not using a medical school's offered insurance?

[call me x]

hi everyone,

i was wondering if any medical students (i know this is the pre-med forum but since it is the most highly trafficked thread i would give it a try) or grad students have any experience using a different insurance plan other than the one his or her school offers. i am too old to stay on my parent's however i was wondering if obtaining health insurance, say a basic hmo plan, would possibly be cheaper than the school's $2k+ per year plan...i am doing some research on it but was wondering if anyone else has experience/knowledge of this?

thanks so much!

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[235009]

in general the school's plan is your best bet because it is a low risk pool ...i would be surprised if you find a cheaper plan that gives you the minimum coverage required by your med school (this is key) on the individual market

 

[plauto]

hi everyone,

i was wondering if any medical students (i know this is the pre-med forum but since it is the most highly trafficked thread i would give it a try) or grad students have any experience using a different insurance plan other than the one his or her school offers. i am too old to stay on my parent's however i was wondering if obtaining health insurance, say a basic hmo plan, would possibly be cheaper than the school's $2k+ per year plan...i am doing some research on it but was wondering if anyone else has experience/knowledge of this?

thanks so much!

if you're looking in NJ I would not bet a cent on it....this has to be possibly the worst state to live in...at least in California they got the landscape.By the way, 2Ks for health insurance is pretty cheap.

 

[DocMcCoy]

Just speaking for my school UTHSCSA (small sample size) you are allowed to use private insurance but have to provide proof prior to enrolling in classes and there are minimum requirements for what your insurance provides.

 

[call me x]

thank you all for your feedback....i realize that $2g is not that much however I was unsure if I would be able to find cheaper/better on my own (I am used to working and being under my employer's coverage so my views are skewed)

also does where you go/cost of living factor greatly into the cost of health insurance? (fyi i won't be attending school in nj (i will bite my tongue on the worst state remark ) but in the mid-west where the cost of living is significantly less)

 

[235009]

thank you all for your feedback....i realize that $2g is not that much however I was unsure if I would be able to find cheaper/better on my own (I am used to working and being under my employer's coverage so my views are skewed)

also does where you go/cost of living factor greatly into the cost of health insurance? (fyi i won't be attending school in nj (i will bite my tongue on the worst state remark ) but in the mid-west where the cost of living is significantly less)

your employer was paying the bulk of the insurance premium so you don't actually know how much it cost. see if you are eligible to keep your insurance through cobra and whether that would be a cheaper alternative

price of insurance is definitely regional but i think the general rule that the private insurance market is going to be more expensive applies nonetheless (especially since we're comparing a school that is in that region with private individual insurance in the same region)

 

[JokerMD]

what if you're still on your parents plan? My mom has family coverage from her employer which will cover me until 25 (26 under the new plan?). Could I just use this and save 3k a year? or do schools require coverage through their institution?

 

[Bacchus]

what if you're still on your parents plan? My mom has family coverage from her employer which will cover me until 25 (26 under the new plan?). Could I just use this and save 3k a year? or do schools require coverage through their institution?

Keep your parent's. Its better coverage, more than likely.

 

[alibai3ah]

what if you're still on your parents plan? My mom has family coverage from her employer which will cover me until 25 (26 under the new plan?). Could I just use this and save 3k a year? or do schools require coverage through their institution?

This was my plan to stay under my parents until I'm 26.

 

[MedMan25]

I agree with what others have said. Your schools insurance plan is probably going to be cheaper than anything you could find privately. Depending on your schools minimum coverage requirement, you might be able to find a low premium plan with a high deductible for cheaper than what you're school is offering. Also you could be eligible for medicaid depending on how much you take out in student loans + whether or not you get help from parents.

 

[ChiDO]

I think there is a lot of misinformation going on here. Usually there are only 2 options that are "legally" required by schools.

1. Parent/Spouse Insurance
2. School Insurance

Obviously, option 1 is usually going to be the cheapest and the best option. From my experience, school insurance is always VERY expensive usually ranging from $3-5k/yr. I heard of several people who were too old for parents insurance and went ahead and got private insurance for like $80-$150/month.

Usually this 3rd option is "illegal" since your school only allows options 1-2. To check out rates and whats covered: www.ehealthinsurance.com

 

[MedMan25]

Usually this 3rd option is "illegal" since your school only allows options 1-2. To check out rates and whats covered: www.ehealthinsurance.com

That depends on the school you're attending. Many schools just have certain standards that your insurance has to meet if you're going outside school/parental coverage. Best thing to do is check with the school. My insurance plan is acceptable by the school I attend and is not my parents insurance nor is it the schools offered insurance plan.

 

[NightSwim]

Also you could be eligible for medicare depending on how much you take out in student loans + whether or not you get help from parents.

I'm with MedMan on this one. If you're eligible for Medicare, it's a no-brainer. Go with the government provided insurance and don't look back! Jk, jk, I realize MedMan meant Medicaid. Just the thought of a medical student eligible for Medicare made me laugh. I wonder if this happens.

 

[MedMan25]

I'm with MedMan on this one. If you're eligible for Medicare, it's a no-brainer. Go with the government provided insurance and don't look back! Jk, jk, I realize MedMan meant Medicaid. Just the thought of a medical student eligible for Medicare made me laugh. I wonder if this happens.

Haha, sorry about the typo there. Yes, I meant medicaid. Although, there are a few in our class who are probably medicare eligible...

 

[mvenus929]

what if you're still on your parents plan? My mom has family coverage from her employer which will cover me until 25 (26 under the new plan?). Could I just use this and save 3k a year? or do schools require coverage through their institution?

I'm hoping that Obama's new plan will allow me to go back under my mom's coverage. That was the best insurance ever.

I'm with MedMan on this one. If you're eligible for Medicare, it's a no-brainer. Go with the government provided insurance and don't look back! Jk, jk, I realize MedMan meant Medicaid. Just the thought of a medical student eligible for Medicare made me laugh. I wonder if this happens.

You qualify for medicare if you're disabled or have end-stage renal disease, regardless of whether or not you're 65. I think my sister might be eligible for it... I know she gets social security, but I'm not sure what the deal with her insurance was once she gets kicked off my dad's plan (though, again, with the new law, that may be a null point for a few years yet).