What’s the Best Health Insurance for College Students?

A new guy stops at a bar after work and orders 3 mugs of beer. He sits in a booth, drinking a sip out of each one in turn.

The bartender approaches and says, “You know, a mug starts to go flat after I draw it. It would taste better if you bought one at a time.”

The guy replies, “Well, you see, I have two brothers. One is an Airborne Ranger, the other is a Navy Seal. They’re serving overseas. When they left, we promised that we’d drink this way to remember the days when we drank together. So, I drink one beer for each of my brothers and one for me.”

The bartender is touched, salutes and leaves it there.

The guy becomes a regular, always drinking the same way. Until one day when he just orders two beers.

The bartender hesitates. “Oh, he says quietly, “Condolences on your loss. Which brother?”

The man looks puzzled and then the light dawns: “Oh, no, everybody’s just fine.” Then he explains, “My wife’s insisting I have to lose some weight and cut out the beer. Hasn’t affected my brothers, though.”

With kids going off to college, the question arises: do I keep my child on my health insurance or drop them and buy health insurance offered by the college?

Some considerations:
• What does the school require? Just their insurance? Just yours? Both?
• Is the policy good all year or just for the semesters your child is registered for classes? If there is a gap, keep your child on your insurance even if you buy the school’s.
• If something serious happened, is the school in a community with excellent health care facilities and does their plan cover care there? If you’d want to bring your child home for care, keep them on your plan.
• Is your health insurance an HMO? These policies do not provide coverage out-of-state. In this case you’ll want to use school health insurance when out-of- town care is needed.

Please note: You will need a Power of Attorney to access information for a child 18 years of age or over. That includes medical care and claims.

The Affordable Care Act permits children to stay on their parents’ insurance until age 26 whether they’re in college or not, living at home or not, married or single.

Our clients tell us that this insurance decision is a great learning experience for their kids about real world considerations. They do it with their kids and have had their kids call us. We love being part of your family Call us at 847-362-8888.
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