The Importance Of Health Insurance In College |  The Savvy Student

The Importance Of Health Insurance In College | The Savvy Student

With all the excitement of college and moving away from home, health insurance may be the last thing on your mind, but it’s a crucial thing to consider as you begin your new life in the dorms. You should already be enrolled in your school’s health plan, but if you think you might need more coverage than what’s offered by your school, here are some things to keep in mind about health insurance in college.

Why do you need it

College can be an exciting time. You’re finally on your own and making your own decisions, but it’s also a time where you’re more likely to make bad choices. Studies show that college students are more likely to partake in risky behaviors like drinking or smoking cigarettes. These behaviors can lead to chronic health problems down the line, and it’s important for young adults to take care of themselves now so they don’t have regrets later on in life.

What’s the difference between an HSA and health insurance

Health Savings Accounts (HSAs) are a lot like 401(k)s for your health care. The money you put into an HSA account is tax-deductible and grows interest tax-free, meaning that it can be used to cover medical expenses without being taxed. If you don’t use the funds, they roll over year after year until you need them. Unlike traditional health insurance plans which require the insured person to pay their deductible upfront before the plan pays anything out; with HSAs, there is no deductible.

Do I have to buy from my college

Students should know that they are not automatically enrolled into their college’s health insurance plan. However, there are ways to enroll and qualify for a plan. If students don’t qualify for coverage through their parents, they may be eligible for an Affordable Care Act (ACA) Marketplace plan.

What’s a student medical plan

A student medical plan is a type of health insurance that students can use to cover their medical needs while they’re in college. Usually this type of plan is either offered by the college itself, or through a private company. Either way, it’s important to know what your options are before making a decision about which one you want to go with.

How much does it cost

Health insurance is a must for college students, but it can be hard to know which plans to choose. Alternatively, there are other types of insurance that college students need to be aware of, such as renters insurance; as theft is more common on college campuses and surrounding areas compared to the national average.

This article on “how much renters insurance college students need” is a good start. The answer largely depends on the type of plan you want and what your needs are. For example, if you live on campus or share an apartment with friends, you may not need as much coverage as someone who lives alone and doesn’t have a roommate to help cover costs.

Is an HSA or medical plan right for me

HSAs and medical plans both provide health insurance coverage, but there are some key differences. Medical plans are generally the most expensive option because they pay for all your healthcare costs up to a certain amount each year. HSAs allow you to put money away tax-free and use it for healthcare costs over time. You can also withdraw money from an HSA if you qualify for a hardship exemption or if you’re diagnosed with a terminal illness.

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