Almost all colleges and universities offer student medical insurance to those who attend their school. In fact for many schools, having health insurance is a requirement for admission. To make it easy on students, most colleges offer a group medical plan that is comprehensive and meets most students’ needs. In fact, your college may require you to carry this insurance. However, in most cases, you simply need to have some type of affordable medical insurance that is at least as good as the one offered by the college. This leaves some room for you to find a more economical and tailored policy of your own.
The first thing you need to do if you are trying to save money on student health insurance is to find out the requirements for your college. This will ensure that you are being quoted on the proper amount of coverage. It will also ensure that you are not wasting time looking for your own individual medical insurance policy when your college requires that you carry theirs. If you indeed have the right to purchase outside student medical insurance plans, it may be to your benefit to find out more about the health clinic on campus, if there is one. Can you use it if you don’t have the college’s specific insurance? If you can, make sure you opt for a plan that has the clinic in its preferred network of providers.
Student health insurance provided by colleges is basically the same as group medical insurance coverage from an employer. It is a group medical insurance policy, with everyone paying the same rate regardless of health and history. What this means is that even if you are very healthy and rarely see a doctor, you will pay the same amount as someone who has chronic health problems and needs continual healthcare. Healthy students who have the option of carrying their own individual student health insurance will often be able to save money because they will not be subsidizing healthcare for less healthy students.
By choosing to carry your own private medical insurance you may also be able to save yourself additional money by tailoring your policy to your needs. If you are only concerned with insuring yourself in case of major illness or injury, you can get a policy which is designed to do just that. Such policies tend to be a bargain. You can also opt to raise co-insurance percentages, co-payments and deductibles for a lower monthly premium. You can choose to opt out of coverage you may not need often like dental, vision and prescription coverage. There are many discount providers on the market who can provide such services at a very low price now. Before making these changes, be sure to check on the health insurance requirements for your school to make sure you meet the minimum levels.
Colleges and universities choose to offer major medical insurance for the well-being of their students and the campus as a whole. It is a very convenient option, but not one that works best for every single student. If you are one of those who feel that the student health insurance plan at your school is not for you or you would like to save money on insurance, you have many other student medical insurance coverage options available to you.