ContentDesk) April 29, 2004 — Each year in May and June, millions of families with graduating high school and college students find that they must replace their student’s health insurance because they are no longer covered by their family or school-sponsored plans. Tony Novak, MBA, MT, enrollment adviser for www.Medsave.com, offers these tips to help find the best plan.1) Rates for student medical plans usually increase on June 1 of each year, just before spring semester graduations. “Early birds” who enroll before June 1 save money by locking in lower rates for the year ahead.

Commercial student medical insurance plans are usually more expensive and carry a higher deductible than those offered through a college health service facility, but the commercial insurance plans offer coverage with any doctor or hospital anywhere in the U.S. rather than restrict coverage to a few participating providers in the college town. These commercial medical insurance plans are “indemnity” type. This means that they cover the “ordinary and necessary expenses” (as determined by AMA standards) with any doctor, hospital or provider of your choice.

A typical comercial student medical plan costs $500 to $700 per year.3) Student medical insurance plans are a great deal for graduate students and older “non-traditional” students because the premium rates are based on the very low average medical expenses of the more typical 18-21 year old student group.4) Short term medical insurance is often a better choice than student insurance if the coverage may be required for less than six months.

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