College Insurance
12 05 2008 Autor: Robert
College students are seen as by most parents as responsible enough to take care of themselves, hence they no longer include them in their health insurance plans. It looks like there’s a consensus on this one as there’s over 5 million college students who are not covered by their parents’ health insurance.
However, colleges do provide them health insurance, although, we recommend that you choose wisely and read all the paperworks included:
- Maximum Benefits vs. Deductibles. Most college plans have a very low benefits ceiling—often $30,000 or less. This won’t cover large medical issues such as cancer or injuries suffered in a car accident.
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Interior Caps. Some college insurance plans are structured so it is nearly impossible to take advantage of all the benefits.
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Prescription Drugs. Most plans put a cap on the coverage for prescription drugs. These caps, however, can vary from $400 to $5,000-plus.
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Exclusions. At the bottom of most insurance plans is a list of exclusions—medical issues or procedures that aren’t covered.
- Loss Ratios. Colleges seldom disclose a key statistic for judging their plans, known as a “loss ratio” or “benefits ratio.”
Posted on: Monday, May 12, 2008 at 8:10 am and is filed under the category Basic Information.
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