Finding Affordable Health Coverage for Students
For college students, navigating the world of health insurance can be daunting. Health insurance may not be a financially viable option for college students, but there are other ways to get coverage, depending on your circumstances. It's important for college students to have health insurance, as being covered can financially protect you in case of unforeseen medical expenses. This article explores options for cheap student health cover, including student health plans, options for working students, and more.
Understanding the Need for Health Insurance
Even if you’re young and healthy, carrying health insurance coverage is still smart. Going without coverage can result in substantial financial costs in case of a serious illness or accident. Even a low-cost insurance plan can buffer overwhelming medical bills. If you suddenly get into an accident or experience an illness, you won’t have to pay the entire bill out of pocket.
Options for Obtaining Health Insurance
If you’re a college or graduate student, you may be able to get coverage through your parent’s health insurance plan or through the school.
Staying on a Parent's Plan
If your parents have health insurance, it may be cost-effective to stay on their plan - especially if you don’t have employer-based health insurance. Under the Affordable Care Act (ACA), young adults can typically remain on their parents' health insurance plans until they turn 26. However, remember that you may get kicked off the policy once you turn 26, but this can depend on your state and plan.
Student Health Insurance Plans
Some colleges and universities offer a student health plan, a special policy available to enrolled students. College health insurance plans are available at some institutions at an affordable rate. This depends on the school you are attending and what they have to offer. Annual costs can range from $2,000 to $4,000. Many schools also offer health insurance options to graduate students.
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Most university plans are regulated by the Affordable Care Act, so they cover essential health benefits and have no annual or lifetime benefit maximums. Student plans come with added benefits because they’re designed with students in mind. Lower rates are possible partly because they’re based on a younger, healthier population and provide coverage for a limited time (just while they’re in school).
Employer-Based Health Insurance
You may be able to find employer-based health insurance once you get out of college or if you work while you’re still enrolled. Your employer can entirely finance the insurance or you may pay a small portion. Either way, getting employer-based health insurance is often cheaper than getting an individual plan.
Spouse's Health Insurance
If you are married and your spouse has employer-based health insurance, you may be able to enroll in it. However, some organizations have their own enrollment periods. Additionally, you may need to pay an additional premium for the policy, depending on the employer.
Health Insurance Marketplace
Each state offers a health insurance exchange for college or graduate students unable to get insurance through work or their parents. Even if you have access to a student health plan, you can still apply for coverage through the Marketplace. Based on your income, family size, and location, you might qualify for lower costs.
Medicaid
College students who live independently, file their own taxes, and meet the income requirements for Medicaid may be eligible for Medicaid coverage.
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Affordable Health Insurance Providers
Based on MoneyGeek’s analysis, Blue Cross Blue Shield is the best health insurance for college students. For the best overall, only one provider met our state presence qualifications - Blue Cross Blue Shield. The company’s plans are widely accepted by physicians nationwide and are available in all 50 states. For college students, BCBS offers affordable and comprehensive health insurance plans that cater to their unique needs, providing access to preventive care, medical treatments and mental health services. BCBS also has a range of member discounts through Blue365. College students can save on products and services that can help improve their health, such as discounts on gym memberships, fitness devices and more.
Ambetter is a subsidiary of Centene Corporation, one of the largest managed care organizations in the United States. Its health insurance policies for college students cost an average of $358 per month, with an average MOOP of $3,383. It’s a good choice for working college students seeking a balanced mix of cost, coverage and quality customer service. Aside from offering your standard metal-tier plans, Ambetter also has specific plans for low-income individuals, such as their Ambetter Select and Ambetter Value. On top of affordable plans, Ambetter also offers a range of benefits. The company provides access to quality medical care, such as affordable dental and vision insurance, a pharmacy program, telehealth, care management services and more.
Understanding Different Plan Tiers
The type of health insurance plan you choose, such as HMO or PPO, and the metal level, such as Bronze or Gold, also determine your overall health insurance costs. Typically, HMO plans are less expensive than PPO plans and Bronze plans have cheaper premiums than Gold plans.
- Catastrophic: The Catastrophic tier is often the cheapest option on the Marketplace. However, Catastrophic plans come with downsides. For one, they’re not available everywhere and have an age limit of 30. Additionally, the trade-off of affordability is a higher MOOP. If you get into an accident, you’ll have to shell out more money before your insurance kicks in.
- Bronze: Bronze is the cheapest metal tier available in all states - however, the trade-off is higher out-of-pocket costs.
- Expanded Bronze: Some states may also have Expanded Bronze plans, which fall in between Bronze and Silver and have more coverage than Bronze plans and slightly lower MOOPs, but slightly higher premiums.
- Silver: Working students who are not eligible for employer-based insurance may still be able to receive cost-sharing reductions (CSRs) on a Silver plan. In this category, MoneyGeek only considered plans with CSRs, as it provides additional financial assistance for low-to-moderate-income individuals. However, in states with Medicaid Expansion, the eligibility for CSRs requires income between 138% ($18,754 for a one-person household) and 250% ($27,180) of the poverty level.
- Gold and Platinum: These plans offer more comprehensive coverage but come with higher premiums.
Short-Term Health Insurance
Short-term health insurance can bridge the gap between one full health insurance policy and another. Note that the ACA Essential Health Benefits do not bind short-term plans, so your coverage may be limited. Additionally, short-term health insurance providers can reject you based on your health conditions. Short-term plans can be helpful between the end of a parent's plan and the start of a new job, or between jobs if you need coverage.
International Student Health Insurance
ISI is the leader in reliable and affordable international student insurance plans, with a 5-Star customer service rating. Comprehensive but affordable, international student health insurance plans are designed to meet visa requirements and provide key coverage that schools want, like mental health, sports and maternity. ISI offers a variety of adjustable insurance plans that meet your school requirements as well as government requirements. Our plans cover exactly what you need, anywhere in the USA, with our nationwide networks of doctors and hospitals. Finding a doctor in your area is very simple with online access and direct billing.
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ISI is the world's largest international student insurance manager. We offer dedicated health insurance plans for F1 visa international students, J1 visa scholars and students, F1-OPT holders and F2/J2 dependents. ISO stands for International Student Organization, the world’s largest international student insurance manager. ISO insurance plans are designed to meet the specific needs of your school’s waiver requirements or visa status at an affordable rate.
ISI's multilingual customer service team is focused on helping international students find the right insurance and thrive abroad.
The Impact of Age on Health Insurance Costs
In college, health insurance costs are at their lowest. As you age, the average cost of health insurance for you is likely to rise. Once you are 65, you may qualify for Medicare. Before that, however, you can turn to other options for more affordable insurance.
Navigating International Student Insurance with ISI
ISI is the leader in reliable and affordable international student insurance plans, boasting a 5-Star customer service rating. These plans are not only comprehensive and affordable but also meticulously designed to meet visa requirements and provide essential coverage that schools prioritize, including mental health support, sports-related coverage, and maternity benefits. For international students on OPT, ISI offers tailored health insurance plans with rates starting as low as $29 per month.
The priority at ISI is ensuring peace of mind for international students. Their multilingual customer service team is dedicated to assisting students in finding the right insurance solutions and helping them thrive during their studies abroad.
Customer Service Excellence
Testimonials highlight the exceptional customer service provided by ISI representatives:
- Megan: Praised for great customer service and quick issue resolution.
- Dafne: Recognized for assisting customers throughout the entire process.
- Laura: Commended for quickly understanding and resolving concerns.
- Mikayla: Made the insurance buying process stress-free and easy to understand.
- Debra: Appreciated for patiently explaining policy differences.
- Joss: Noted for clear and efficient answers to all questions.
- Grace: Recognized for professionalism and speed in obtaining insurance at a good rate.
- Paola: Thanked for assistance during calls.
Customers consistently express satisfaction with the agents' patience, knowledge, and willingness to ensure they are fully satisfied with their insurance choices.
Resources and Support
ISI provides a comprehensive resource center, a one-stop shop for information about the company, insurance plans, and various aspects of international student life. They specialize in supporting international students, offering a wide range of tailored resources. ISI can also assist schools and organizations in creating customized group programs.
Aetna's Approach to Clinical Policy
Aetna Clinical Policy Bulletins (CPBs) are designed to aid in administering plan benefits but should not be considered medical advice. Treating providers bear the sole responsibility for medical advice and member treatment. Members are encouraged to discuss any CPB related to their coverage or condition with their treating provider.
These CPBs reflect Aetna's assessment of whether specific services or supplies are medically necessary, experimental, investigational, unproven, or cosmetic, based on a review of current clinical information and evidence-based guidelines.
Aetna retains the right to revise these conclusions as clinical information evolves and welcomes further relevant information.
Aetna's Coverage and Payment Policies
Each benefit plan outlines covered services, exclusions, and any applicable limits. Members and providers should consult the member's benefit plan to ascertain any relevant exclusions or limitations. The determination that a service or supply is medically necessary does not guarantee coverage, as the member's benefit plan ultimately determines coverage.
Aetna's CPBs are regularly updated and subject to change. They are intended for use by professional staff in making clinical determinations related to coverage decisions. Members are advised to review these bulletins with their providers for a comprehensive understanding of Aetna's policies.
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