The Best Health Insurance for Graduate Students

Despite the youthful health advantage of most college students, health insurance remains an important asset to ensure access to quality, affordable medical care throughout college and grad school. Because many graduate students are low on income, without a job, in student loan debt and have no access to an employer's group health insurance plan, they may have to seek out other affordable sources for health coverage.

Dependent Coverage

• The Affordable Care Act of 2010 reformed the American health care system, including standard health insurance industry practices that halted health benefits for children as they grew into adulthood. As of September 2010, adult children under age 26 can remain on their parents' health insurance policies as a dependent regardless of marital status, financial dependency or enrollment in a college or university. This means that many graduate students will qualify for coverage under a parent's policy and will not pay a higher premium as an adult dependent than the plan charges for a minor dependent.

Low Cost Insurance

• Graduate students who need access to low-cost, affordable health insurance may find adequate coverage through a high-deductible student insurance plan. For example, according eHealthInsurance.com, at the time of publication, a healthy, nonsmoking 25-year-old male enrolled full time in a college or university can purchase a health insurance policy with a $5,000 deductible and $40 office copay for $61 per month. Plans and premiums change often, but typically, the higher a policy's deductible is, the lower the premium will be.

Campus Insurance

• Many college campuses and graduate schools offer campus health insurance for full-time students and their dependents. For example, the University of Arizona offers a single major medical insurance option that includes access to emergency care anywhere in the world and access to primary care at the campus health center. Insurance availability and coverage benefits vary by school, but most universities house a low-cost campus health center for students without insurance coverage.

Considerations

• Though parts of the Affordable Care Act are already established, many laws do not become effective until January 2014. At that time, everyone -- including college students -- must have health insurance or else pay an annual tax penalty. However, most graduate students and other low- to middle-income Americans who purchase private health insurance policies will receive federal aid to help pay for insurance premiums. According to Healthcare.gov, those with household income between 100 and 400 percent of the federal poverty limit will qualify for significant tax credits to help alleviate the cost of premiums, while those with income below 100 percent of the federal poverty level may qualify for Medicaid.