Students at many colleges today must have a health insurance plan that meets their university’s minimum requirement. The University of South Florida does not sponsor a voluntary health insurance plan for the general student body. However, every fall Student Health partners with the USF Health Care Navigators to offer enrollment assistance in the Federal Marketplace. Click here for more information
That being said, it is wise that your student is covered. Deciding on which health insurance plan your student should be on may require a degree in economics. There are many variables to consider when choosing:
1. Does your current health insurance cover your student? If so, consider what your cost is to keep them on your plan.
2. Is the monthly premium you pay for your child pre-tax or after-tax? Will you save money by purchasing a separate plan for perhaps the USF health fee is as much coverage as you feel your student will need?
3. Are the offerings marketplace insurance or subsidized?
4. Does your current insurance cover your student at an out of state college? Or if studying abroad?
You WILL have your student sick or hurt at college. It’s just a matter of time. My daughter had sinus infections, the flu, and bronchitis her first year away. Her suitemate had a concussion from hitting the laundry change machine while bending down (yes, really). We elected to keep her on our plan and it was used a lot!
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).
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.
All health insurance information can be found here.