What You Need To Know About Student Health Insurance

College students have their fair share of worries, such as paying tuition fees, working out schedules and, of course, studying. With all this to deal with, it's not surprising that health insurance isn't the main thing on students' minds. In fact, according to a 2002 study sponsored by the Heinz Family Philanthropies and the Chickering Group, 30% of college students don't have any type of health insurance. The study also pointed out that the need for health insurance is hard to ignore, as those who were without it were less likely to complete college. In this article we will look at the advantages of having a good student health insurance plan.

Short-Term Health Insurance Plan
As the name suggests, this type of insurance plan provides short-term health insurance coverage to students for a period of one to six months or for the whole year. The premiums are to be paid either in a single lump sum or in installments.

Here too, students may receive treatment from any licensed doctor or healthcare facility. The maximum lifetime coverage allowed under this type of plan is generally $1 million. Benefits can include surgery, ambulance and doctor diagnosis services, outpatient and in-hospital treatment, intensive care, and X-ray and laboratory costs. Of course, this will all depend on the exact plan and the insurer. Short-term health insurance is a non-renewable plan and may not be available in all states.

Deductibles and co-insurance are also applicable. In view of that, you have to first pay your deductible, after which the co-insurance option of 80/20 or 50/50, as specified in the policy, takes effect.

For students, this is often a great choice in terms of insurance because it provides the necessary coverage and is usually the cheapest available option due to the short-term nature of the coverage.

Studying Abroad
For students studying outside the U.S, typical student health insurance may not be available. In this case, students need short-term or long-term overseas student health insurance, depending on the duration of their stay in another country.

Nevertheless, there are many health insurers that provide renewable comprehensive medical insurance for students studying abroad.

Conclusion
Insurance protection while attending school is recommended, owing to the possibility of accidents and illnesses. However, the main concern is having the right type of health insurance coverage. When juggling high tuition costs and living expenses, the last thing students need is a large medical bill they can't pay. Research the types of coverage available carefully and choose one that best fits your health needs. If you're lucky, you'll never have to file a claim, but injury and illness are often unexpected - if you're well insured, at least you'll know you've got it covered.