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Below is a list of some of the insurance carriers we work with at Illinois Life and Health. For more information, or if you do not see a company that you are looking for,
please contact us
Below is a list of some of the insurance carriers we work with at Illinois Life and Health. For more information, or if you do not see a company that you are looking for,
please contact us
News
Individual
Plans Vs. the “Affordable Student Health Insurance?
by
Mike Novelli
- November 16, 2009Healthcare coverage is an enrollment requirement at many university and colleges. To accommodate and profit from this niche, many universities across the country are marketing their own “affordable student health insurance” policies. But not all plans are economical as Illinois individual health insurance plans.
With the rate of unemployment growing and nil family benefits, Illinois college students are fending for their own affordable student health insurance. As older students return to school to earn a degree, the demand for college health plan is emerging.
The truth of the matter is that these plans are similar if not the same as many Illinois individual health insurance plans. The underlying disparity is the pharmacy benefits. Insurers impose stringent prescribed medication guidelines.
Fortunately, many college students, ranging between the ages of 17 and 24 are usually healthy and don’t need a comprehensive pharmaceutical benefits. It contributes to the low premiums of college health insurance. These prescription limitations need not discourage older student from qualifying for coverage.
Certain universities have been found to charge an additional 30 percent administrative fee for these plans. The other disadvantage with the college sponsor insurance program is that students can only seek medical help from student health clinic. Depending on the guidelines of the health plan, students may consider reading the fine print regarding privacy contingencies.
As it turns out, an individual health plan for the same aged person is equivalent in price, minus the outpatient, and prescription conditions. Several media outlets report that statewide many of the college sponsored “affordable student health insurance plans” only provide .60 cents in health benefits, product and services per dollar premium.
The terms of service are the primary disparity between regular Illinois individual health plans and the college sponsored plans. Although traditional individual policies must extend “minimum credible coverage,” college backed plans do not have to adhere to the same guidelines. In synopsis, college sponsored plans do not afford the same value of benefits that standard individual plans are required to meet.
So the solution for obtaining the most affordable student health insurance quote is to compare the following costs: premiums doctors’ visits prescription drugs, and hospitalization of the standard Illinois individual health insurance and the college sponsored plan.
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