At least 1.7 million college students are uninsured for health care, according to a March 2008 study by the United States Government Accountability Office (GAO). As a result, it’s natural for these students to turn to plans put in front of them by the schools they attend. However, these “school-sponsored” plans are uneven in their coverage, often provide limited benefits and many times contain exclusions and high cost-sharing amounts.
The College Parents of America Student Health Plan was created in order to help our organization fulfill our goal of empowering you to best support your children on the journey to and through college.
Issues related to student health are often a factor that can hamper a student’s ability to achieve success in school, and graduate on time. Sometimes these factors are directly medical, so that a student cannot continue his/her studies due to an acute or chronic condition, disease or illness. Often, however, the medical expenses incurred by an uninsured student in treatment become the driving factor in preventing a smooth path to graduation. The College Parents of America Student Health Plan helps mitigate the medical and financial risks facing students and their families.
Incorporating many of the recommended guidelines of the American College Health Association (ACHA), this plan from GradGuard provides up to $500,000 in coverage per condition and covers 50 percent of Usual, Reasonable and Customary (URC) charges for prescriptions, up to a maximum of $750 per year. Coverage of office visits, a key to the type of preventative care recommended in the ACHA guidelines, is at 80 percent of URC charges, up to a maximum of $75 per day. Coverage of substance abuse and mental/nervous disorders is at 75 percent of URC charges for the first 40 days of treatment. Among other highlights: pregnancies are covered as in the same manner as a “sickness,” and emergency room treatment is covered at 80 percent of URC charges.
This GradGuard plan is available immediately to members of College Parents of America, and can be utilized by traditional and non-traditional students, as well as their dependents. Underwriting for the plan, by Fairmont Specialty (“A” or Excellent rating by A.M. Best) has already occurred and program administration is handled by Allen J. Flood Companies.
The plan offers four deductible options – $250, $500, $1,000 or $2,500 per policy year – that affect the pricing of the plan, which ranges from $1,464 to $1,848 on an annual basis.
By now, you are probably wondering: How does a parent or student purchase the College Parents of America Student Health Plan? Upon joining College Parents of America by signing up for $89, or if you are already a member, you can link to and purchase the health plan immediately. For independent students, a $20 annual College Parents of America student membership fee will be charged immediately prior to enrollment in the health plan.
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