What is the best health insurance for a kid going away to college?
Sending your sons or daughters away to college is a blessing and can also be very scary as a parent. Having a health insurance plan is a vital step towards financial health, especially for parents when they are sending their children away to school for the first time. People generally assume that college kids are mostly agile and healthy and do not need any insurance. This is far from what is a fact as research has proven otherwise. It is best to pay some regular monthly premium to cover unforeseen health burdens whenever they arise.
Usually, college students have a lot of options in terms of insurance. They can hop on their parent’s plan if they are under certain age groups. In some colleges, the school administration provides insurance plans for new students. Parents can also enroll their wards through various private and government healthcare insurance schemes like Medicaid. Also, with the world wide pandemic of Covid-19 which started in February of 2020 and gained full steam in March of 2020, colleges around the country are making it a priority to insure every student on campus.
Most colleges like Florida State or Ohio State will offer their own health coverage plan for students attending the school and living on campus. Sometimes these plans are extremely expensive which than causes most to look for a more affordable option. Companies like ours offer Private Health Insurance to anyone that can qualify and young college men and women can often get an amazing insurance plan with low to almost no deductible on nationwide PPO Networks like United Health Care or Cigna. Whichever plan you intend on getting for your ward, it is pertinent that you know the layout and features of the different managed care organizations available to you.
The differences between my son or daughter having an HMO or PPO Network
These are two universal terms used in the managed care niche. HMO stands for health maintenance organizations, while PPO means Preferred Provider Organization. Companies like this offer managed care based on distinct terms and conditions. HMOs are made up of a select group of specialists; hence, your son or daughter enrolled in this plan can only consult these sets of people. PPOs, on the other hand, affords users to consult doctors outside their network.
Usually, health insurance providers have a group of physicians working for them. This group of specialists is known as a network. As such, you can access the service of any healthcare specialty within a typical network. If your ward is enrolled in an HMO, they can’t go directly to specialists for their health concerns. Rather, they must first consult a primary health care doctor before being referred to a specialist within the network. However, for emergency services, they can bypass this referral system.
The reverse is the case for PPOs, as your ward can consult any healthcare personnel of their choice. In essence, you get maximum insurance for services within your network in an HMO. As soon as you consult a physician outside their domain, you incur the cost personally. Hence, if your ward enrolled in an HMO suffers a serious ailment in college, he or she might not get maximum coverage, especially if the healthcare providers in the school are not within the network. However, if your son or daughter is enrolled in a renowned PPO brand like Cigna, they can rest assured of maximum coverage of their claims anywhere they are.
Cost, procedure, and service
In terms of cost, whenever you opt for services outside your network in a PPO, you must pay a high amount as a premium. However, your monthly payment in an HMO is average as you can’t access any service outside their network.
In terms of procedures and filing, PPOs can be complicated. You might be required to pay for services rendered outside your network then ask for reimbursement from your insurance company later. This is not the case with typical Health maintenance organizations. Service-wise, HMOs are limited as their network cannot cover many para-medical services such as pharmacies and laboratories.
Hence, the ease of getting an investigation done or a prescription filled on time is more attainable in PPOs with wider coverage. You can also access subsidiary services like dental works better on PPOs. The best service for you is not always a PPO, even though more people tend to go for these managed care firms. Your location and needs are the main consideration in determining what you should use.
One of the best options for your ward going to college is a PPO like Cigna. They offer detailed coverage, financial assistance, and subsidies. These managed care providers also offer free teleconsultation and counseling services. You can buy a subscription on their official website. This health insurance company has several plans for intending clients. This includes students that are not working or earning any salary. They also have HMO services for whoever wishes to stay within their network. Also, Cigna gives discounts for students and clients with pre-existing medical conditions. They also offer free virtual consultation for your ward anywhere they may be.
Your child deserves the best plan and care in terms of their health. Luckily, several managed care services help you achieve this when your ward goes off to college. These companies are of different types and offer distinct services. In essence, we implore that you be prudent and not compromise your ward’s safety due to cost. They should be enrolled in renowned brands that have unlimited coverage no matter where the college is located. We also recommend that you personalize your decision and consider the school’s features.