Medical Insurance for College Students – Overview
Health insurance is the least priority when you are a student. However, as you enter college you need to understand the importance of health insurance and how it can benefit you in case of medical emergencies. Lack of proper health insurance can lead to increasing your debt even more. Surveys have shown that young adults are the most under-represented group in the insurance industry. In fact, around 30% of young adults lack insurance coverage, which puts them at risk of having to pay off high medical debts.
College students have multiple options to choose health insurance from. This also includes insurance plans offered by schools or even choosing to join in their parents’ insurance plan. However, if you are unable to get these policies then you can also choose to get an individual health insurance policy too.
We searched and selected the top insurance companies that offer health insurance for college students in the US.
Top Health Insurance Options for College Students in the US
Here is our list of the top health insurance options for college students in the US:
1 – Cigna
Cigna is the best option for college students to buy health insurance. It has incredibly attractive coverage at an affordable cost. Most policyholders at Cigna receive financial aid along with their premiums, with over half of these having to pay even less than US$ 100 per month.
Cigna health insurance coverage for college students covers pre-existing conditions and also offers subsidies to make insurance policy more affordable. A company report suggests that around 75% of their policyholders qualify for financial aid. Students don’t earn much and the extremely low cost of premiums makes Cigna health insurance an ideal choice for students.
You can choose Cigna health insurance plans from different tiers, from bronze to platinum. Bronze plans are basic and most affordable while platinum plans have a higher monthly premium but offer low deductibles. All Cigna health insurance plans cover 50 preventive care aspects, which includes annual checkups, health screenings and flu shots without any extra charge. There are several slabs under each tier with attractive offers.
Advantages of Cigna Health Insurance for College Students
- Extensive coverage
- Premium subsidies
- Affordable virtual healthcare
- Free preventive care
College students can purchase Cigna health insurance plans through its official website, or by visiting www.healthcare.gov.
2 – Aetna
Aetna is an ideal health insurance option for low-income students. The Aetna catastrophic insurance policy is the best choice for such individuals. Under this plan, the company offers extensive insurance coverage against major emergencies, at an extremely affordable cost.
College students usually live on a very tight budget which makes Aetna’s health insurance policy the perfect solution. You can easily buy a catastrophic insurance plan through the federal health insurance market. You can get a comparatively low monthly premium which is helpful and convenient for college students. The company has a good reputation in the industry and has received several awards for its extensive services.
Under the Aetna catastrophic insurance plan, you get extensive preventive care coverage, including health screenings and flu shots along with three completely free visits to a primary care physician in one year, without any additional charges. Although the catastrophic insurance policy from Aetna has high deductibles (around US$ 8,550 in 2021) the comprehensive coverage it provides against major medical emergencies which cost thousands of dollars, is definitely worth it.
It is important to note that the Aetna catastrophic insurance plan is not eligible for premium tax credit subsidy so the policyholder has to pay for the monthly premiums entirely on their own.
Advantages of Aetna Catastrophic Insurance Policy for College Students
- Comparatively low premium rate
- Coverage for preventive services and primary care for free
- Financial security for medical emergencies
If you are a college student but ineligible for Medicaid or other similar subsidized insurance policies, then the Aetna catastrophic insurance policy is excellent for basic health insurance at an affordable price. As soon as you reach your deductible, the company covers 100% of major services and provides you with extensive medical care.
3 – Everest
Everest Insurance is the best choice for college students looking for a short-term insurance policy. Everest provides incredible freedom to choose provider networks and wellness benefits that cover preventive care.
College students can benefit greatly from short-term insurance, as opposed to conventional health insurance. A short-term insurance policy is a great way to acquire temporary coverage at an extremely affordable cost, as compared to conventional insurance plans.
Everest short-term insurance policies are very flexible and can be easily customized, making it the best choice for short-term insurance on our list of the best medical insurance for college students. The company allows college students to choose a deductible anywhere between US$ 1,000 to US$ 10,000 along with copay options ranging between US$ 30 and US$ 50 which helps you remain within your often tight monthly budget as a college student. Policyholders can also choose their coverage maximum, between US$ 250,000 to US$ 1.5 million, according to your needs.
Advantages of Everest Health Insurance for College Students
- Affordable copay
- Low-cost coinsurance options
- Multiple coverage maximum offered
- Free-look period applied
The affordable copay, deductible and coinsurance options make Everest one of the best options for health insurance for college students.
These are the top three options for health insurance for college students in the US. Make sure to consult with an existing customer and learn more about the individual advantages and benefits of these insurance companies.