Get clear on all the plans.
Students at many colleges today must have a health insurance plan that meets their university’s minimum requirement. Proof of immunizations and insurance needs to be given to FSU or you may purchase a plan – FSU’s plan is through United Healthcare or your student will not be allowed to register for classes. This year’s deadline to purchase health insurance is September 15, 2018.
Deciding on which health insurance plan your student should be on may require a degree in economics. There are so many variables to consider when choosing. You may want to consider consulting with your financial advisor to compare the benefits and cost. Consider the following:
- Does your current health insurance plan meet the university’s minimum coverage requirements?
- Is the monthly premium you pay for your child pre-tax or after-tax?
- Is it marketplace insurance or subsidized and again, does it meet the university’s minimum requirements?
- Does your current insurance cover your student at an out of state college (if your student is coming from another state)?
When purchasing their plan, you are also paying for the university coverage upfront and not monthly as with your own health insurance. Trust me when I say DO THE MATH! There are many decisions that need to be made in regards to health insurance at Florida State University. Any insurance plan must provide coverage through the end of the year/term.
The rates for the FSU plan for a single student averages approximately $195.00 per month if you chose the annual plan. The rates for Spring semester through August 14th averages about $181 per month. If your student is already covered by your own plan, you should consider what your cost is to keep them on your plan. If you have more than one child on your plan, it may not be cost-efficient to remove just one child. Also, consider if you are using pre-tax dollars (Cafeteria Plan or Flexible Spending Account). In addition, if your student is going to be studying abroad, you may want to consider your options on which plan to go with. The guidelines for the various types of coverage can be found here. Below are the waiver and coverage dates required by FSU. These dates are the same every year.
|Term||Waiver must cover from||Waiver must cover through||Open Enrollment Starts||Open Enrollment Ends||Plan Coverage Begins||Plan Coverage Ends||Last Day to Change or Cancel Purchase|
|Annual||August 15||August 14||March 2||September 15||August 15||August 14||September 14|
|Fall only||August 15||December 31||March 2||September 15||August 15||December 31||September 14|
|Spring||January 1||August 14||October 2||January 15||January 1||August 14*||January 30|
|Summer||May 10||August 14||March 2||May 15||May 10**||August 14||June 10|
*Spring/summer coverage is the only option. There is no spring only coverage.
**Summer only coverage is for students beginning their FSU journey in the summer session. The summer premium is not prorated for students attending later summer sessions.
If you choose to purchase FSU’s student insurance, you may want to purchase the yearly plan to be sure your student is covered even when he/she is not taking classes. Then again, this means if you decide to switch your student to the school administered health insurance on an annual basis, then when you sign up for new health insurance for your own needs in November, your student would already be on the university plan. In this case, it may make sense to sign up for the semester.
For information about FSU’s student Health Insurance options, click here. This will also give you further information about a waiver. An FSUID and password are needed to log in.
If you are unsure of which plan makes the most sense for your family and you have a financial planner or a certified public accountant, they can run the numbers for you.