What Medical Insurance Plans Can You Offer Your Students?
Offering medical insurance to students is obviously a big topic of discussion for many US institutions right now. The Affordable Care Act (ACA) caused many changes in school plans, causing school administrators to rethink their policies about health insurance for students.
A growing student body and a larger number of international students has also raised questions for schools. More American students are taking advantages of opportunities to study abroad as well, which means health insurance for these students has also entered the debate.
Part of the question, however, isn’t what you should offer your students, but what you can offer your students. There are a few medical insurance plans your school can consider.
A Mandated Plan for Domestic Students
Domestic students make up the majority of the student body on most school campuses around the US, yet only about 30% of them have health insurance.
The provisions of the ACA did make changes, and more domestic students are enrolling in health coverage. Plans for domestic students should likely be ACA-compliant, although there is some uncertainty about the future of the Act and how that might impact plans.
A Separate Plan for International Students
With the growing number of international students in the US, many schools have had to rethink their approach to medical insurance for this group.
Now, increased visibility means it’s easy to see that international students have very different needs than the domestic population. That’s why schools should consider a mandated plan for international students. The plan should be separate from medical insurance for domestic students due to many international students being ACA-exempt.
Insurance for Study Abroad Students
If your school offers study abroad programs for your students, then you should consider offering those students a medical insurance policy for their time outside of the US. Many schools require their students to carry insurance if they enroll in a study abroad program; many schools also offer plans with the program, although fewer institutions mandate the plan.
Students studying abroad may not realize what kind of coverage they need when they leave the US, or they may mistakenly believe they’re covered under another policy. Offering them a medical insurance plan helps you protect these students as well.
What Should the Plan Include?
What the medical insurance plan includes will depend on who it is intended for: Your international students have different needs than your domestic students, and students studying abroad have a different set of needs than either of the other two groups.
Nonetheless, you want to make sure your students are being offered medical insurance coverage. You should consider the demographics of your student population, as that will affect the kinds of coverage they’re most likely to need.
Another thing to consider with any plan for any group of students is the service you get with the plan. Some plans have great prices, but they don’t offer support to students or school administrators. Whether it’s around-the-clock care or help in another language, you want to know that the medical insurance plan you offer your students will help them when they need it most.
