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August 2008 return to the table of contents

Insurance For College Students May Not Be A Bargain

More than two million young Americans are going away to college in droves this fall.

Many will purchase health insurance from their college or university.

As Business Week points out in recent issues, many of these policies may not be as worthwhile as one purchased through an agent or broker.

This newsletter asked John Becker, President of Access Insurance in New York to prepare four options for students and their parents.

Below are the four plans he provided.

  1. A specific student health insurance plan.  This policy offers a $250 deductible option as well as higher deductibles up to $2,500.  80% coinsurance.  $100,000 limit per illness/injury.   No outpatient Rx.  Any health care provider may be used.  $1 million life time maximum.   You can apply directly here.
  2. A traditional health insurance plan with a $7,500 deductible, 100% coinsurance, PPO network, $5 million life time maximum, Rx after deductible.   This works well when the student has good health, there is a student health service that takes the role of the student's primary doctor, but does not offer hospitalization, and the main concern is catastrophic health care.  This premium will generally be the lowest.  Please contact us at www.2hsa.com or email:  jbecker@2hsa.com.
  3. An HSA plan with a deductible ranging from $1,100 to $5,000, 80%-100% coinsurance, PPO network, $5 million life time maximum, Rx after deductible.  Please contact us at www.2hsa.com or email:  jbecker@2hsa.com.
  4. A traditional health insurance plan.  This policy offers a low to high deductible options, coinsurance, Rx and  copays.  PPO network.   This policy will be the most expensive.   Please contact us at www.2hsa.com or email:  jbecker@2hsa.com.
    For more details go to www.2hsa.com/plans
 

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