Home Money Insurance The 5 Best Tips for Evaluating Student Insurance Plans

The 5 Best Tips for Evaluating Student Insurance Plans

Student Insurance Plans: With so many healthcare options it’s easy to feel overwhelmed. Use the tips in this article to help better assess the coverage, prices, qualifications and much more of health insurance for international students.

Student Insurance Plans
Student Insurance Plans

The 5 Best Tips for Evaluating Student Insurance Plans

Tip # 1: Know what you want your insurance plan to cover before you buy

Tip # 2: Do not ignore exclusions

Tip # 3: Look at the big picture

Tip # 4: Double check the plan rating

Tip # 5: Know when you are getting a good offer (for good coverage)

Tip # 1: Know what you want your insurance plan to cover before you buy

Student Insurance Plans
Student Insurance Plans

First of all, identify what is important to you. Do you need sports coverage to join the football team or maybe you prefer a cheaper plan that will cover most of all doctor visits and hospitalizations? Regardless of your preference, it is important to fully understand what your international student insurance policy will cover and what will not cover much before you buy it.

Common benefits of insurance plans for international students:

  • Doctor visits and hospitalizations
  • Prescriptions
  • Mental health
  • Organized sports
  • Pre-existing conditions
  • Maternity
  • Emergency medical evacuation
  • Repatriation

Although no insurance plan can cover everything, international student plans tend to be quite broad in coverage.

Because these plans are designed for students to maintain throughout their education, they are standardized with medical evacuation and repatriation benefits but also include traditional care, such as inpatient coverage and outpatient treatment.

Student Insurance Plans
Student Insurance Plans

It is important to keep in mind that international students on an F-1 visa may have to purchase a plan that meets a list of school requirements. Those who have a J-1 visa must meet the government mandated insurance requirements. Either way, it is important to first know what the requirements of the school/government are and then decide on the additional benefits you would like to have in your plan.

Tip # 2: Do not ignore exclusions

International student insurance plans, like all insurance options, do not cover everything. It is common for health insurance plans to have exclusions, hidden limits and waiting periods for different benefits, so be sure to read the policy text carefully.

Student Insurance Plans
Student Insurance Plans

Welfare and preventive care are commonly excluded from insurance plans for international students, which means that vaccines and annual check-ups, for example, may not be covered. If this is the case, you can still visit the doctor for these types of visits, but you are expected to pay for all the services out of your own pocket at the time of your appointment.

Common exclusions of insurance plans for international students:

  • Wellness
  • Dental and vision
  • Preventive care
  • Congenital disorders
  • Self-inflicted injuries

Waiting periods:

Often the plans will cover specific benefits (such as pre-existing conditions), but only after a certain amount of time has passed since the beginning of your plan. our Student Secure insurance plans offer coverage for pre-existing conditions after a waiting period of only 6 months.

Student Insurance Plans
Student Insurance Plans

Hidden limits:

Even when the benefits chart for an insurance plan looks complete, it is always important to read the policy text in detail or contact a licensed insurance agent to determine if the benefits have hidden limits or sub-limits of coverage. A sub-limit is an internal limit under the main benefits of the student insurance plans.

For example, it may be $ 100,000 in hospitalization coverage, but when it is set in the fine print the benefit could be limited to only $ 500 per day.

Tip # 3: Look at the big picture

Your insurance plan covers much more than a benefits chart; It is important that you consider a lot of different factors. Having the best insurance coverage in the world will not be of any use if you do not have access to nearby doctors, specialists or hospitals that accept your insurance plan.

Student Insurance Plans
Student Insurance Plans

Access to doctors:

You will have to make sure that the plan is easy to use and that you can visit the providers of your choice without limitations. When calling the insurance company to discuss coverage, be sure to ask if the plan is part of a Preferred Provider Organization or a PPO network. Having a list of network providers in your area makes it much easier to find a doctor and will cost less to your pocket since providers have already agreed to accept your insurance plan.

Support services:

If you need help with your plan, are you able to contact your insurance company 24 hours a day? If so, what kind of services can you offer? Normally companies can help you find a doctor, guarantee direct payment and much more – just ask.

Claim processing:

You will always want to know how requests are processed before you buy. Long or confusing claims processes can mean future problems if you have to file a claim.

Tip # 4: Double check the plan rating

Student Insurance Plans
Student Insurance Plans

One of the most important aspects of any insurance plan is the company’s rating since it is ultimately about its financial stability to pay its claims. Ideally, make sure that your company has at least one A rating with either standard and Poors or AM Best (two of the largest insurance rating agencies).

Keep in mind that these qualifications are re-evaluated every year and you can always contact the insurance company directly to confirm your qualification.

Tip # 5: Know when you are getting a good offer (for good coverage)

Of course, the price of the plan is important, but do not consider the premiums as the main factor. Cheaper plans rarely cover more than expensive plans, so it is imperative to make sure that the balance of prices and benefits meets your needs.

Student Insurance Plans
Student Insurance Plans

As a reference, international students who study outside of the United States and are under 25 can buy a good plan for approximately $ 35 each month. The same plan within the United States averages approximately $ 50 since medical costs in the United States are much higher.

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