Affordable F & J Visa Insurance
Studying in the United States is an exciting opportunity, but it also comes with a hefty price tag. Tuition, living expenses, and other costs can add up quickly. One significant expense that often catches international students by surprise is international student health insurance [/student-coverage/]. While it may be tempting to look for the cheapest option or forgo it altogether if your school doesn't require it, the truth is that medical costs in the U.S. are exorbitant, and a single unexpected illness or injury could be financially devastating.
The good news is that there's a way to get the quality health insurance you need without breaking the bank.
What is a Student Health Insurance Plan (SHIP)?
Many universities automatically enroll their international students in a Student Health Insurance Plan (SHIP). These plans are often comprehensive and convenient, with the cost simply added to your tuition and fees. However, this convenience comes at a price. SHIPs are typically designed to cover a broad student population, including domestic and international students of all ages and with varying health needs. As a result, they tend to be much more expensive than what many international students actually need. It's not uncommon for a university-sponsored plan to cost over $2,000 to $4,000 a year.
The Alternative: Private Health Insurance
For many international students, a private health insurance plan is a much more affordable alternative to a SHIP. In fact, some sources indicate that a private plan can be less than half the cost of a university's plan. These plans are specifically designed to meet the needs of international students and often offer a wider range of choices and more flexibility.
How Much Can You Save?
While the exact savings will vary depending on your school's requirements, your age, and the plan you choose, the potential for savings is significant. Some private insurance plans for international students start at just over $30 a month, which can translate to thousands of dollars in savings over the course of your academic year. For example, some university plans cost upwards of $4,600 a year, while some private plans can start at under $700 a year.
How to Qualify for Private Insurance: The Waiver Process
If your university automatically enrolls you in a SHIP, you're not necessarily stuck with it. Most schools have a "waiver" process that allows you to opt out of the SHIP if you can prove that you have a comparable private insurance plan.
The waiver process typically involves these steps:
- Research your school's requirements: Your school's international student office will have a list of specific requirements that your private insurance plan must meet. This may include certain coverage minimums, a low deductible, and coverage for things like medical evacuation and repatriation.
- Purchase a qualifying private plan: Once you know the requirements, you can shop for a private plan that meets them.
- Submit the waiver form: You'll need to complete and submit a waiver form to your school, along with proof of your private insurance coverage. Be sure to pay close attention to the waiver deadline, as missing it could mean you're stuck in the SHIP for the semester or year.
Most Affordable International Insurance Plans
For F Visa Holders
Overview
Outside PPO network: After deductible, plan pays 80% up to the policy maximum.
Outside US: After deductible, covers at 100% up to the policy maximum.
Direct Billing
Overview
Elite: After copayments, plan pays 80% up to $10,000, then 100% up to the policy maximum.
Select: After copayments, plan pays 80% up to $25,000, then 100% up to the policy maximum.
Budget: After copayments, plan pays 80% up to $45,000, then 100% up to the policy maximum.
Smart: After copayments, plan pays 80% up to $100,000, then 100% up to the policy maximum.
Direct Billing
Overview
Outside PPO Network: After deductible, pays 80% to $5,000, then 100% to policy maximum.
Direct Billing
For J Visa Holders
Overview
Outside PPO network: After deductible, plan pays 80% up to the policy maximum.
Outside US: After deductible, covers at 100% up to the policy maximum.
Direct Billing
Overview
After deductible, pays 80% to policy maximum.
Outside PPO Network: After deductible, pays Usual, Reasonable, and Customary to policy maximum.
Direct Billing
Overview
Outside PPO network: After deductible, pays Usual, Reasonable, and Customary out of network to policy maximum.
Direct Billing
Conclusion: Take Control of Your Health Insurance Costs
Don't let the high cost of a university-sponsored health insurance plan add to your financial stress. By doing a little research and exploring your options, you can find a private health insurance plan that provides the coverage you need at a fraction of the cost. Check your school's waiver requirements today and see how much you can save!