College health insurance alternative

Student Lounge College Life
1

Hello,

is there any plan we can use instead of the one the college offers to save on costs? Is there any other alternative? I’ll be a freshman in fall 2017. The plan college offers is almost 2500.

thanks

2

Your first step is to understand what you can and can’t do with regard to health insurance as a student at your new school. Colleges that require students to carry health insurance usually have an option to opt out IF the student has a plan that covers all of the things that the school’s plan does; there may be some geographical constraints as well. The school website should have info on their plan and what the steps are to opt out, if it’s an option. You will most surely have a deadline to do this and have to provide proof of coverage under a qualifying plan.

FYI - $2,500 for a school year sounds in the ballpark if it covers medical, dental and vision. We did the math and the school plan, while $50.00 more than the total of the what it cost to cover our D, was MUCH richer in benefits; we moved her to the school plan as a consequence (dependent for health on my husband’s self-insured plan; dental and vision on my company-sponsored plan). If you are not or cannot be covered by your parent’s plan, your only other option is to become self insured. I have no idea what basic “catastrophic” plans are costing in this age of ACA (or post-ACA - who knows what changes will come down the road), but insuring yourself tends to be pricy.

3

If you have proof of insurance that meets the University’s standards and submit proof to them by the deadline, with SOME universities you can avoid having to the coverage offered by the university. We did that for our kids when they were covered by our family insurance plan. We only had to buy insurance when our son aged out because he was turning 22 (before the ACA became effective and required coverage until age 26).

Check with your university to see what insurance and proof they require. Also check with your folks to see if you are covered by a qualifying family plan. Get the proof to the U before their deadline.