Why Student Health Insurance
The primary purpose of student health insurance is to keep students in school so they can graduate and realize their professional and career dreams. First Student’s student injury and sickness plans are designed to meet the needs of our client schools and their students and most plans are tailored around a school’s Student Health Center.
Think keeping your child on your current employer-provided insurance is the best option? You may find it doesn’t provide adequate coverage for your student. For instance, if your student is attending an out-of-state school, your employer-provided PPO may consider the health care providers in that state out-of-network, which will increase your out-of-pocket costs. An HMO plan may consider those same providers as being out of their service area.
Why Student Health Insurance May Cost Less
The student plan may also be less expensive than using your employer’s plan. According to a recent survey,* employees are paying over $100 more per month for health care than they did three years ago. And 40% of companies surveyed have increased employee contributions for dependent coverage, with nearly 20% more saying they plan to do that in the following year.
Thanks to students being a typically healthier group, the student plan may have lower deductibles and out-of-pocket expenses than your employer plan.
Because this plan is tailored to students, it’s geared to work hand-in-hand with the Student Health Center if the campus has one. Employer-provided coverage may view the Student Health Center as an out-of-network provider.
The advantages of student health insurance make them an affordable, quality alternative to more expensive, traditional plans.
To review the student health insurance available at your student’s school, use the Find My School’s Plan box at the right. Should you decide to enroll your student, our easy online enrollment takes only minutes to complete!\
Should you waive your student’s participation in the school plan?
Your student’s health plan options have broadened with the implementation of healthcare reform (ACA). Deciding which option is best for your situation can be confusing.
Your school may have a health insurance requirement for its students. You may be able to waive out of that requirement if your student has health insurance coverage from another source. Typically, the benefits of that coverage need to match the school’s minimum coverage criteria.
If your student is currently covered by another health plan, and you’ve determined that the benefits and premium cost are appropriate, simply have your student follow the directions provided by your student’s school to complete and submit a waiver request.
* 19th Annual Towers Watson/National Business Group on Health Employer Survey on Purchasing Value in Health Care: Survey of 595 employers (with at least 1,000 employees each), conducted between November 2013 and January 2014.
