Great Advice For College Student Insurance

Introduction

When going to college, student insurance is a factor that many students need to consider since there are still chances that they will get sick or need to go to the hospital. It is easy for younger people to think they will not need insurance until it is too late. While in college, student insurance can be the difference between having a $2,000 bill and a $10,000 bill. This can make all the difference since most college students are living on a budget and probably couldn't imagine trying to pay the higher of these two bills. Below are a few tips for college students to consider when looking for insurance.

Step 1

While going to college, student insurance may be available through the college itself. Many schools today partner with insurance companies to offer their students insurance that is affordable. This is often times in the form of catastrophic insurance. Catastrophic insurance may not cover things such as doctors visits or medications, but it does cover any hospital charges that may result from a bad accident or needing emergency services.

Step 2

Getting personal insurance is also another option if the student needs coverage for doctors visits or medications. While attending college, student insurance of this type can be the most expensive route to take. There are ways to keep the cost of these insurance policies as low as possible though. One way is to have a high deductible, which means the student will pay more up front should they need costly treatment. Shopping around for the best rate is the best option for students deciding to look for their own insurance.

Step 3

While in college, student insurance paid for by their parents is also an option. Recent law changes have made it possible for anyone to stay on their parent's insurance until age 26. This means that students under this age can still be on the same plan they were in high school with little cost to them. Paying the difference for staying on can mean the parents are not affected and the student can have the best coverage possible for all their needs.

Step 4

Starting a health savings account is not truly insurance, but it can be very helpful should large medical bills come up. This is money that is set aside in the case of medical treatment being needed. There are special laws regarding how this money is taxed so be sure to check all the facts before opening a health savings account.

Step 5

While attending college, student insurance can be achieved by getting a full-time job that has health benefits. This is the most traditional way of obtaining health insurance and may work best for the student that is either too old to stay on their parent's insurance or needs more coverage than catastrophic insurance can provide.

Comments

While going to college, student insurance is almost vital to every student. This ensures they are protected against any financial setbacks that could occur as a result of being sick or injured. Many students think that since they are young they do not need insurance, but this can cause many problems down the road as an accident could occur at any time. Students should at least check around to see what options are available to them.

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