Student Medical Insurance Tips

In May and June of each year millions of high school graduates and college students need to replace their health insurance. Coverage is usually purchashed online and these tips can help you find the right plan.

Tony Novak, MBA, MT, enrollment adviser for www.MedSave.com, offers these

tips for college students and their families.

1) Rates for student medical plans usually increase on June 1 of each year,

just before spring semester graduations. "Early birds" who enroll before

June 1 save money by locking in lower rates for the year ahead.

2) Commercial student medical insurance plans are usually more expensive

than those offered through a college health service facility, but the

commercial insurance plans offer coverage with any doctor or hospital

anywhere in the US rather than restrict coverage to a few participating

providers in the college town. A typical plan costs less than $500 per

year.

3) Student medical insurance plans are a great deal for older

"non-traditional" students because the premium rates are based on the very

low average medical expenses of the more typical 18-21 year old student

group.

4) Student medical insurance plans are "indemnity" type which means that

they cover the "ordinary and necessary expenses" (as determined by your

doctor and AMA standards) with any doctor, hospital or provider of your

choice. There is no required pre-authorization or required network.

5) Student medical plans cover pre-existing medical conditions after the

policy has been in force for 12 months. This is more liberally than most

other commercial medical insurance plans.

6) Student medical plans do not cover maternity costs, weight control

treatments, mental, dental, vision, over-the-counter drugs and pharmacy

prescriptions, or injuries sustained from participating in college sports.

7) Graduating students can keep student medical insurance in force for as

long as they wish, up to age 60. The plan automatically renews as long as

you pay the premium and this is a much less expensive option than is

typically available to the general public.