Insurance Consumer Advocate Sean Shaw Advises Students on Their Health Care Options Part II - Graduate Students

Department of Financial Services, Consumer eViews Volume 7 Number 35

August 27, 2010

Sean Shaw, Insurance Consumer Advocate

During these tough economic times, many adults have decided to return to school and further their education. As mentioned in the previous installment of this series, beginning September 23, 2010, young adults under the age of 26 can remain on their parent’s health insurance plan. This applies as long as a job-based health insurance plan isn’t available to the young adult.

Unfortunately, not all graduate students are under the age of 26. Therefore, many graduate students have different health insurance concerns than undergraduate students. Thus, the Office of the Insurance Consumer Advocate would like to share the options available to graduate students.

Graduate students that have families and find themselves in need of health insurance should consider the following:

• Married graduate students, who have an employed spouse, should consider obtaining coverage through their spouses’ job-based plan.
• Graduate students that are supporting a family of four and have a current income of $45,000 or less may be eligible for Medicaid.

Single graduate students over the age of 26, should consider the following when obtaining health insurance coverage:

• Many colleges and universities require that students are covered under a health insurance plan and have plans available to students. While some of these policies are limited, others provide more comprehensive coverage. Thus, graduate students should contact their school for more information regarding the coverage options available at the school. Graduate students should also read the pre-existing conditions restrictions as they may start over each year.
• Graduate students can also purchase an individual insurance policy. Consumers should be aware that although individual policies are available, they are typically expensive. Therefore graduate students should explore all options prior to obtaining an individual policy.

Consumers that have any additional questions regarding health insurance coverage for graduate students should contact the Division of Consumer Services within the Department of Financial Services on-line at http://www.myfloridacfo.com/Consumers/ or by phone at 1-877-MY-FL-CFO (1-877-693-5236), toll-free in Florida, and (850) 413-3089 from out of state.

The Insurance Consumer Advocate is appointed by Florida CFO Alex Sink and is committed to finding solutions to insurance issues facing Floridians, calling attention to questionable insurance practices, promoting a viable insurance market responsive to the needs of Florida’s diverse population and assuring that rates are fair and justified.