Health insurance subsidy

[Danger_Zone]

This might be a silly question but I'm kind of unclear about financial terms and would like to clarify.. On an acceptance letter I received it says that "eligible graduate students currently pay an annual $479 premium; the university subsidizes the balance of the annual premium." Does this mean that I would have to pay the health insurance fee but would be given this sum back at the end of the year?

[Neist]

3 minutes ago, Danger_Zone said:

This might be a silly question but I'm kind of unclear about financial terms and would like to clarify.. On an acceptance letter I received it says that "eligible graduate students currently pay an annual $479 premium; the university subsidizes the balance of the annual premium." Does this mean that I would have to pay the health insurance fee but would be given this sum back at the end of the year?

My interpretation would be that they subsidize the rest of the fee, which is probably considerably more than $479. 

Just a guess though.  Might shoot them an email.

[Danger_Zone]

10 minutes ago, Neist said:

My interpretation would be that they subsidize the rest of the fee, which is probably considerably more than $479. 

Just a guess though.  Might shoot them an email.

Thanks, I'll have to e-mail about it. Health insurance is a bit different in Canada so I am unclear about how high the fees would be in the US, but $479 seemed a bit low! 

Edited April 8, 2016 by Danger_Zone

[Neist]

1 minute ago, Danger_Zone said:

Thanks, I'll have to e-mail about it. Health insurance is a bit different in Canada so I am unclear about how high the fees would be in the US, but $479 seemed a bit low! 

For good insurance, it could easily be that much per month. 

[TakeruK]

My school says something similar. The full cost of insurance is about $2600 per year and students pay $450. The graduate school subsidizes (i.e. pays for) the rest of the cost. So, you're right, something less than $500/year is very very low in the US but that's only because our schools are paying most of the cost for us. 

Note that insurance do not cover 100% of everything so you will still have to pay some money when you go to the doctor etc. The details of this depends on your plan.

[PhDinPublicHealthHopeful]

Oh Canada! Where health insurance makes sense! I've been teaching 10 years and for 9 haven't received health insurance. If I wanted it, it'd be about $700/month. What I gather is you'll pay the $479 and they'll pay the rest. Awesome deal for America's standards...but that's not saying much.