The Affordable Care Act made it possible that the dependent or college students can be covered under the parent’s health insurance. The health insurance companies let you stay until you hit 26 years of age. However, what if you are over 26 years of age? Here, we are exploring Five Health insurance plan options for college students with no Income.
Five Health insurance options you
1. Get under the Parent’s insurance plan
If you are a college student and your age is below 26, it is best to get under the parent’s insurance plan. You can be directly included in your parent’s plan or they can add you by open enrollment. While, if you are in living in different states then either you stay in the same coverage with update changes or apply through your state’s school. You should also know about the special enrollment period which varies with the conditions.
2. School’s Student health insurance plan
If your school is offering you the health insurance coverage, then it is the best way to get insured with no income. As due to a large number of insured the plan is affordable and provide much better coverage to the individual. Although, it is necessary to read all the exclusion in this plan as some include an only academic year with leaving the holidays.
3. How about Marketplace health insurance plan
If you don’t want yourself to include in the parent’s insurance plan or student plan. Then, the marketplace health insurance plan is easy to get with the chance of getting subsidize rates. In order to enrol yourself in this plan, just visit your state marketplace health insurance service provides for it. Additionally, there are two things which you need to keep in mind that apart from special enrollment. The windows for getting open enrollment runs for a specific period which varies as per the state’s policy. If you voluntarily leaving the parent’s plan then you are not qualified for the special enrollment period.
4. Marketplace Catastrophic Health Insurance plan
Apart from the
direct marketplace health insurance plan, there is an alternative which
includes high deductibles and low monthly premiums. Although, as the name
suggests, it will only protect you when you get into a major accident or
ailment. It should also be remembered that it is only available for the individual
who is under 30 years of age with low income. So, what the benefits of this plan?
With the catastrophic health insurance plan, you can avail high deductibles
like $7,900 in 2019. Additionally, it is much cheaper than traditional health insurance
5. Medicaid coverage
It is a low-income health insurance plan funded by the federal and state governments for needy Americans. As it is jointly run by the state, therefore eligibility varies as per state or depending upon your living place. The eligibility requirements such as age, income, disability, household size, pregnancy and applicant’s role in households. As per the Medicaid.gov in 2019, about 72 million enrolled in the Medicaid and CHIP (Children’s Health Insurance Program).
Hence, it can be concluded that there are Five Health insurance plan options for college students with no Income. One should always read all the inclusion and exclusion of the plans before getting enrolled in it.