There are three ways to obtain cheap student health insurance. It can be obtained from the student's college, insurance policy of the student's parents or from an individually bought policy.
Insurance from College
Most cheap student health insurance policies obtained from colleges tend to be very reasonably priced. While such policies are certainly reasonable, they provide lesser coverage compared to policies obtained from various other sources. Most of these policies that are marketed via colleges come with restrictions over benefits paid towards major expenses. Typically, benefits paid towards smaller expenses will be high quality without too many restrictions. However, those students incurring major expenses will find various restrictions on the benefits for such costs.
Annual Limits
Annual limits on most student insurance plans are typically just one-tenth of the limits present on other insurance plans. Hence, should a student have a crucial injury or sickness, they may begin their adulthood with a huge debt. Most of these cheap student health insurance contracts happen to be temporary in nature. Hence, this can work out to be an issue should the student suffer from any major medical situation during coverage but incurs health expenses routinely once they are beyond an age to be insured by a student policy.
While the prices of insurance policies obtained from the college are certainly cost effective, the tradeoff is usually that such contracts have reduced benefits when it comes to major expenses. This is one of the main reasons why students would do better by selecting one of the two other options available namely insurance through parents or individual policies.
Insurance through Parents
Cheap student health insurance obtained via parents is a better alternative compared to obtaining it directly from colleges. However, this has certain disadvantages as well. While the benefits on such types of policies are excellent, such plans tend to be temporary, thereby putting the student at a disadvantage. It is possible to insure a student based on a parental contract until the student reaches 26 years of age. While this system works fine for college students, should a person be unable to receive coverage once they are beyond this age, this can become a big drawback.
Individual Policies
One of the best ways to get access to cheap student health insurance is by purchasing individual health policies. Several insurance companies offer such an alternative and many of them offer a robust set of benefits as well. These benefits are akin to the kind of benefits a person receives from insurance obtained through parents or group insurance plans. The other advantage of such policies is that they offer permanent coverage as well. Sometimes, it is possible to obtain plans from reputed insurance companies who offer benefits amounting to millions of dollars. Certain contracts even offer unlimited benefits. Various contracts are available that individuals can continue to keep until they reach 65 years of age after, at which point they can receive Medicare.
Each of the three methods to obtain cheap student health insurance has its own set of drawbacks and advantages. It is up to the individuals to assess individual plans and decide which one works out best for them.
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