents' plan, as recent changes to the laws have included carriers to insure student dependents until age 26. When planning for their children's education, many parents find that the cost of university-sponsored student health plans proves an attractive alternative to the family health package. Although student plans can be restrictive in terms of which providers fall within their network, quite often the cost savings far outweighs any reduction in provider options.
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