How to choose best plan

There are many insurance companies which provide tailored plans to students. It is important to check whether the coverage provided meets or exceeds the minimum plan prescribed by the university. Usually in such plans you can get the treatment done by paying a small co-pay, and the insurance company is billed directly by the doctor or hospital. These plans are often cheaper than university affiliated coverage.
Most of international students prefer waive their school insurance and get inexpensive one however, many students passed over important things to be considered before buying health insurance.

When you buy for health insurance, you should consider about several conditions and premium.
And then check up the PPO network and international claim service networks in case of accident during your trip.

FIRST

Co-insurance charge

Co-insurance charge

Co-insu is the amount, will be paid by your insurance company if 100% of co-insu, your charge is nothing.

And 80% of co-insu means that company will pay 80% and you must pay the rest(20%) therefore you should choose 100% co-insurance.

SECOND

Deductible

Deductible

Deductible will be charged to you before co-insurance, is not charged per visit medical facility or doctor but charged per injury or sickness. If you get $500 of medical bill and Deductible is $100, you should pay $100 and the company will pay for the rest ($400), therefore you should choose less than $100 of deductible.

THIRD

Limitation (Cap)

Limitation (Cap)

Some plans have sufficient coverage and low deductible, which always meet the waiver condition of many schools However there might be several deficiencies like CAP. If your plan has a limitation, Max $1,000/day of surgery or Max $500/day of Intensive care, it is an inadequate coverage.

Let’s look into claim record of international students in U.S and then choose a reasonable waiver plan against school insurance. One in six students has a claim for medical services and the 16% students claimed medical services approximately three times per year.

There are similar ratios between accident and sickness claims but sickness claims were a little more than accident claims and the average medical bill of them was $2,700. When this claim.

When we apply above record to Chinese student in U.S, we could get a very interesting results as below

  • Provided I, Chinese students in U.S are 160,000
  • Provided II their insurance plan have the condition of co-insu 80%, out-of-pocket Max $5,000, Ded $100(Usual conditions)
5 Claimant groups A B C D E
Claim amount range Over $50,000 $10K ~ 50K $1K~10K 400~1,000 0~400
Proportion 0.07% 0.57% 5.10% 5.23% 5.70%
No of students 112 912 8,160 8,368 9,120
Average claim amount 66,000 23,176 4,285 759 230
Student’s pay 5,000 4,715 937 232 126
Gross claim amount 7,392,000 21,136,512 34,965,600 6,351,312 2,097,600
Group/Gross claim amount 10% 29% 49% 9% 3%
  • 5% of all student paid over $1,000 of extra charge (Co-insu, Copay, Deductible)
  • 912 students(B group) paid almost $5,000 of extra charge

In a conclusion, you should check up these tips to get an appropriate plan.

  1. 100% of Co-insurance condition?
  2. Under $5,000 of Out-of-pocket money?
  3. Under $100 of Deductible per sickness or $500 per policy year
  4. If there is a day of limit? Is it enough?
  5. Claim of outside USA?
  6. Reasonable premium?

Chinese student Health Insurance Plans in USA

Choose Best Plans as per your Budget