The choice between Acapulco and Cancun for a spring break vacation can be difficult. Trying to decide whether it’s possible to pass that astronomy final (without studying) is a little more challenging. College students are bombarded with important (well, maybe not spring break) decisions that will affect their future. But decisions about insurance coverage are not as high on their priority list. The last thing bouncing around in their sleep-deprived minds are thoughts of premiums, deductibles and the benefits of health insurance.The heated health care debate is not typically discussed over a cup of coffee. Many don’t understand the language of insurance, and others believe that because they are young and healthy, there is no need to be covered. “I have never looked into health insurance because it was never emphasized when I was growing up or even now that I am a young adult,” said 20 year-old Jrace Rider, student at the University of Colorado at Colorado Springs. “I feel that it isn’t a big deal. Whatever happens is going to happen, and I am going to have to figure out how to deal with it when the time comes. Maybe health insurance isn’t that expensive.”The cost of health insurance, however, often intimidates a young college student. “Health insurance is not affordable for the average American and especially not for college students,” said Brenda McConnell, a 45-year-old mother of two who returned to school to become a certified nurse’s assistant. “Most of the kids I go to school with, under the age of 25, do not have health insurance. The younger generation simply cannot afford it.”Regardless of affordability, the daunting question remains: What if something happens? The cost of an accident can be lethal for a college student without medical insurance. According to Anthem Blue Cross Blue Shield, an average day in a hospital is $6,000, air ambulance can cost $8,000, and somebody has to pay the price.”Health care is ridiculous, and I work at a hospital,” said Ariel Bates, a student at UCCS. “It is very expensive, not available for everyone and the reason people pay more money in taxes and insurance is because of those who come into the emergency room without it.” Many college students don’t know where to begin when searching for health insurance that will meet their needs as well as their budget. What are the options for a college student under the age of 30?Research the optionsThe first step for a college student, unfamiliar with health insurance, is to start by doing some homework. It is important to understand core terms, such as benefits, limitations, premiums (the cost of health insurance each month) and deductibles (the amount paid by the individual before the insurance company pays the remainder).Each individual needs to consider his or her budget and choose an affordable policy, as it is critical to pay on time. Usually, a policy with a lower premium contains a higher deductible, which means the cost of insurance is lower. However, if an accident were to happen, the individual would have to pay a higher expense before the insurance company covers the rest. On the other hand, a high premium often has a lower deductible. “One must also read about the exclusions and limitations as well as the benefits,” said Tina Collins, assistant to the UCCS dean of students. “It is important to know what a policy does and does not cover.” It is crucial to consider benefits, cost and the best coverage for an individual before choosing a health plan.Parents’ plansThe No. 1 recommended (and least expensive) health insurance policy for a young college student is to remain on their parents’ plan. “I am still covered through my parents’ insurance, even though I could get decent benefits through my job at the hospital,” Bates said. “I choose to wave them right now because that would be $100 to $150 taken out of my paycheck.” As long as a student attends college full-time, most insurance companies will allow the student to be covered by their parents until the age of 23 or 24. “From my experience, a lot of students choose to remain under the family plan because it is no cost to them and parents don’t have to pay extra either because the price of the premium stays the same,” said Selena Baxter, who works for Anthem Blue Cross Blue Shield. If this is an option, it is important to ensure coverage by first understanding the company’s definition of a full-time college student, the age limits and if the policy extends out-of-state.Consider college plansColleges offer plans as well. Many schools offer accident and health insurance for their students, but it’s important to consider the benefits and the limitations. UCCS, for example, provides two options, which include the following:Option A: Annual Deductible is $250Student $1,837 (annual), $774 (fall), $716 (spring) $1068 (spring/sum) $407 (summer)Option B: Annual Deductible is 3,000Student $1,309 (annual), $554 (fall), $513 (spring), $760 (spring/sum) $297 (summer)Try a short-term planAccording to healthinsuranceabout.com, another option to consider for college students is a short-term health plan. This especially applies to students who may not attend school for a short period of time or to graduates who hang suspended between their parents’ health insurance and the benefits of their employer’s insurance. The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a short-term plan that may prove beneficial in such circumstances. COBRA is a temporary insurance, usually applying to those who have a change in employment, and offers coverage up to 18 months. College students in transition may also be able to have their parents’ health insurance temporarily extended. If this is not possible, it may be best to search for another short-term plan with a high deductible. This will help to keep the cost low, until receiving benefits and insurance through a future employer.Get individual health insuranceAn individual health insurance policy (designed for people who do not have coverage through an employer or another group) is always another possibility for college students. There is a wide variety of insurance companies that offer assistance to the younger generation: Humana, United Health, Anthem Blue Cross Blue Shield, Assurant Health and more. Most of them offer free online quotes and user friendly Web sites. Anthem Blue Cross Blue offers the Tonik health plan, specifically for individuals under the age of 30. The Web site is geared toward a younger audience, as it’s easy to understand and broken into the following categories:Thrill-Seeker: live life on the edge and happily go over it; four doctor visits per year; $20 co-pay $5,000 deductible $83-$100 per month.Part-Time Daredevil: play hard, play safe; four doctor visits per year $30 co-pay, $3,000 deductible, $97-$119 per month.Calculated Risk-Taker: well thought out walk on the wild side; unlimited doctor visits $40 co-pay $1,500 deductible $123-$152 per month.It’s important for college students to understand that they have a choice. Depending on their priorities – maybe it’s Acapulco over a health insurance premium – there are options for college students interested in pursuing health coverage.A few sites to research:www.collegeheathinsurance.bizwww.studenthealthinsurance.comwww.anthem.comwww.studentselect.comhealthinsurance.about.com
