Buying student health insurance

Health insurance enrollment for 2020 can begin next week, which has me shopping insurance soon. We own a small business and get a local plan. DS goes to school far away and his school requires students to meet standards that ours doesn’t, so we have been purchasing their plan. Cost is the same but benefits are much better. In 2018 our son earned enough income that we no longer claim him on our taxes even though he is only 20. Since he is “independent” of us, do you think we should shop the health insurance marketplace to possibly get him a subsidized plan that his college approves (silver or better). Also what state do we get insurance in - our home state or where he studies? He likely won’t come to our state next summer because he will have an internship at his own school or elsewhere.

He would get the insurance in the state where he is a resident, be it your home state or his college state (registered car? voting registration? driver’s license?). If he gets it in your home state, his college might not accept it for the same reasons it didn’t accept yours.

Did he make enough to qualify for the subsidized plans? I think it is 125% of the poverty level? something like $20k.

He provided half of his own support? ? There’s no income limit for a child who’s a full-time student.

This is always a tough one. With many health plans offering limited regional in-plan networks there is more to consider than just cost for student health insurance.

Among factors to consider is whether the student has any special health issues, or a higher than average likely hood of injury (athlete), and how far the school is from your home.

For example, our son was not a varsity athlete, had no particular health issues, and the school was a 90 minute (on a good traffic day) drive away from home, so we kept him on the family plan, and were fine with it. If we were significantly further away, we probably would have gone with the school plan.

For one of his friends, with everything the same except for football, his parents chose to keep him on the family plan + also purchase health insurance through the school to make sure that there were no issues regarding coverage for injuries or follow up care over the summer at home.

A third one of his friends had a chronic illness. Her parents also chose to buy the school plan in addition to the home family plan.

I also know a few families with children at very distant schools, with more than one child who kept the away-at-school child on the family plan while also buying the school plan simply because the premiums for the family plan was based on “1 or more” children so there was no financial advantage to removing the child from the home family plan

OP here - he made over $20K so filed on his own and has no health issues or high risk activities. He graduates in December 2020 so will have to figure out health insurance soon anyway. Thanks for your inputs - il shop in his home state for him and compare it to his student plan.

So he’s not a dependent for tax purposes but he is not yet legally “independent” as yet, right? That happens at age 24. The point here seems to be that the school does not view your family plan (which he could stay on until age 26)as inadequate. Does your plan meet Affordable Care Act requirements? I am more concerned about you! You can compare costs between the schools plan andddddd the marketplace plan, but that leaves you with the inadequate plan. And what will he do after he graduates, for health insurance?

@threebeans

We purchase our insurance on the individual market because neither H or I get health insurance benefits through work.

Kid 1 went to college downstate. Although she was in-state, she was out of area for our HMO at home. Moving is a qualifying event (allowing one to change insurance plans outside of open enrollment) and this applies to college students.

We looked at plans offered in the county downstate where her school was located, and ended up going with a bare bones plan offered through her university.

When summer rolled around, we re-enrolled her in the HMO at “home”. When she moved out east for a job, she then enrolled there. Again, moving allowed her to enroll outside of open enrollment.

Kid 2 went/goes to college out of state & would not be covered by our HMO. We looked into health plans offered in that county in that state, and the best deal was the comprehensive health plan offered through her university. Unlike Kid 1, this plan is not bare bones. She gets coverage for both semesters, breaks, and summer. She has her life there now and only comes home to visit.

I don’t know about how subsidies would work or not work for that age group, full time student, etc.

My experience with the individual market is to call 2-3 times and ask 2-3 different customer service reps. I’ve learned, the hard way, that the information given is not always accurate. Looking at you, Blue Cross Blue Shield of Illinois.

Hope that helps, and good luck!