health insurance

[rack_attack124]

For people in school who are 26 or older, did you buy the school's insurance plan? I'm almost 26. 

[TakeruK]

Yes. At my school, even grad students under 26 often choose the school's insurance plan because it is often better than their parents' plan or it is cheaper than being added as a dependent on their parents (or partner's) plan. At my school, part of our financial package is subsidized insurance, so we pay about $450 per year for health insurance (the plan costs $2600/year). 

Compared to the ACA plans in California, the school plan is a "Platinum-level" like plan (but with even better benefits) but $2600/year (assuming the full price, but again, funded students only pay $450) is about the same price as (or even cheaper than) the "Silver" level plans on the CoveredCalifronia marketplace (last I checked it was around $250/month = $3000/year). The student plan is often customized to student needs that are hard to get elsewhere (for example, our school plan has extra coverage for conditions typical for grad students and especially young adults aged 20-30).

Also note: If your school is offering a subsidized student health insurance plan, it may make you ineligible for the marketplace plans. This might mean that the only option you have once you turn 26 is to enroll in the student plan (or if you have a partner, through their plan).

[rack_attack124]

2 hours ago, TakeruK said:

Yes. At my school, even grad students under 26 often choose the school's insurance plan because it is often better than their parents' plan or it is cheaper than being added as a dependent on their parents (or partner's) plan. At my school, part of our financial package is subsidized insurance, so we pay about $450 per year for health insurance (the plan costs $2600/year). 

Compared to the ACA plans in California, the school plan is a "Platinum-level" like plan (but with even better benefits) but $2600/year (assuming the full price, but again, funded students only pay $450) is about the same price as (or even cheaper than) the "Silver" level plans on the CoveredCalifronia marketplace (last I checked it was around $250/month = $3000/year). The student plan is often customized to student needs that are hard to get elsewhere (for example, our school plan has extra coverage for conditions typical for grad students and especially young adults aged 20-30).

Also note: If your school is offering a subsidized student health insurance plan, it may make you ineligible for the marketplace plans. This might mean that the only option you have once you turn 26 is to enroll in the student plan (or if you have a partner, through their plan).

thanks. my birthday is in January. I will prob waive the fall semester and enroll in a school plan in spring. I haven't received any acceptances that I'm excited about yet though. 

[rack_attack124]

2 hours ago, BirdKiller said:

Yes I will be taking the school's health insurance plan. You can check your state's average monthly health insurance cost for a 21 year old here:

http://www.valuepenguin.com/average-cost-of-health-insurance

Compare that with the health insurance cost and plan from your school. They normally publish the cost per semester which could be 4.5 - 6 months. Generally and unsurprisingly, they're a lot cheaper than the statewide average. 

As an example, the health insurance plan from the graduate school I'm going to enroll costs $350 to be covered for 4.5 months with Platinum-level benefits. Compare that with $200 PER MONTH statewide under the bronze plan.  

What school are you going to? Unfortunately I received 2 rejections and 2 waitlists. I have one acceptance, sent out one more app this week and debating to send more since the waitlist schools haven't updated me. I'm not sure how much I want to go where I've been accepted. The deposit is due next week. My interests are not well-defined yet so I applied to a variety of programs. At my accepted school, insurance is $1265 per semester. For the full year, it would cover August 1st to July 31st the next year. I'm 25 so I don't need insurance in fall. In January I will turn 26 and need coverage. $1265/7 months is $180 a month. I have seen insurance plans on the healthcare marketplace for anywhere from $150 to $500 a month. 

[TakeruK]

3 hours ago, rack_attack124 said:

In January I will turn 26 and need coverage. $1265/7 months is $180 a month. I have seen insurance plans on the healthcare marketplace for anywhere from $150 to $500 a month. 

Don't forget to compare the plan coverage amounts and options! That is, is your school plan an HMO or PPO type plan? What's the out of pocket costs/copays for the typical things you use your insurance for? There's calculators online that figure out what you could expect to pay out of pocket based on average # of doctor visits, number of prescriptions (and whether they are brand name or generic etc.). What is the out of pocket maximum? How much is the deductible? Are you going to be regularly using services where the deductible applies? I'm not asking you to answer these questions here of course, but I'm just saying this should be factored into the cost comparison, instead of just comparing the premiums. 

[Neist]

My program pays for my insurance, but I'm considering upgrading it. It requires that I use on-campus health facilities generally. Although, I might just keep the simple plan. I haven't really had to go to a doctor in a decade. Every 5 years or so I might get a sinus infection, but I'm pretty healthy.

That being said, even if they didn't pay for my health insurance, I'd probably use loans to float getting it, even if it was terrible insurance. I'm terrified that I'll some significant injury and have no medical options. 

[Citizen of Night Vale]

16 hours ago, rack_attack124 said:

For people in school who are 26 or older, did you buy the school's insurance plan? I'm almost 26. 

I'll be turning 26 right before I start my grad program. I have decided to purchase the student health insurance. My university requires that if a student has health insurance from the marketplace, the insurance must be at least be a gold plan. The university PPO insurance plan's yearly cost is about half the price of any gold-level PPO plan.

Edited April 8, 2016 by Citizen of Night Vale

[rack_attack124]

48 minutes ago, Citizen of Night Vale said:

I'll be turning 26 right before I start my grad program. I have decided to purchase the student health insurance. My university requires that if a student has health insurance from the marketplace, the insurance must be at least be a gold plan. The university PPO insurance plan's yearly cost is about half the price of any gold-level PPO plan.

I didn't decide what school I'm going to yet. I might be able to get insurance through my employer but this job isn't something I want to do the rest of my life. You only get insurance if you're full-time. I am counting on school to get insurance and better jobs. I don't recommend going to the healthcare marketplace until you have to. January is still 10 months away so I will start looking harder in November. I put my phone number on the healthcare marketplace and they haven't stopped calling me since. always from a different number too! so annoying!

 

1 hour ago, TakeruK said: