Catastrophic health insurance can be the perfect fit for college students. With the rising cost of health care, many students are unable to afford medical treatment without the presence of some type of insurance. If you are a college student, you may want to consider the following information before purchasing health insurance or trying to get by without it.
Why College Students Rely on Catastrophic Health Insurance
There are a couple reasons that college students rely so heavily on catastrophic health insurance.
- They can no longer qualify under their parent’s health insurance- The age limit for children to qualify under their parent’s health insurance differs depending on what health insurance the parent’s have purchased. It typically varies from age 18 to age 26. While some health insurance companies allow for dependent coverage as long as the individual is living in the home or is in college, some do not. If a student no longer falls under the qualifications of their parent’s insurance, catastrophic health insurance can be a low cost option.
- Students may no longer qualify for government provided health coverage- Many states have government health insurance in place for children of low-income families up to the ages of 18 to 25. The specific ages for each state vary though, as do the requirements for health coverage. Income, age, and living situations can play a huge role in determining whether a student is covered while they attend college.
- College students may not be able to afford full coverage health insurance- Many college students these days are already in debt with student loans. They often work part-time to help cover living expenses, as well as these loans, while they are attending school. With little income, they often can not afford to purchase full coverage health insurance and must either choose cheaper policies like catastrophic health insurance or go without insurance.
Benefits of Catastrophic Health Insurance
Many college students may not fully understand the massive debt a catastrophic illness could cause, and so choose to live without the protection of catastrophic health insurance. This is a big mistake. Without catastrophic health insurance, or any type of insurance at all, students will not only be subjected to a massive medical debt if an emergency occurs, but might not receive the adequate health care they need.
With catastrophic health insurance, students receive coverage:
- Inpatient and outpatient surgery
- ER visits, with or without admission to the hospital
- Needed diagnostic tests such as x-rays, MRIs, and CAT scans
- Emergency ambulance rides and lifeline air support
- Hospital stays
They may also be eligible for prescription riders, riders for doctor’s visits, and maternity riders. With catastrophic health insurance, all of this coverage is provided with an affordable low premium each month and a high deductible.
Catastrophic health insurance is a necessity for any college student. Without it, students may not receive the care they need in the event of an emergency. With it’s low monthly premium, catastrophic health insurance is the perfect solution for students who can not afford their own full coverage insurance plan and no longer qualify for government or family insurance.