{"id":2619,"date":"2022-06-29T16:47:34","date_gmt":"2022-06-29T08:47:34","guid":{"rendered":"https:\/\/www.pacificprime.lat\/blog\/?p=2619"},"modified":"2024-04-30T11:45:51","modified_gmt":"2024-04-30T03:45:51","slug":"international-student-health-insurance-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/www.pacificprime.lat\/blog\/international-student-health-insurance-what-you-need-to-know\/","title":{"rendered":"International student health insurance: What you need to know"},"content":{"rendered":"

Whether you\u2019re going to be an exchange student for a semester or study abroad full-time, the experience can be daunting yet exciting. After all, moving from a place you\u2019re familiar with to somewhere entirely new is a huge decision. While you likely already have a checklist of things that you need to prepare before setting off, there are some things that you might have overlooked. For instance, international student health insurance is something that foreign students in the US and overseas tend to not think about until it is too late.<\/p>\n

This Pacific Prime Latin America<\/a> article explores why international student health insurance is a must and how to find the best plan for your needs.<\/p>\n

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Things to consider when securing international student health insurance<\/h2>\n

If you\u2019re an international student in the US, the college or university you\u2019re enrolled in will probably require you to have health insurance coverage. Ideally, you should research what the best international student insurance in the US (or wherever you\u2019re going) is for you before making the move.<\/p>\n

Where are you studying?<\/h3>\n

Health insurance policies and costs can vary significantly according to location. As a US international student, keep in mind that the cost of healthcare isn\u2019t the same in every state. You also have to consider whether the insurance plan you\u2019re eyeing can meet your medical needs as a student. For example, the US\u2019 Preferred Provider Organization (PPO) network can be extremely challenging to navigate.<\/p>\n

On the other hand, US-based students doing an exchange program are often faced with less stringent requirements. This allows them to find the best options based on their destination instead, opening up a wide array of insurance plans to choose from.<\/p>\n

What benefits do you need?<\/h3>\n

First-time health insurance buyers might not know what they need or want. If purchasing US international student health insurance is something you\u2019re doing just to meet a requirement<\/a>, you\u2019re not alone. However, this is an opportunity to put your money towards a plan that you will actually use, and that meets your needs.<\/p>\n

Essentially, student plans typically have the same benefits as an international private medical insurance (IPMI) plan. But these benefits are usually reduced as student plans tend to be price sensitive. Likewise, many are looking to purchase a student plan only to fulfill their visa requirements – without the intention of actually using it.<\/p>\n

What\u2019s the difference between health insurance plans?<\/h3>\n

While you could purchase a full IPMI plan to meet requirements and get more benefits, these plans tend to be much more expensive. Note that all visa types require insurance, and university-provided insurance plans are generally limited. Not only do they offer fewer benefits, but they are also known for having a restrictive hospital network. Despite these shortcomings, they are often more expensive than international student plans through a reputable insurance broker.<\/p>\n

International student insurance coverage while studying abroad<\/h2>\n

Every policy and insurer offers different benefits, which is why it\u2019s imperative to shop around and find the right fit. Here is an example summary of benefits to give you an idea of what comprehensive international student health insurance covers.<\/p>\n

Sample summary of benefits (in USD $)<\/h3>\n\n\n\n\n\n\n\n\n\n\n
Maximum Limit<\/td>\nStudent: $500,000; Dependent: $100,000<\/td>\n<\/tr>\n
Maximum Limit per Illness or Injury<\/td>\nStudent: $300,000; Dependent: $100,000<\/td>\n<\/tr>\n
Deductible<\/td>\n$100 per illness or injury<\/p>\n

Student health center: $5 copay per visit<\/td>\n<\/tr>\n

Coinsurance<\/td>\nOutside of the US: Company pays 100%<\/p>\n

In PPO network or student health center within the US: Company pays 100%<\/p>\n

Out of PPO network within the US: Company pays 80% of eligible expenses up to $5,000 then 100% thereafter<\/td>\n<\/tr>\n

Eligible Medical Expenses<\/td>\nAfter deductible is met, company pays 80% of expenses out-of-network (US) or 100% in-network (US) and internationally<\/td>\n<\/tr>\n
Emergency Local Ambulance<\/td>\n$350 per illness resulting in an inpatient hospitalization or injury<\/td>\n<\/tr>\n
Emergency Medical Evacuation<\/td>\n$500,000 maximum limit<\/td>\n<\/tr>\n
Personal Liability<\/td>\n$10,000 combined maximum limit<\/p>\n

Injury to third person: subject to $100 per injury deductible<\/p>\n

Damage to third person\u2019s property: subject to a $100 per damage deductible<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Note that these are just some of the many benefits that you can get with a comprehensive student health insurance plan.<\/p>\n

How much does international student health insurance cost?<\/h3>\n

Even though US health insurance is notoriously expensive, the cost of US international student health insurance plans tends to be more affordable. Students under the age of 25 can pay anywhere from USD $30 to $140 per month<\/a>, depending on the level of coverage. However, prices increase significantly for older scholars, costing around USD $300 a month for individuals around the age of 40. Either way, health insurance in the US is crucial as medical costs in the country are sky-high. Here are some real-life examples<\/a>:<\/p>\n