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  • What kind of insurance do I need in college?
  • June 24, 2015
  • By LifeQuotes.com

    A student heading off to college is an extremely rewarding experience.  A young adult is going out into the world to take those bold steps to build an independent life. For parents, it is marked by feelings of pride in their children as well as anxiety for them.

    Health insurance

    Choosing adequate health coverage could be one of the most important decisions parents of the college-bound make.  If there is an accident or serious illness, the medical bills for an uninsured child could be exorbitant and cause huge financial setbacks.

    According to Aetna, college students can rely on their parents’ coverage or purchase their own-school-sponsored coverage. Employer-sponsored plans historically have had age-based cut-offs for dependents, but following the passing of the Patient Protection and Affordable Care Act, health insurers are now required to extend coverage to young adults under their parents’ policy until the age of 26. Also, students no longer have to live in the household, attend college, be married or listed as dependent on their parent’s tax return. However, if you have an HMO, keep in mind that if your child is going to school out of state, they will no longer be in the network of healthcare providers. This means any treatment they receive will have to come out-of-pocket and that can be expensive.

    Some insurance companies offer health coverage specifically for college students. BlueCross BlueShield Association, for example, recently launched the Independence Blue Cross Student PPO Plan in colleges across southeastern Pennsylvania.  The plan provides affordable and comprehensive healthcare coverage for college students.

    Pages: 1 2 3

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