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Insurance issues when the kids go to college
What is student insurance?
Basic versus comprehensive
Medical leave
Upon graduation
U.S. citizens studying abroad
One of the things to add to the "getting ready for college" checklist is to determine whether the student will continue to have health insurance coverage through the parent's employer. Many insurance policies cover a son or daughter through age 21 or 22 if the teenager is enrolled full time in college. Not all of them do, however, so check with your health plan's member services department. Also check on how your child's marital status affects coverage.
Other situations may come up that might jeopardize coverage, including:
A son or daughter who is a year or two older when starting school and whose coverage will lapse while in college
A son or daughter who takes a year off after high school or during college, then resumes college
A son or daughter who marries while in college
What is student insurance?
Often, it's possible for college students to obtain medical coverage through their university or college directly, through a health care company the school contracts with or through an independent agent. These plans are often available to undergraduate, graduate and international students studying in the U.S. Even if a student is covered by a parent's plan, obtaining student insurance might be an ideal solution if the college is outside an HMO, POS or PPO network service area.
Coverage usually begins close to the start of the fall semester. There are also temporary plans available to cover the student until he or she starts school full-time.
If student insurance is obtained, then the student's insurance becomes the primary insurance and the parent's insurance is secondary. If the student has insurance through an employer, then that insurance is primary and the student insurance is secondary. Student plans may require students to seek medical care from the school's student health or medical center. Check the individual plan requirements.
If obtaining student insurance:
Make sure the plan provides coverage 12 months a year if the student needs that length of coverage. This way, they will be covered during breaks.
Check with the carrier about whether there are preferred providers students must see while away from campus.
Make sure the insurance plan is renewable.
See how changes in status such as from full-time to part-time student or from single to married affect coverage.
Basic versus comprehensive
Many student plans offer varying degrees of coverage. Students only can apply for basic coverage, while students with dependents must apply for comprehensive coverage.
Medical leave
If for any reason a student takes a medical leave, check with the college office that administers the plan on how to retain coverage during that time.
Upon graduation
Most student insurance plans end at graduation, but there may be additional insurance available through the same carrier for students. As there are often waiting periods for coverage of pre-existing conditions, it may be necessary for a student to hold two policies to ensure no break in coverage.
U.S. citizens studying abroad
If study will occur abroad, students should acquaint themselves with the health and immunization requirements required well in advance of traveling overseas. Students need to be sure they have adequate health insurance and understand their policy, especially what is and isn't covered outside the U.S., including how bills are paid, what happens in the case of a medical emergency and how routine treatments are handled.
“If your current insurance broker hasn’t talked to you about a Health Savings Account yet, why not talk to us?”
Call: 908.232.9244