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Healthcare Insurance for Students

Finding affordable health care for students can be a daunting task. Students may be unable to pay the higher costs of individual health insurance, forcing them to remain uninsured. Fortunately, new laws passed in 2010 make it easier for students to remain on parental health insurance plans. Other affordable insurance outlets, including university-sponsored insurance plans, exist for students to take advantage of in finding coverage.

  1. Remain on Parent's Insurance

    • Passed in March 2010, the Affordable Care Act requires health insurance companies to extend coverage to a dependent under his parent's insurance plan up to age 26. This coverage extension can allow a dependent student to finish a four-year college degree and possibly a graduate-level degree without the burden of looking for individual health insurance. The student can also enjoy a higher level of protection under his parent's health insurance than he may otherwise be able to afford on his own.

    On-Campus Health Care

    • Many universities and colleges around the country provide health care for students in the form of free health clinics and the option to purchase a student health plan. According to "USA Today," as of August 2010 the average annual premium for student health insurance plans purchased through a university was about $850. These insurance plans provide low-cost coverage for everyday illnesses, including colds and the flu, but usually have low ceilings for more expensive medical events like broken bones or serious illnesses.

    Individual Health Plan

    • A private health insurer may have health plans specifically designed for students with lower monthly premiums and broader coverage than college-sponsored health plans. Annual premium costs for individual health plans are higher than college-sponsored health plans. As of August 2010, according to "USA Today," annual premiums for individual student plans with a private insurer cost as much as $1,848. Students may lower the annual premium by choosing higher deductibles and co-pays. This means higher out-of-pocket expenses when using health-plan benefits. Private insurers may also deny students coverage on the basis of a pre-existing medical condition that requires ongoing care.

    Catastrophic Injury Plans

    • Catastrophic injury health plans provide coverage for emergency medical situations requiring hospitalization. These plans don't have coverage for commonly occurring medical needs such as doctor's visits and prescription drug coverage. Students attending universities or colleges with free health clinics to handle the more mundane medical issues that may come up while attending school may want to purchase a catastrophic health plan to cover significant injuries suffered while at school. Annual premiums for these plans may be quite low since younger students represent a lower risk of illness and injury.

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