Students arrive from many countries to study in the US, and depending on the level of socialized medicine available to everyone, students settle for different health insurance plans. Some settle for low price plans because they gamble on the chance of never having to need one based on their history of health. Others come from countries with affordable health care plans and probably think it’s the same in the United States.
Health insurance is expensive in the US, and rightfully so, the benefits implied are great. There are many great health insurance plans available, and this is why you must know how to settle for the best available plan.
1. Understand the reasons why you need a student health insurance
You might factor your age and relative health status perhaps as an Olympian or a non-exercise, non-adventurous person. However, the reason people take insurance is for emergency situations. The US is notorious for having one of the most expensive healthcare costs in the world. Not having insurance in the US can have life-long consequences that will reflect on your health and bank account.
In the US, you will receive treatment for any emergency situation, whether you have insurance or not. However, sans insurance, you will have to pay from your pockets, and they will surely be dented. A simple ambulance ride for two miles can accrue costs of up to $2000 or more.
2. Know the terminologies
There are a few terms in most health insurance plans that you should familiarize yourself with. Such definitions determine the quality of the plan you have.
- Claim: What substantiates a claim and what is the process of filing a claim when an accident occurs? Can you make a claim online or by hand? What must you submit to make a claim? Receipts, photos, reports, etc.
- Premium: The principal sum you pay every month or every six months to be covered for a period of time as per your contract.
- Deductible: This means an agreed amount that you have to pay before the insurance can start to pay on your behalf. This impacts your premium because a high deductible means you pay less monthly premiums.
- Check if they include Co-payments: For international student insurance USA, a visit to the doctor should be fully settled with your insurance company. A co-payment clause means that during such visits, you have to pay a fixed amount for the services given.
3. Understand what is covered in a health insurance policy for international students
Many organizations offer different types of coverage. But typically, some insurance companies offer medical cover limited to injuries and new illnesses. They do not focus on preventative care or wellness. You can, therefore, have emergency lab orders, doctor visits, and surgeries performed, but you do not get covered for routine checkups.
Also, check if the plan that you’re interested in covers all your prescription needs and drugs. If you have a pre-existing condition, purchasing medicine from your pockets can be quite expensive.
4. Budget
The average cost of having health insurance for an international student in the USA is quite affordable. However, you may need to have a nest of money in your account to cover some expenses from your pocket occasionally. If you understand the limit to your plan, you can budget for all your medical expenses that might sometimes include paying annually for services like co-pay, deductibles, and co-insurance.
5. Select a trustworthy insurance service provider
There are many cases of insurance fraud, and most insurance companies are always victors in court suits because they understand insurance laws. Ensure that you at least know all the details of the plan and find out the limitations each has.
A trustworthy provider will advise you on areas that you do not understand after evaluating your case and pointing out which plan is best for you.
6. Reviewing the cancellation policy
Considering that you’re a student who is probably brilliant, you may be tempted to go through the cancellation policy by yourself. While this is a sign of independence, the legal jargon involved can leave you out of depths. You should walk through the entire policy with your advisor, lawyer, or consultant to check for possible red flags you may otherwise fail to identify.
