Insurance is a good way to ensure financial security in case of any illness or accidents, especially for college students. In a survey conducted by the Center for Student Health and life among five hundred college students, seventy five percent of them had at least once visited a campus health center. According to the US Government Accountability Office (GAO), health insurance is considered as one of the requirements for the admission in the 2007-’08 year by almost thirty percent of the Universities and colleges. Some other institutions are also considering the same for their students, but are still confused on the benefits of both family insurance plan as well as campus health insurance.
A lot of colleges in US offer health insurance plans for their students and they ask for a written statement from the parents whether the student has another insurance plan similar to the one they offer. Even though the health insurance plans offered by different colleges are different, most of the schools focus on affordable premiums with essential coverage that meets the requirements of the students. The average annual premium for a campus health insurance plan will be around eight hundred and fifty dollars.
The insurance plans for the students are not much expensive when compared to the family health insurance plans and they also cater to their specific needs. But they are limited with co-insurance, lack of probability when the children leave the school, low ceilings for the coverage for unexpected health problems and high deductibles. This is when there needs to be a rethinking whether more importance should be given to family insurance plans or to campus health insurance plans.
The campus health insurance plans mainly provide coverage for accidents, injury and illness rather than the well being of the students. Also, the coverage was given for services like treatment for the injuries and allergy testing, but the services under the influence of alcohol and drugs was not covered. Similarly the the maximum benefit from the campus health insurance plan is limited to fifty thousand dollars for one condition for a life time which will not even meet the treatment expenses of major illness. This means that if the student is admitted in any hospital, either he will get low quality treatment or he will be stuck with a policy which is more restrictive. Another disadvantage of the campus health plan is that if the student needs to leave the school for the treatment of his illness, he will not get the coverage. As per the new policy, in order to get the full coverage, the student must get a referral letter from the campus health center before visiting the doctor, or else he will get only sixty percent coverage for the treatments.
On the other hand, there are some disadvantages to the family insurance plan also as the students who are graduates are not eligible to be dependents under the plan. Also, the premiums are charged for one or more children and hence, eliminating one graduate child from the policy will not affect the premium amount.
Hence, before deciding whether to go for campus health plan or family health plan one must strictly check on the pros and cons as well as the personal requirements.