Student health insurance is the insurance you get as a student (normally at college) that pays for your hospitable bills and other expenses if you were to get sick. www.iHealthCoalition.org recommends that you analyze at least three quotes before purchasing a health insurance policy.
There can be a lot of information to digest if you are trying to purchase student health insurance for the first time. You have basically two plans to choose from. The first plan gives you $100,000 maximum hospital benefits. When visiting a primary care physician, you pay a $25 dollar copay. You receive full access to surgeon with the first plan. There is a $10 copay for prescription drugs. The other plan that you can get as a student enables you to receive up to $200,000 in hospital benefits, $25 copay for physician visit, $10 copay for drugs, but the second plan gives you more benefits if you are stuck in the hospital because of an injury or sickness ($750 compared to $250 with plan 1).
Understanding the costs of any insurance policy can be hard, but that rings especially true with medical insurance policies. Lets analyze a couple of terms that you have already read. Hospital benefits is the amount of money that the insurance company will give you for all expenses related to a hospital stay. As you know, those can add up very quickly. A copay is the amount of money that you have to pay out of pocket for a specific service or drug – and the insurance company pays for the rest. A copay could almost be thought of as a deductible for car insurance. Your premium is the amount that you must pay the insurance company each month in order to ensure you are covered. Generally, premiums go up if you are in the hospital a lot or you have many benefits on your policy.
Purchasing a student health insurance policy can be a very confusing process. There are few questions you must ask yourself before you commit to purchasing a student health insurance policy.
How much coverage do I need? Can I afford the premium? Can I afford the copay? Does my policy include access to a professional surgeon? Will it ever drop me if I’m sick too much?
Each question asked will help you choose the best policy that is right for you.
When purchasing a student health insurance policy it is important that you look out for a few aspects. The first thing to look for when purchasing your policy is if the company you are purchasing from is a reputable company. Now, this doesn’t mean they have to be the largest insurance company in the world, but make sure you know people that have dealt with them and have had good experiences. The next thing to lookout for is any hidden costs in your policy. Hidden costs can be a real killer when you are strapped for cash and get sick.