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Student Health Insurance Don't Purchase From The University!

Guest post by: Alston Balkcom

Article Overview: Students, like the rest of us, should have medical insurance. However, the typical medical insurance plan marketed as "student health care insurance" has several major deficiencies. These flaws may mean that the health care policy offered through your university should be avoided.

Student Health Insurance Don't Purchase From The University!

Student Health Insurance Don't Purchase From The University!

Students, like the rest of us, should have medical insurance. However, the typical medical insurance plan marketed as "student health care insurance" has several major deficiencies. These flaws may mean that the health care policy offered through your university should be avoided. Many health insurance policies marketed through schools have limited benefits. They will usually place a low ceiling on the amount they will pay for medical doctor and hospital bills much more than will a healthcare insurance contract that may be available directly from Blue Cross Blue Shield or through one of the other major carriers.

You should look out for three types of limits. The first is a per incident limit. A policy might place a low ceiling on what it will pay for any one accident or illness. The second benefit restriction to watch out for is the restriction to what the health care insurance contract will pay in one year. The third benefit restriction to be aware of is the lifetime benefit limit.

The contract sold through your university might have a $20,000 calendar year maximum on benefits. If the student was covered as a dependent on a parent's plan, they might not have any calendar year restriction on the major benefits. There may be a lifetime cap of several million dollars and calendar year limits on prescriptions, but no separate annual limit on hospital expenses or medical doctor expenses.

"Student health Insurance" contracts are not all bad. The benefit limits may be adequate unless you have a major expense. However, they are often purchased by people who are unaware of their flaws. They will typically make the assumption that these health insurance plans are cheap because they are getting a group discount. They are inexpensive for two main reasons. College students are young and tend to have fewer claims. They offer less in benefits.

Being aware of the flaws of health care insurance policies marketed to college students is only half the battle. You should also be able to compare the benefits offered from other sources because not all of these plans are robust and benefit rich either.

There are several things to look out for when shopping for health care insurance. Health insurance contracts with annual limits on their hospital and medical doctor benefits should be avoided. Contracts with caps on what they will pay per accident or per sickness should also be avoided. Health insurance plans that pay only for accidents offer far too little protection. These should also be avoided. Health insurance plans that pay only in the hospital or severely limit what they pay in the physicians' office should also be avoided.

You will find a section in the back of a policy's outline of coverage or brochure that will list many of the limits of the contract. This section is usually entitled something like "Exclusions and Limitations." The exclusions and limitations may be in two separate sections of the document.

You should read this section carefully. All contracts will have some limitations or exclusions, however some have more limitations and exclusions than others.

Most contracts that are marketed today have network lists of physicians and hospitals. If you go to a medical doctor or hospital that is not on their list, you will find yourself getting a lower level of reimbursement than you would otherwise or getting no reimbursement at all. Be sure to make sure that the network includes physicians and hospitals that are convenient to you when you are home and also when you are at school.

Many people will automatically purchase the medical insurance policy marketed by their college, but these are usually limited benefit contracts. Be sure to understand what any plan you are considering purchasing covers and doesn't cover before you purchase. You will probably get much better set of benefits as a dependent on a parent's plan or from a policy you can purchase directly from a major carrier than you can get from a contract marketed as "student health care insurance."

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Article Tags: deficiencies, health care policy, student health care, student health insurance
Referred by: http://www.searchengineworkshops.com



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