Everyone needs health insurance and this is one way to stay out of trouble during a health emergency. While this can easily be said to be common knowledge, not everyone has health insurance. The implication of this is not everyone is covered when they get into a health emergency.
Averagely, people with fairly good jobs will not struggle to get health insurance. The same, however, cannot be said about college students that do not earn a lot of money. This is because health insurance is not always cheap.
While the average person might consider health insurance very expensive, you do not have to break the bank before getting health insurance while in college. This is because of the existence of lots of affordable health insurance.
Now that you know you do not have to spend the little money you have on expensive health insurance, let’s find out the available health insurance for college students that do not earn a lot of money.
This is an insurance that lots of college students can benefit greatly from. It is exactly what it says it is. It is a type of insurance that college students can get when they work for large organizations either as full-time staff or part-time staff.
While this type of insurance can be said to be readily available, it is not open to just anyone. To benefit from this insurance type, you will need to qualify for it. Factors that will make you eligible for this insurance are your firm’s policies on insurance and your work schedule.
In as much as this type of insurance is open to people that might be unable to get other types of insurance, if you end up qualifying for this type of insurance or your spouse qualifies for it, you will no longer be fit for tax credits that are available via health care exchange. Nonetheless, you can still be eligible for this other insurance such as school-sponsored insurance or Medicaid.
When looking to get this type of insurance, you have to note that the amount it comes with differs based on the employer paying for it. So, you will be making a mistake if you assume every employer-sponsored insurance is the same.
Catastrophic Coverage Plans
This type of insurance is open to individuals that earn well, are less than the age of thirty, and are generally considered healthy. If you meet the above-named criteria, then, you are eligible for a catastrophic coverage plan.
Catastrophic coverage plans are not associated with high monthly premiums. However, it is strongly associated with high deductibles.
With this palm, preventive expenses are taken care of. However, your basic medical expenses have to be taken care of by you.
This plan is generally amazing. However, issues of high deductibles is a major challenge. While this insurance plan might be ideal for high earners that are looking to purchase a good insurance alternative, if you want to settle for the catastrophic coverage plan, you have to be certain it is the best you can get at the time.
Although this health insurance can be beneficial, it is generally not as good as a health insurance plan that is school-sponsored. With a school-sponsored health insurance plan, you will get better coverage without spending so much.
Health Care Exchange
This is a good alternative for students that earn quite well when in college. Also, it is good health insurance for students that are no longer covered by their parent’s health insurance because of their location.
If you are able to get insurance via the healthcare exchange, the likelihood that you will qualify for premium tax credits is high.
There are quite a number of factors that will affect your premium tax. Some of these factors are your eligibility for employer-sponsored health insurance, the size of your household, and the income of your household.
If you are able to lay hands on employer-sponsored insurance or you are still covered by your parent’s health insurance, you might not have a need for this type of health insurance. On the other hand, it is health insurance you might have to give a great deal of consideration if you do not have access to the above-named insurance.
Medicaid is a program that was designed to provide health insurance for people that no longer live with their parents. All things being g equal, this health insurance is for people that have very low incomes. In this category are college students that spend a lot of time studying and are yet to start earning actively.
While students that do not earn well can qualify for Medicaid, people that are related to students can also qualify for this type of insurance. As a student that gets their insurance from another source, your spouse or child can be deemed qualified for this insurance even if you do not use it.
This type of health insurance is exactly what it says it is and is available to international students studying in the United States. So, are you an international student and are studying in the United States? This insurance should come in handy.
This health insurance is one that can be afforded by people that do not earn a lot of money. It was designed to cover a semester and overlap a little. Also, as soon as you are done paying for premiums, you will have to pay little to nothing for coverage at medical centers on campus.
School-sponsored insurance plans might be great, However, they come with some flaws. You might be unable to see a specialist when you make use of this type of health insurance. Also, you might have the alternative of paying a higher rate before seeing a specialist. This defeats the idea of paying for affordable health insurance as a student.
With some school-sponsored health insurance, you are free to include your children and spouse. However, you will not be able to get this deal with every school-sponsored health insurance.
School-sponsored health insurance might seem like the best a student can enjoy. However, it is not always the best a student can have. When a student needs health insurance for their children or spouse, this type of health insurance might not always meet their needs. This means you will have to do some research before settling for school-sponsored insurance if you have dependents. You should find out how it stands with other health insurance plans for students before going ahead to make payment.
Read also: Disadvantages of Studying in the Netherlands
Parent’s Health Insurance
This health insurance provides coverage for college students that are less than 26 years. However, if you are less than 30 years and reside in New York, it also covers you. This is a health insurance plan that allows parents to take care of their children’s insurance needs through their own health insurance. This type of health insurance is active when children school in the same state that their parents reside in. Not every parent can afford to take care of their children’s health insurance. However, for parents that have the means of taking care of their children’s health insurance, this is a way to make it happen.
This health insurance seems very straightforward. Due to this, lots of people might settle for it without carrying out any research. Well, before deciding on this health insurance plan, you should do your research and find out what its drawbacks are.
If you are not looking to deal with any serious health condition, you might not have issues with this health insurance plan. However, I cannot say the same for people with serious health challenges. This health insurance plan is effective when students stay in the same state with their parents. So, if you do not live in the same state as your parents, it might not come in handy.
While issues of living in a different state as your parents could potentially mean you might be unable to get the best for this health insurance, that is not all you will have to consider when thinking about getting this insurance. Before settling for parents’ health insurance as a student, you must consider the financial capability of your parents. This can be done by having a good conversation with your parents to determine if they are willing and able to bear the cost of this health insurance plan.
Do College Students Enjoy Free Healthcare?
College students do not get free health insurance just because they are in college. When a college student becomes too old to be under their parent’s health insurance plans, they will need to make up their minds on a health insurance plan that they can afford.
The fact that a person is still in college and does not have a lot of funds does not mean they will enjoy free healthcare. If they must have their health taken care of properly, they will need to select health insurance that they can afford.
Does Everyone Need Health Insurance
The question ‘does everyone need health insurance is one that lots of college students ask. A lot of people assume they might not have any need for health insurance because they are young and healthy. However, being young and healthy does not mean you won’t need a health insurance plan. This is because the guarantee that you will always be sickness-free does not exist. Also, if you do not get sick, what is the guarantee that you will not get involved in an accident.
If the above points are anything to go by, you will need to get health insurance regardless of how young and healthy you are.
How to Select the Right Health Insurance as a Student
The process of selecting the right health insurance when in college might seem simple. However, it is very crucial and should be taken seriously.
So, if you must make the right decision the first time, you should have a vivid understanding of the alternatives that are available to you. In the absence of this, you might actually struggle to make the right choice.
Can Unemployed People Get Free Health Insurance?
No, you cannot get free health insurance even if you are unemployed. There are affordable health insurance plans that unemployed people can take advantage of.