The advantages of student health insurance plans make them an affordable, quality alternative to more expensive, traditional plans. Here’s why:
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 another increase in the following year
Employers may charge additional amounts for dependents if you keep your student on the employer plan. And exchange plans are based on broader, more diverse groups with a higher risk factor. Student plans may be 60-70% lower in cost!*
Because students typically are a healthier group, student plans benefit from lower deductibles and out-of-pocket expenses.
The benefits offered under the student health plan are coordinated with the school’s Student Health Center benefits. This avoids duplication of coverage, and cost.
Student health plans have regional and national networks to ensure access to care whether your student is at home or away at school.
Student health plans are compliant with the Affordable Care Act (ACA) and qualify for the federally mandated coverage requirement.
*Comparison data from 2013 Employer Health Benefits Survey, Kaiser Family Foundation
To review the student health insurance available at your student’s school, use the Select School drop-down box below. Should you decide to enroll your student, our easy online enrollment takes only minutes to complete!
Alternative To Student Health Insurance
Your student’s health plan options have broadened with the implementation of healthcare reform (ACA). It’s important to review all of your options, and decide which is best for you and your student. Here are some alternatives to choosing a student health plan.
As a result of The Affordable Care Act (ACA), you can keep your student(s) on your employer plan until age 26 as a dependent. This is likely to be an easy solution, but there are some issues you should consider: Trend toward higher deductibles: To offset the increased benefits required by ACA, many employer plans are increasing the individual and family deductible. Large deductibles can make it difficult for your student to access healthcare. Geographically restricted managed care plans: If your student is attending college out of state, the care he or she receives while at school may be considered out of network and cost significantly more out of pocket. Dependent premiums increasing/employer contributions decreasing: As reported by JD Powers in 2012, employers have begun to pass along rate increases to their employees by decreasing their contribution to the employer health plan and increasing the employees’ dependent premiums. Also, employer-provided coverage may view the Student Health Center as an out-of-network provider.
What should you do if you want to keep your coverage?
If your student is currently covered by another health plan, and you’ve determined that the benefits and premium cost are appropriate, simply choose your school or university from the drop-down menu below. From there, you can select to waive student health plan coverage.
You’ve certainly heard about the federal health insurance exchange at healthcare.gov, and you may be familiar with your state’s exchange and its products.
Comparing and enrolling in an exchange plan may be an option for your student, but as with employer insurance, there are little known issues to consider before enrolling in these plans: Young adults pay more: The Affordable Care Act (ACA) imposes a pricing restriction on exchange plans that ensures that older adults don’t pay more than 3 times the premium of younger adults. Because older adults use health insurance more frequently than young adults, the result is that the carriers have increased premiums for the younger enrollees so that they can offset less expensive premiums for older adults. No subsidies for employer plan-eligible students: This is true for all purchases on the exchange. If the potential enrollee can be covered under an employer provided plan that meets minimum value requirements, then they are not eligible for subsidies, even if their household income qualifies them otherwise.
What should you do if you want federal health coverage?
If you would like to enroll your student in a federal health exchange program, simply choose your school or university from the drop-down menu below. From there, you can select to waive student health plan coverage.