Information you can rely on.

People you can trust.

College Coverage vs. The Exchange

Author: Venus Dean-Bullinger    Posted: April 20, 2015

When my husband and I sent our two children away to college a few years ago, we didn’t have to worry about medical insurance.  They were both covered under their father’s company plan until the age of 26.  Unfortunately, all college bound students aren’t so lucky.  So, what options are available if a child doesn’t have coverage under a parents plan?

Many parents aren’t aware that colleges and universities offer medical plans to students, and many of them are equivalent to ‘gold’ or ‘platinum’ level plans at a ‘bronze’ level price.  In other words, great benefits at a reasonable price.  What’s more, the premium can be bundled into your child’s tuition.  Pretty nice not to have to worry about a separate payment.

However, several colleges and universities have recently chosen to get out of the health insurance business and the Affordable Care Act is there to provide alternatives.  Some students are finding they may be able to save money with coverage outside of the college/university offerings through the Health Exchange.  Many experts are divided on whether this change will be good or bad for students, but most agree it’s nice to have options.  Something to keep in mind when shopping for coverage for your student is that the Washington State Health Exchange ( Healthplanfinder), will only allow the premium tax subsidy to be used inside the Exchange.  The Affordable Care Act will not allow a subsidy to be used for the student’s college/university offered plan.

It’s important to keep in mind that even though the rates may be less because of your child’s income and subsidy, the benefits may not be quite as rich as a plan offered by a college or university.  Furthermore, make sure that you follow the rules and guidelines when helping your child apply for insurance through Healthplanfinder.  You certainly don’t want to be saddled paying back a subsidy your child has received in error… paying back student loans is hard enough!

I hope this information helps make sending your students off to college a little less stressful. Of course, we’re always here to help.

Share this post:
Share on FacebookShare on Google+Share on LinkedInShare on RedditTweet about this on TwitterShare on StumbleUponDigg thisEmail this to someone




« Return to Blog HomeEmail the Author

Connect With Us

Rapport Benefits Group
Physical Address:
2367 Tacoma Ave S
Tacoma, WA 98402
Get Directions »

Mailing Address:
12708 252nd St E
Graham, WA 98338

Phone: 253.753.9930
Toll Free: 844.523.2633
Fax: 253.442.6092

Email:

From The Blog - Uh, Oh….The Holidays Are Coming!

How exciting, Tis the season to be jolly. Fa’ La’ La’ La’ La..La’,La’ La La!  Tis also the season to watch what we eat. Although health advice has focused on saturated fats from high-fat animal foods, many people take that advice to mean all fats are bad.  Choosing in their stead an array of reduced-fat and fat-free foods rich in carbohydrates… from crackers to sweetened yogurts. They especially increased their consumption of two kinds of […]

Continue Reading

©2014 - 2017 Rapport Benefits Group Inc. | All Rights Reserved | Site by: KILMERHANSEN Design