Class Is in Session: Student Health Insurance
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In preparation for the new school year, stores fill up with back-to-school supplies. The cost of supplies, books, new clothes and other school materials can really add up on top of tuition! While most people think of the last few weeks of summer a as time off from school, it’s also a time to ensure your students and parents to get a better understanding of their insurance options before they head back.
You may offer student health insurance plans, but sometimes the most inexpensive option for students is to remain on their parents’ plan. The Affordable Care Act (ACA) requires plans and issuers offer dependent coverage to make the coverage available until a child reaches the age of 26. In cases where the student is over 26 and not eligible for their parent’s coverage, they may qualify for a subsidy through the Marketplace Exchange..
As quoted by an Aetna Student Health executive, the advantages of student health insurance are vast:
“Parents may have looked at student health insurance plans in previous years. Now would be a great time to take a second look at them and see if it makes sense to make the change. Student health plans typically offer lower premiums and lower cost-sharing compared to other options. Student health plans compliment campus health centers and counseling services, and also offer access to travel assistance programs that include medical evacuation when students travel overseas. These benefits and programs, combined with worldwide coverage, might make a student health plan the right choice for parents and their college students. One major advantage of utilizing a student health insurance plan is that it is tailored to the specific needs of students.”
As students head back to school, it’s important for them to know what physicians, urgent care centers and hospitals are in their area network. Make sure you communicate with hose enrolled that out-of-network expenses can be a costly mistake, and it’s better for the student to be prepared with names and phones numbers of in-network physicians before illness occurs.
If you have any questions regarding how to go about educating your students and their parents, contact an Assurance representative today.
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