Short-Term Health Plans Ideal Summer Coverage For College Students & Grads

1. Short-Term Health Plans Ideal Summer Coverage For College Students & Grads Short term health insurance for college students will need to make health insurance decisions in order to avoid becoming uninsured. Students on a break from classes may need temporary coverage for the summer while recent graduates may need coverage until they can get health benefits from an employer. What many students don’t know is that a short-term health plan can be an ideal option in these circumstances. Students who are rapidly approaching the end of their existing insurance should consider that short-term coverage can be acquired quickly. An insurer can approve an application in as little as 24 hours and issue an insurance card to a student the same day as approval. Short-term coverage includes major medical benefits such as doctor and specialist visits, hospitalization, emergency care, and drug discounts. Most short-term plans include broad networks, or no in network requirement, so a student can see a provider anywhere in the country. This is particularly helpful for students who may be travelling within the United States, living away from their college or parents, or are undecided as to where they will live during the summer. Short-term health insurance is also inexpensive. When comparing short-term plans to Obamacare plans, students may find the short-term premiums are around half the cost or even lower. If short-term coverage is used for less than three consecutive months within a year, enrollees are not subject to the “shared responsibility tax” under the Affordable Care Act. Students should be aware that short-term health

2. insurance does not cover pre-existing conditions so health status should be factored into the insurance decision. Additionally, the student may have alternative sources of coverage such as: College Insurance: Some college health plans will cover students beyond  graduation or into the summer for current students. Short term health insurance for college students should contact their plan and find out when their coverage will end. Parents’ Health Plan: Children can remain on their parent’s health plan (or  be added to it) until they turn age 26. Children don’t have to be financial dependents or living at home so long as they are under age 26. However, if a child is living away at school and has no in-network providers in the area, the parents’ health plans may charge higher fees at out-of-network facilities or provide no out-of-network coverage except for medical emergencies. Job-Based Coverage: Health insurance provided by an employer is a great  benefit recent grads should seek in a job. However, employer-based coverage can have a waiting period up to 90 days before coverage becomes effective for a new employee. Obamacare: Under the Affordable Care Act (Obamacare), students may  qualify for a mid-year enrollment if their health coverage ends. Students can compare coverage options at HealthCare.gov and see if they qualify for a subsidy. "