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What is a Student Health Insurance Plan

what is a student health insurance plan

What is a student health insurance plan? It is a health insurance plan for University and College students to provide them with the necessary health care. Although most parents’ health insurance insure their children up until the age of 26, it is advisable that they look into student health insurance plans once their children leave for college, as this is more financially beneficial.

One of the reasons why many parents purchase student health insurance plans for their children is to prevent or avoid the hassle of receiving referrals from out-of-state. Parents who do not already have health coverage for their children will find students health insurance plans beneficial.

What is a Student Health Insurance Plan?

Having considered the question ‘what is a student health insurance plan?’ it is essential to note that student health insurance plans are classified into two categories. They are:

• Managed Care Plans and
• Fee for Service Plan (FFS).

The Managed Care Plans are further classified into two. They are Preferred Provider Organization (PPO) and Health Maintenance Organization (HMO). Students who choose the PPO plan will be able to select a physician either from the service provider’s network or any other in exchange of a higher premium. However, HMO limits the choice of physician to the service provider’s network.

For FFS plan, students that consider it will pay 20% of the medical expenses while the rest 80% is covered by the insurance provider. This plan covers medical tests, checkups, hospitalization and other medical emergencies.

What is Student Health Insurance?

Many people are unaware that student insurance exists. This necessitates the question, what is student health insurance? It is a special kind of a health care insurance plan for students. Many institutions offer health insurance plans for students to purchase. They also make available the foundational health care treatments for the students via a student health care clinic established on the campus. Apart from the school, students can also get insured to student health insurance via health insurance companies that have special plans that cater for students in particular.

Health Insurance Options for Students

Below is a health insurance options for students:

• You can consider staying on your parent’s health plan until you turn 26.
• You can easily get basic insurance coverage at affordable rate, if your institution offers a student health plan,
• You can enroll in a Marketplace health insurance plan and enjoy essential health benefits and other benefits.
• You can consider a catastrophic health plan if you are less than 30 years, to protect yourself from serious sickness or injuries.
• You can determine your eligibility for Medicaid or the Children’s Health Insurance Program (CHIP).

The Necessity for Student Health Insurance

What is the necessity for student health insurance? This is a question which often rises when we talk of student health insurances. This issue should be taken seriously as life is unpredictable and no one knows what may happen the very next moment. Student’s health insurance is thereby necessary to safeguard the students from unknown dangers. It helps students to avoid the burden of huge medical bills and offers peace of mind to parents. In addition, it can prevent serious ailments. Student health insurance also incorporates prescription drug coverage which means students will be covered against rising costs of medicines.

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