How medical insurance works
When you purchase health insurance, the money you pay (your "premium") is combined with the premiums of others to form a pool of money. That money is then used to pay the medical bills of participants who need health care. Your coverage remains valid only as long as you continue to pay your premiums.
Once you purchase insurance, the insurance company will give you an insurance identification card for you to use when you seek care from a hospital or doctor.
The insurance company will also provide written instructions for reporting and documenting medical expenses ("filing a claim"). The insurance company will evaluate any claim you file and make the appropriate payment under your policy. In some cases the insurance company pays the hospital or doctor directly; in others the company will reimburse you after you have paid the bills.
Factors while purchasing insurance
When purchasing your own insurance coverage, you should consider many factors.
* The reliability of the insurance company. Does it treat people fairly? Does it pay claims promptly? Does it have staff to answer your questions and resolve problems?
* Deductible amounts. Most insurance policies require you to cover part of your health expenses yourself (your part is called the "deductible"), before the company pays anything. Under some policies the deductible is annual, and you pay only once each year if you use the insurance. Under others, you pay the deductible each time you have an illness or injury. In choosing insurance, you should think carefully about how much you could afford to pay out of your own pocket each time you are sick or injured and weight the deductible against the premium before you decide.
* Co-insurance or copayment. Usually, even after you have paid the deductible, an insurance policy pays only a percentage of your medical expenses. The policy might pay 80 percent, for example; the remaining 20 percent, for which you are responsible, is called the coinsurance or copayment. Thus, if you were injured and incurred $3,000 in medical expenses, a policy with a $400 deductible and 20 percent copayment would cover $2,080 (80 percent of $2,600).
* Specific limits. Some policies state specific dollar limits on what they will pay for particular services. Other policies pay "usual" or "reasonable and customary" charges, which means they pay what is usually charged in the local area. Be very careful in evaluating policies with specific dollar limits; for serious illnesses, the limit might be far too low and you might have large medical bills not covered by your insurance.
* Lifetime/per-occurrence maximums. Many insurance policies limit the amount they will pay for any single individual's medical bills or for any specific illness or injury. Exchange visitors must have insurance with a maximum of no lower than $50,000 for each specific illness or injury, which may be enough for most conditions. Major illnesses, however, can cost several times that amount.
* Benefit period. Some insurance policies limit the amount of time they will go on paying for each illness or injury. In that case, after the benefit period for a condition has expired, you must pay the full cost of continuing treatment of the illness, even if you are still insured by the company. A policy with a long benefit period provides the best coverage.
* Exclusions. Most insurance policies exclude coverage for certain conditions. The J regulations require that if a particular activity is a part of your exchange visitor program, your insurance must cover injuries resulting from your participation in that activity. Read the list of exclusions carefully so that you understand exactly what is not covered by the policy.
* Pre-existing Conditions. Many insurance policies do not cover pre-existing conditions. If you arrive with a condition that will need medical attention, verify the pre-existing aspect of the policy that you are reviewing.
Choosing an insurance policy
Understanding Insurance and choosing an appropriate policy for your specific needs can be complicated. There are many plans, various coverages, options and restrictions. Deciding on a policy that best suits your needs is not always easy.
Relevant questions to ask before purchasing a particular insurance product
1. Is the insurance policy 'Comprehensive' or is it 'Fixed benefits'?
Fixed Benefits policy:
These policies are characterized by various benefit limits for each type of covered medical expense. These benefit limits typically are not the same as the policy maximum.
For example, a policy with a $50,000 maximum limit may feature upto a maximum of $3000 for surgery, upto a maximum of $500 for diagnostic services (X-rays, scans) etc. The maximum amounts for different situations are detailed in the policy brochure. Typically you are required to pay an initial deductible for each injury or sickness and then the plan pays for the rest of the covered expenses.
Scheduled Benefits Plans have the lowest premiums, but the consumer must be aware that the benefits offered are relatively limited as compared to the Comprehensive Coverage Plans.
Examples of Scheduled Coverage Plans include Inbound USA offered by Specialty Risk International and Visitors Care administered by International Medical Group.
Comprehensive Coverage Plan:
These policies typically do not have benefit limits based on the type of medical expense. Usually benefits for covered medical expenses go all the way upto the policy maximum (less deductible and co-insurance).
Typically for all covered medical expenses during the policy period the insured pays the deductible plus 20% of the first $5,000; and then the plan pays 100% of the eligible medical expenses upto the policy maximum.
The details for each policy such as the policy maximum, medical expense eligibility etc. are listed in the policy brochure.
Comprehensive Coverage Plans have relatively higher premiums, but in turn offer better benefits than the Scheduled Benefits Plans.
Examples of Comprehensive coverage plans include Diplomat America, Atlas America, Liaison International and Patriot America.
2. Is the insurance policy renewable ?
Not all insurance policies are renewable. This factor can be relevant if there is a chance that the visitor can extend his travel period. The renewability factor is important in the following manner. If a product is renewable, any ailment that occurs during the initial coverage period will be covered even when the policy is renewed. However if the policy is not renewable, while you can still purchase the same policy a second time, any ailments that occured during the first coverage period will be interpreted as a 'pre existing ailment' and will not be covered in the second coverage period.
3. Does the policy have a provider network, or can you go to any medical practicioner ?
This information will be available in the policy brochure as well as in our compare engine.
4. What is the AM rating of the insurance company ?
The insurance companies are rated by an independent rating company A.M.Best rating. For all the plans, each insurance company's A.M. Best rating is displayed in our compare engine.
5. Will I get a refund if I cancel the policy ?
Some companies do not give any refunds while other refund on a pro-rated basis. This can be important is the visitor cuts short this travel period.
Student Medical Insurance
Student Medical Insurance - Tell a friend
Student Medical Insurance - Bookmark
International Student Health Insurance
Student's age
Student’s spouse age
Maximum coverage
Coverage Period months days
Country of Citizenship Non-US US
Student Medical Insurance is ideal for students who are no longer covered as a dependent under their parents insurance, or who are attending school outside an HMO or PPO region, or find individual medical insurance or other current coverage too expensive.
Student Medical Insurance - Importance
Congratulations on starting an university education! As you begin this exciting chapter in your life, have you ensured that you have a good safety net for the new environment? What if you meet with an accident or fall ill, and your studies are interrupted by circumstances beyond your control?
Every year, thousands of students both in the U.S. and abroad need emergency medical treatment and are unprepared for the high costs involved.
You can remove these worries by purchasing student medical insurance.
Insurance is available for students of all countries. The following are the two categories of policies.
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US Student Health Insurance
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International Student Health Insurance
Short Term Health Insurance plans are ideal for those currently living in the US and in-between jobs or waiting on another plan. It is also applicable for students who have recently graduated from college or anybody else without health insurance.
US short term health insurance plans provide you with coverage from one month to 12 months. If you think you'll need coverage for more than a year then you may want to consider the main-stream US individual and family health insurance plans.
Short-term health insurance plans are designed to protect against sudden accidents or illnesses and they usually do not include benefits for preventive care, physicals, immunizations, dental or vision care. Short-term health insurance plans typically do not cover pre-existing medical conditions.
Assurant Short Term Health Insurance
* Clients can now apply for an additional STM policy, where permitted, even if they have had a claim on a previous plan. Applicant must meet eligibility requirements of new application
* $10 policy fee has been removed whether a client elects to receive the policy via email or paper, the fee will no longer be applicable
* $1 Million to $2 Million coverage for medical expenses
* Freedom to choose any doctor and hospital
* Choose anywhere from 30 to 365 days; daily rates available
* Non US Residents should have resided in the US for at least 12 months
* Plan underwritten by Assurant Health Insurance Company, USA; ranked 'A- (Excellent)' by A.M. Best Company
