Should I Keep or Cancel Student Health Insurance?
This information is offered to assist you in finding the answer which best suits your needs. Please feel free to speak with a Student Health Insurance Specialist in the Student Health Insurance Office about issues specific to your coverage or to your student’s individual needs.
We will be happy to help.
The benefits of ISU Student Health Insurance are compelling. University students are in the age group most likely to be uninsured. They also can be underinsured; students are much more mobile for the first time and may spend 8 or 9 months away from home and provider vicinity. Illinois State University requires students to have comprehensive health and accident insurance and includes a plan of benefits in tuition and fees. Even though many of our students have primary insurance, the Student plan paid millions of dollars last year which would have been someone’s out-of-pocket expenses. You are not required to keep this plan, however approximately 80% of eligible students do keep it for these reasons:
Student Health Insurance processes more than 35,000 claims per year, saving students more than $14 million each of the last three years, with the majority of the claims for students who have other insurance.
If you have deductibles, copays, or co-insurance on an employer group plan, the Student Health Insurance plan can pay those amounts. HMOs and PPOs can limit coverage unless certain providers are used, the Student Health Insurance plan can pay those out of area costs. Compensation could be 100% by coordinating the two plans. According to the American College Health Association, medical expenses are the number one financial reason students leave school even if covered by a family plan. At a time when families can ill afford out of pocket expenses for medical care, keeping the student plan can close those gaps. Consider these questions:
- Will my current plan cover my student for the entire term?
- How well will my plan cover out of our home area? HMO/PPO restrictions?
- Does my current plan include doctors/hospitals in the ISU area? Your employer plan likely has a website or a booklet which you can review for approved provider information. Our zip codes are 61761, 61701, 61702, 61704, and 61705. Our students experience at ISU is they very often end up at medical providers out of network and their family plans reduce benefits or deny claims.
What would I save by dropping my present coverage and keeping the ISU plan?
The Student Health Insurance coverage is compliant with the Affordable Care Act (ACA) and carrying the plan meets the Federal requirement of having health insurance. The Student Health Insurance plan is rated 'Platinum,' the highest rating under the ACA!
Before making this decision, please speak with a Student Health Insurance representative to help make the best decision for you or your student.
If Student Health Insurance will be the only plan, it is especially important that you arrange for Summer coverage. Insured Spring students are eligible to do so by paying $211 prior to the end of Spring term, thereby continuing the plan between May and August. Students enrolled for at least 6 summer credit hours by May 20, 2024 are assessed the Summer premium with tuition and fees.
Premiums are included in tuition and fees: $281 fall and $281 spring.
- Policy can be maintained during summer for $211.
- Student Health Insurance deductible is $50 (which is waived if you have other coverage).
- Student Health Insurance covers most accidents, illnesses, preventive & contraceptive services, and prescriptions anywhere in the world.
- Student Health Insurance will pay its normal benefit or the remaining eligible charges left after primary insurance has processed the claim up to 100% if you have other insurance.
- Student Health Insurance now includes OnCall International coverage. Benefits include 24/7 worldwide medical information & assistance, Medical Evacuation/Repatriation coverage, travel assistance, and a $10,000 accidental death benefit.
- An optional dental plan is available. No dental coverage is included in the Student Health Insurance plan.
Student Insurance Orientation Video
Click here to view PowerPoint with audio on Student Insurance and how important comprehensive insurance is for college students. This is valuable information for students and families whether or not a student is enrolled in the University plan.
How to cancel student health insurance
Complete an online cancellation form with proof of other coverage (copy of insurance card may be required) each sem ester prior to the 15th calendar day of the Fall and Spring semesters, and the 8th calendar day Summer semester.
CLICK HERE between April 3rd and May 22nd to request cancellation of the summer 2023 semester.
CLICK HERE between July 10th and September 5th to request cancellation for the entire 2023-24 school year (fall 2023, spring 2024, summer 2024).
Note: Students have the same access and cost structure when using Student Health Service whether they have the Student Health Insurance Plan or not. The policy contains language which describes the plan and takes precedence over this summary. Plan booklet and ID card are available at the Student Health Insurance Office.