Is your college student shelling out thousands for health insurance?

As students prepare to head off to college in the fall, the daunting task of packing begins. While it’s essential to bring along all the necessary items for a successful college experience, there are some things that you can leave behind. Here are five things you don’t need to pack for college:

1. Student Health Insurance:
One common item that many students may not need to pack is student health insurance. Most elite private colleges and many public institutions automatically enroll students in Student Health Insurance Plans. While this coverage can be beneficial for some students, including international students or those from underinsured families, it may be duplicative, costly, and unnecessary for others.

The cost of student health insurance can be significant, ranging from a few thousand dollars to over $7,000 per year at some universities. If you already have comprehensive health insurance for your family, it may be wise to opt-out of the student health insurance plan to avoid double-insuring your child.

2. Waiver Process:
To opt-out of student health insurance, you typically need to complete a waiver documenting that you have adequate coverage for your family. It’s essential to do this early on as colleges often require students to submit the waiver shortly after classes start in the fall. While colleges make an effort to inform students and families about the waiver process, many may overlook the emails or assume that student health insurance is mandatory.

3. Consider Your Existing Insurance:
Before deciding whether to opt-out of student health insurance, it’s crucial to review your existing insurance policy. Most campus health centers accept outside insurance, so your child will likely have access to the same medical and dental coverage at school as they would at home. However, it’s essential to consider any potential out-of-pocket costs or limitations of your current insurance plan.

4. Health Care Options:
If you choose to waive student health insurance, it’s essential to explore the available health care options for your child at college. Some colleges may charge students for visits to the health center, urgent care centers near campus may have higher out-of-pocket costs, and finding in-network providers in a different state could be challenging. Understanding the healthcare landscape at your child’s college can help you make an informed decision about student health insurance.

5. Chronic Medical or Mental Health Needs:
While opting out of student health insurance may be a cost-saving measure for many families, it’s essential to consider individual circumstances. Students with chronic medical problems or mental health needs may find it more cost-effective to enroll in student health insurance, especially if the plan offers specialized services or coverage that aligns with their needs.

In conclusion, while student health insurance may be a valuable resource for some students, it’s not a necessity for everyone. By carefully evaluating your existing insurance coverage, understanding the costs and benefits of student health insurance, and exploring healthcare options at your child’s college, you can make an informed decision about whether to pack student health insurance for college.