Student Medical Insurance Tips

This is the time of year when millions of familes look for student medical insurance. 2 year veteran Online Adviser Tony Novak shares some little-known tips to help find the best plan.

(PRWEB) April 29, 2004 -- Each year in May and June, millions of families with graduating high school and college students find that they must replace their student's health insurance because they are no longer covered by their family or school-sponsored plans. Tony Novak, MBA, MT, enrollment adviser for http://www.Medsave.com, offers these tips to help find the best plan.

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. Those who enroll before graduation may be covered for years later under the same low cost student policy, long after they have left school.

2) Commercial student medical insurance plans are usually more expensive and carry a higher deductible than those offered through a college health service facility, but the commercial insurance plans offer coverage with any doctor or hospital anywhere in the U.S. rather than restrict coverage to a few participating providers in the college town. These commercial medical insurance plans are "indemnity" type. This means that they cover the "ordinary and necessary expenses" (as determined by AMA standards) with any doctor, hospital or provider of your choice. There is no required pre-authorization or required network. A typical comercial student medical plan costs $500 to $700 per year.

3) Student medical insurance plans are a great deal for graduate students and 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) Short term medical insurance is often a better choice than student insurance if the coverage may be required for less than six months. Short term medical insurance is similar to student insurance, but offers slightly better benefits.

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 but some basic health insurance plans at http://www.Medsave.com cover pre-existing medical conditions after only six months.

6) Student medical plans generally 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) Students can keep their private commercial student medical insurance in force after graduation 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.