Health insurance is the least of your concerns while you’re young and in school. However, having protection in case of emergency is crucial for a college student to avoid piling on extra debt. The proportion of uninsured young people is the greatest of any age group; in fact, nearly 30% of young adults lack insurance, putting their financial security at risk if they accrue medical expenses.
While a 3-hospital stay typically costs $30,000, the average cost to heal a fractured leg is $7,500. Unlike health insurance, you are obligated to foot the full amount.
You may buy health insurance while in college in a variety of ways, including via your relatives’ plans or through plans provided by your school. However, you may obtain coverage on your own if you don’t have access to those kinds of plans.
We looked at 17 health insurance plans and businesses and compared their costs, coverage choices, and provider networks to assist you to buy health insurance that best suits your needs. These are the top insurance options we think college students should consider.
The Top 3 Student Health Insurance Plans for 2022
True Coverage
True coverage is the greatest option for health insurance for college students due to its affordability and variety of coverage options. It offers affordable premiums as well as ACA financial help.
Whether policies are obtained through the truecoverage.com website, pre-existing conditions are always protected, and if you are a college student, you may be eligible for subsidies that make the insurance far more affordable. As a student, you most certainly don’t make a lot of money. In such a case, you can be qualified for premium credits that bring down the price of your plan.
The coverage tiers offered by true coverage vary from bronze to platinum. Bronze insurance is the least expensive, whereas platinum coverage offers lower deductibles but higher monthly rates. You won’t have to pay extra for annual physicals, flu shots, or medical examinations because preventative treatments are included by default in all of the True coverage plans.
In addition, True Coverage offers reasonably priced virtual care that lets you communicate with a qualified doctor via phone or video chat. This is our top choice overall because of its comprehensive coverage, which offers more benefits for less money.
Pros :
- Alternatives for additional insurance.
- Some students could be eligible for subsidies on premiums.
- Preventive care is free and inexpensive online.
Cons :
- If you have a dependant, subsidies might not be accessible to you.
- You might need to look for different healthcare professionals.
Everest
Consider Everest Insurance if you’re searching for a temporary insurance plan. You are not restricted to a set provider network with Everest, and wellness benefits include preventative care.
For college students without access to standard health insurance, short-term insurance coverage may be a more cost-effective option. You may obtain emergency coverage for less money with a short-term policy than you would pay for a private insurance plan.
Everest’s short-term strategies do have some limitations, though. They do not offer dental, vision, or prescription medication coverage. The therapies you need if you’ve had a pre-existing ailment are not covered by your insurance.
Everest’s programs are most suitable for college students in excellent health without continuous medical requirements because of these limitations.
Pros :
- Alternatives with low copays and insurance.
- There is a free-look period.
- There are many maximum transmission periods available.
Cons :
- Excludes coverage for prescription drugs
- Conditions that already exist are not considered
- Not accessible in every state
IMG
We recommend IMG as the best alternative for foreign students due to its wide range of plan options, extremely high limitations, and availability of cheap deductibles. It also provides coverage for maternity and mental health issues. A good health insurance plan is crucial if you’re an immigrant student studying in the US.
For a fee, IMG enables you to add extra riders and coverage choices to your policy. You are covered for the loss or theft of your luggage, valuables, and personally identifiable information with add-on coverage. It also offers a defense against personal culpability. Depending on the insurance type, the region, and other elements, these supplemental coverages might not always be available.
You will be covered if you participate in any risky activities, such as bobsledding, windsurfing, parachuting, or whitewater kayaking if you add the outdoor pursuits rider to your policy.
Pros :
- Plans have the highest dollar amounts of up to $8 million.
- There are several available riders and add-ons.
- Includes coverage for prescription drugs.
Cons :
- There can be waiting periods for conditions that already exist.
- J.D. Power has not ranked them.
- The J1 and J2 visa criteria are not met by lower-tier choices.
Conclusion :
We examined a variety of choices, including Medicaid, Health Insurance Marketplace plans, school-offered insurance, relatively brief insurance, and insurance provided by commercial firms to buy health insurance for college students.
We examined a total of 17 choices, ranking them according to their financial soundness, availability, provider’s network, and total yearly cost. Due to the customarily restricted budgets of college students, special consideration was given to plans that provided both affordable rates and comprehensive coverage.
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