What to Consider When Insuring Your College Student

With all the responsibilities that come with becoming a college student, such as studying, writing papers and adjusting to the freedom of being on one’s own, it’s likely the last thing on your student’s mind is health insurance.

Yet because accidents and illnesses occur – even to young and healthy individuals – having the appropriate amount of coverage is essential.

One option is to add your student to your own health insurance policy; however, this type of coverage may have limitations if he or she attends college out of state.

Another option would be to obtain health insurance through his or her college or university, something some schools offer to their students. This coverage is often very affordable, which is particularly beneficial to students on a limited budget.

However, these policies may cover  only those health-related services that are provided at the on-campus medical facility.

As well, if the student leaves school, the coverage will be terminated. It’s important to have a thorough understanding of what is and isn’t covered, and you and your student should read the fine print carefully.

Stand-Alone Plans Are Portable

As alternatives to the options above, a college student in search of health insurance may opt for a stand-alone health insurance plan.

By going this route, your student can select benefits that more closely match his or her needs.

These types of policies are also portable, meaning that the coverage will stay with the student regardless of whether he or she is still attending school.

Another solution is a temporary or short-term health insurance policy. These plans typically provide coverage for up to 12 months, and the benefits can be very thorough. This can be an ideal option for students who will be graduating soon and expect to be covered under an employer’s health insurance plan in the near future.