College is an exciting time for parents and graduates. It’s a time for kids spread their wings and explore the world as young adults. Parents are able to watch their children move into the next phase of their life and possibly begin a new chapter in their life. As the frenzy of college preparation reaches its peak, many families realize there is a continued need for healthcare coverage for their college student.
The Options for College Students
When kids graduate from high school, traditionally they are no longer covered under their parent’s insurance plans. That isn’t always true now. If graduates are continuing their education in college, they may still be able to stay under the shelter of their parents’ healthcare insurance. If they don’t want to say under the insurance, there are other options available.
Option 1: Keep Your Parents’ Coverage
There are many college students that are still covered under their parents’ health insurance while in college. Because of the recent healthcare reform, students can still be covered under their parents’ healthcare insurance until they graduate or until age 26.
In order for this to work, parents have to work with their insurance providers to make sure they have medical resources and options in the state their child will be attending college. If these insurance providers don’t have any networks available, students may have a hard time accessing affordable coverage.
Option 2: Sign Up for a Plan at School
Parents that don’t want to allow their kids to stay on their health insurance can look at the options offered by the school. These options may be more appealing because the cost can be paid for with a portion of student loan monies.
These plans often have limited benefits but it’s best to have some coverage instead of none. Those that are interested in these plans should take care to choose the best plan for their students.
Option 3: Individual Healthcare Insurance
With so much reform in the healthcare industry, there are millions of students that have been given the option to apply for and get their own healthcare insurance. If students are lead to this choice, it can be a very affordable option.
When this insurance is bought through a healthcare exchange, professionals will be able to find the most affordable plan available for students. These professionals will also be able to assess the financial burden these plans will have on the students. There are some students that will receive assistance to pay for these plans.
There are other options available for college students that need healthcare insurance. These options include applying for Medicaid in the state they will be living in or purchasing catastrophic insurance coverage. While these are viable options, they aren’t always the best options.
Parents and students should take care to ensure the question of healthcare insurance is addressed. Parents will always want their children to enjoy the best health and making sure healthcare insurance is available is the best way to do it.