Health Insurance

[LoriP]

Hi all,

I am 35 and doing the "I've always regretted not going into medicine so let's do it now" thing and am currently enrolled in my very first science class ever. My question is, if I decide to quit my job and do the prereq thing and then as I move forward into Med School, how does one handle health insurance? That is the scariest part for me since I work a full-time job now with a great insurance plan.

Thanks!
Lori

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[MollyMalone]

My undergrad school offers insurance to those who are enrolled at least half-time. It's not cheap and it's not the world's best coverage, but it's at least a paddle in case I get stuck up the creek. (It's really not too bad. I needed a tonsillectomy and didn't like the ENTs at the school's hospital, and they still paid the same (80/20) for me to go to my hometown and have it done with I guy I knew and really liked.) Medical schools offer student insurance as well. I believe that AMSA (American Medical Student Association) offers a plan, as well as any school specific plans.

Good luck!

 

[pingouin]

I agree with TheDarkSide- check with your undergrad school. Mine only requires that you are taking at least one credit hour on campus (internet and telecom classes are excluded). There are two levels of coverage to choose from, and both levels offer partner or family coverage as well- although those get really expensive. The single policy isn't too bad- I have the more expensive plan, and for the year it's something like $115/month. Copays are waived if I go to Student Health, and for specialists copays are cheaper if SH has given me a referral.

You can also look into private insurances, as a lot of them now offer individual policies. I know that in my area Blue Cross/Blue Shield has some decent plans. One of my self-employed friends pays about $235/month, and her coverage is a little better than mine. Other option is to get a part-time job with benefits. You might pay more in premiums because you work fewer hours, but the plan benefits are likely to be better since it's a group policy.

 

[medicalbound]

Hi all,

I am 35 and doing the "I've always regretted not going into medicine so let's do it now" thing and am currently enrolled in my very first science class ever. My question is, if I decide to quit my job and do the prereq thing and then as I move forward into Med School, how does one handle health insurance? That is the scariest part for me since I work a full-time job now with a great insurance plan.

Thanks!
Lori

As others have said, check with your school. The individual plans through schools as well as med organizations such as AMSA are not bad, but they are often really overpriced for dependant coverage. Anthem (BC/BS) has decent plans that are worth looking at. As for other options, don't forget status quo. You could always keep working at your job through your premed years to keep the income and benefits. This is what I decided to do (I'm 32 BTW). It did take me longer (3 years), but it was well worth it for me and my family.

 

[aamartin81]

Look into single coverage under BCBS, Humana One, etc... I'm a bit younger than you, but my premium is ~$80/month and I get much better discounted rates than those typically offered through Universities which offer less established plans.

 

[MeowMix]

Health insurance is really scary, especially since the rates just go up and up as we pass 40. When we say goodbye to regular jobs, we often say goodbye to that nice insurance.

I got insurance through the school's undergrad insurance plan when I finished my prereqs; I filled the gaps with short-term catastrophic insurance; I have insurance through my med school plan now. It's fairly crappy insurance with a $250 deductible and doesn't cover a lot of services (e.g. no coverage for optical, dental, STD testing, and lots more).

The aforementioned AMSA insurance is even worse than our school plan. The only advantage of these plans is that you usually don't get penalized for being an older student; it costs the same for everyone. The cheap plans mentioned above get way too expensive for older students, or the deductible is very high.

Whatever you do, do not go without insurance, since that puts you into limbo; pre-existing conditions are usually covered as long as you can show continuous coverage.

 

[MiesVanDerMom]

if you were emplyed for at least 6 months at a large emplyer you're entitled under COBRA to continue that insurance for 18 months afterward at a rate of 102% of what it was costing you and your employer. this includes vision and dental too. Hope I didnt misread your post since no one else is bringing this up. My COBRA ends this month and hubby and I will be getting cheap catastrophic insurance and paying for routine stuff out of pocket. Theres also a tax deduction for out of pocket stuff too. My kids are going on CHIPS...

 

[Beau Geste]

Look at the Fortis short-term health insurance. It cost me about $30/month for general care (co-pay applied for general visits). If you are looking for something on a short-term basis, this is pretty decent. You can also renew every year if you are a student I think.

 

[Sol Rosenberg]

Hi all,

I am 35 and doing the "I've always regretted not going into medicine so let's do it now" thing and am currently enrolled in my very first science class ever. My question is, if I decide to quit my job and do the prereq thing and then as I move forward into Med School, how does one handle health insurance? That is the scariest part for me since I work a full-time job now with a great insurance plan.

Thanks!
Lori

Lori,

There are a myriad of health insurance plans out there that you can tailor to your needs. Health insurance does not need to be expensive -- lots of people buy way too much health insurance. You can probably find something from a major insurer for under $200 per month if you are willing to have a large deductable ($5000 - $10000.) If you have no health problems, then the most you will usually have to pay for a doctor's visit is $100 - $200, so you come out ahead. Insurance is all just a gamble, so if you have enough cash to cover minor sicknesses, etc (i.e. what's most likely to happen to you) you only need insurance to cover the major unforseen stuff.

Last time I had to pay for health insurance (when I took a sabbatical from my job,) I ended up paying $120 a month for Blue Cross/Blue Shield with a $5000 (I think) deductable. Then again, at the time, I was under 30, and < 30 year old non-smoking males are probably the lowest risk for health insurance. Therefore, my case represents a lower bound for what you could proabably expect to pay.

Even my father-in-law, who is a heart attack survivor (i.e. high risk) and over 60, only pays $1000 a month. I'm using his case as an extreme example to set a higher bound for a much higher-risk situation.

I hope some of this is helpful...

Jota

 

[Doctor Bagel]

I've been pricing out insurance plans, and it's not cheap. Unfortunately, a lot of the cheap plans exclude things like maternity coverage and mental health care. I'm not planning on having children any time soon, but it's always possible I'll get pregnant, and I don't want to be in the lurch in that case. Since both dh and I have a history of depression (both single episode), we don't want to wind up depressed again with little money and no insurance for it. I'm generally a fan of high deductible insurance, but I don't know if that's a good option when you're a student with no income. Anyway, it's tough, and there aren't easy answers. Your school's plan is probably your best bet, and I agree with MeowMix that it's critical that you don't go without because of all the pre-ex exclusions.

 

[MeowMix]

I'd also add that our med school will not allow us to carry a plan with a high deductible, or a catastrophic plan, because of the financial risks in case of serious medical problems. We're only allowed to carry something roughly equivalent to the plan offered through the school. So once you're in med school, you may not be allowed to carry one of the super low-cost plans.