Plans and Requirements
Students at many colleges today must have a health insurance plan that meets their university’s minimum requirement. The University of Central Florida only makes this a requirement if your student is an international student or a medical or nursing student. While this does make life easier in that it can eliminate some paperwork, it is still wise that your student has some sort of health insurance.
UCF does have an available Student Health Plan, underwritten by United Healthcare Insurance Company and serviced by Gallagher Student Health and outlined here should you want to purchase a plan for your student. Regardless, as part of your student’s tuition fees, there is a mandatory health fee of $130 a semester (that you will pay and probably not even know it.)
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 or maybe you are comfortable with a healthcare plan that is paid for as part of tuition. Consider the following:
1.Is the monthly premium you pay for your child pre-tax or after-tax? Will you save money by purchasing a separate plan or perhaps the UCF health fee is as much coverage as you feel your student will need?
- Does your current insurance cover your student at an out of state college (if your student is coming from another state)?
- If your student is already covered by your own plan, 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-effective to remove just one child.
- Will your student be studying abroad?
If you choose to purchase UCF’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.
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.