Health Insurance Articles

Deciding Whether To Keep A College Student On Your Policy

2010-08-18

With the passing of the recent healthcare legislation, parents across the country can breathe a sigh of relief. This legislation allows an adult child, until the age of 27, to remain covered under a parent's health insurance coverage. Since parents are responsible for footing the bill, a new dilemma is whether or not to keep their adult children covered.

Newfound freedom comes with responsibility, and the fact is that people of college age can make some questionable decisions. Choices are everywhere, with colleges offering a variety of extracurricular activities ranging from intramural sports to fraternities, debate clubs to theatre. There are also hazards that accompany off-campus parties, where both risk and alcohol flow freely. Parents want their children protected no matter what, but have to decide if they can afford to keep paying for accidents that occur due to bad decisions and irresponsibility.

When entering college, an adult child is expected to learn how to manage his or her life. Classes, studying, membership in campus organizations and perhaps a part-time job leave little time for much else. Part-time jobs usually won't offer the health insurance options that are needed to cover medical expenses. Parents are left to weigh the pros of keeping their adult child on their insurance policy versus the cons of leaving them off.

Many students in college enjoy communal living; however, these situations increase the need for a student to have health insurance coverage. Communal living quarters are a hotbed for illness and infections, such as meningitis, to spread from person to person. Parents of students living communally need to be aware of the risks. Immunization and medication costs can rise quickly without the proper health insurance coverage.

Upon graduation, many students have thousands of dollars in student loans to pay back. Medical bills accrued during college frequently are put at the bottom of the priority list. If these bills are left unpaid, a downward-spiral begins and a life dodging collections calls await.

There are options for parents who can't afford to keep their adult child on their personal health insurance policy. Most insurance companies offer student health policies and many colleges and universities offer student health plans. Be aware, however, because these plans can be expensive and may not cover students with pre-existing conditions.

For most parents, the health of a child, even as an adult, doesn't have a price tag. However, there are many considerations when making healthcare decisions for adult children. Information is vital so parents know what their options are and can make the best choice. For many parents, the college experience is an investment in their children's future, and like their homes and vehicles, proper protection is a must.