For some students, their parents’ coverage may be the better choice. The Affordable Care Act is also an option. Here are the pros and cons of the various plans.
Many colleges and universities require students to have health coverage, and most offer campus policies tailored for students. The cost is about $2,000 to $4,000 for the academic year, said Elizabeth Marks, senior strategy consultant for Academic HealthPlans, which administers student health policies for colleges nationally.
Many colleges that require health insurance include the cost of the campus policy on their fall semester bills. But they allow students to opt out by showing they have comparable coverage — such as through their family’s health plan. (The charge for insurance is different from a student health fee, which most colleges charge to cover the cost of basic care at campus health clinics and usually can’t be waived.)