You just never know what will happen. I knew I needed to get insurance, but I thought, it's not like I'll be hit by a car or anything, right? Literally a week later, I got hit by a car. It was actually a hit-and-run, during a stressful time in school, and I had no insurance. You never know what can happen. ER bills are expensive and it's best to be prepared. – Meena, recent U-M grad
There's never a good time for an accident or illness, but the worst time is when you're not insured. Starting January 1, 2014, the Affordable Care Act requires individuals to have health insurance. If your student does not, you will want to consider their options.
Uninsured students may be eligible for the new health insurance exchanges or marketplace. The exchanges will help individuals to locate and review plans, and compare premiums, deductibles, and co-payment costs. Some people may qualify for a subsidy to reduce the overall cost.
For more on exchanges, see How the Affordable Care Act Affects U-M Students and HealthCare.gov. Timing is important: Open enrollment for purchase on the insurance exchanges will take place October 1, 2013 – March 31, 2014.
One insurance plan available to U-M students that is not on the exchanges is the U-M Domestic Student Health Insurance Plan. Only U-M offers this plan, and it was developed to meet student needs. It is an annual plan and is not refundable once purchased. Its benefits are comparable to a “silver” plan on the health insurance exchanges. It is available for purchase only during periods consistent with academic semesters, with exceptions for qualifying life events.
Again, timing is important: This plan is a good option especially if your student needs coverage before January 2014. And note that the fall deadline for purchase is September 24, 2013.
No matter which plan you choose, your student will thank you.
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