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.