Insurance Advice

As a student leaving home to attend college, you might no longer be covered under your parents health insurance. It is a good idea to begin investigating various insurance options should you require coverage.

When selecting health insurance, there are a few basic types to consider:

Fee-For-Service - In this type of plan, the individual shares the medical costs with the insurance company (typically the insurance company will pay about 80%). This type of plan is more expensive, but offers more freedom when selecting medical treatments.

Health Maintenance Organizations (HMO) - An HMO plan is a prepaid health plan in which the individual pays a monthly premium in exchange for comprehensive health coverage. While HMO's tend to be more restrictive in terms of the choice of doctors and treatments, they are a more affordable solution.

Preferred Provider Organizations (PPOs) - A PPO is a hybrid of the HMO and Fee-For-Service types. Like an HMO, a PPO typically requires one to choose a primary care doctor from a member of the organization, but allows more freedom when seeing other doctors or specialists.

In addition, many schools offer health insurance plans. When investigating these plans, keep in mind the amount of medical coverage and any fees or deductibles before selecting a policy.

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