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Student Insurance Guide

College students don't have to go without health insurance due to a lack of affordability or lack of necessity. According to a 2009 survey conducted by Columbia University for The Commonwealth Fund, approximately 30 percent of college students and adults ages 18 to 29 have no health insurance. The Affordable Care Act, as well as options available through communities, provide students with several health coverage options.

  1. The Affordable Care Act

    • In March 2010, President Obama signed the Affordable Care Act. Under the health reform law, everyone will be required to carry health insurance by 2014, or else pay an annual fee. The fee starts at the greater of $95 per person or one percent of yearly income, and will grow in 2016 to the greater of $695 per person or 2.5 percent of household income. Low-income and middle-class policyholders, including students, will have access to significant tax rebates to make health insurance premiums more affordable.

    Options

    • Students have more health insurance options open to them than any other age group. Low-income students can qualify for Medicaid, while employed students may be eligible for employer-based health insurance. Additionally, many universities offer discounted health insurance plans, and the Affordable Care Act makes it possible for students and adults up to age 26 to remain on their parents' health care plans, regardless of income or marital status.

    Coverage

    • Not all health insurance plans are created equal. The plan with the most affordable premium may not be the most affordable overall. Students with restricted income may benefit from a lower premium and higher deductible, while those with a history of medical issues should opt for a more comprehensive health insurance plan with a lower out-of-pocket cost for care.

    Considerations

    • Students with no history of health problems may be eligible for the lowest health insurance premiums in the private market. In order to keep costs low, students should lead a healthy lifestyle by maintaining a healthy weight and abstaining from drugs and tobacco. Furthermore, many college campuses and cities offer low-cost health clinics that feature non-emergency health care free or at a reduced cost to students. Health care prices at these clinics are usually based on the patient's income.

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