A student health insurance policy is uniquely tailored to meet the health requirements of school or college going students. It is an inexpensive health insurance policy that offers group benefits. Although most students are covered under parents-owned health insurance, students can opt for separate policies for extended cover.
Student Health Insurance: Possible Options
It is believed that buying a health insurance plan is a family affair. Hence, most students are covered under a family health insurance plan paid for by the parents. They are also covered under the group health cover plans offered by employers. However, employer health insurance plans cover the children of employees below the age of graduation.
Students who are going to complete graduation and are looking for a job can buy a short-term health insurance plan. Such a plan will provide temporary health cover till one gets covered by group health benefits.
One can always buy an individual health insurance plan for extended medical coverage. The premium for an individual plan is higher than student health insurance or group plans. Insurance companies also require the individual to undergo medical tests to consider the risk factors. It is best shop around before deciding on the most cost-effective personal health insurance policy.
Understanding the importance of health insurance, some schools and colleges provide student health insurance facilities to all their enrollees.
Student Health Insurance by Educational Institutions
As per a report by the US Government Accountability Office (GAO) in 2005, almost 60 percent of the colleges offer student health insurance. A student medical insurance policy is offered by public as well as private institutions equally. A public school student can avail of this facility for free, but some private school students can include the policy premium in the fees.
Student health insurance offers several advantages over personal health insurance. The eligibility requirements for student health insurance are highly flexible. Any regular student can purchase a health insurance plan under the auspices of the educational institution. Every student has to file a medical fitness certificate to buy a health insurance policy from the institution. Unlike a personal health insurance plan, students are not required to undergo medical tests.