Sticker Shock

[somarco]

Because of a rule in the Affordable Care Act that lifts caps on policy payoffs, the cheap insurance policies typically healthy students previously got are skyrocketing, some over 1,000 percent. The reason: Without payoff caps, insurance firms are boosting prices to cover their potential losses.

One example: a late July email to incoming students from Guilford College of Greensboro, N.C. revealed a jump from $668 to $1,179, a 75 percent jump. The reason stated: "Our student health insurance policy premium has been substantially increased due to changes required by federal regulations issued on March 16, 2012 under the Affordable Care Act."

Obamacare shock: College insurance prices soar | WashingtonExaminer.com

 

[Yagents]

I thought these plans got waivers. Guess not. That's the one good thing about this law, gets rid of LB plans

Is this an example of non GF plans blowing up come 1/1/14'?

 

[somarco]

I believe it is an example of waivers expiring.

 

[Yagents]

Change we hope that changes again. From E health:

However, beginning this year, school-sponsored health insurance plans are undergoing changes intended to bring them into compliance with federal health reform legislation. Historically, many of these plans set strict dollar caps on students' medical care, limiting coverage on a per-diagnosis or per-year basis. These limits are now being raised and will be phased out entirely in 2014. As a result of expanding coverage, however, the premiums charged for some school-sponsored plans may increase in 2012, potentially taking school-sponsored plans off the table for some students.
A recent 2012 provision of the ACA has also expanded coverage for women's and reproductive health care. Beginning on August 1, 2012, all health insurance plans are required to provide broader coverage for women's health services, at no out-of-pocket cost to the enrollee. This includes coverage for most prescription birth control methods. As a result, some religiously-affiliated schools have chosen to drop their school-sponsored plans for the 2012-2013 academic year.

eHealthInsurance.com Investor Relations

 

[GreenSky]

Won't student loans that apparently won't have to be paid back cover this?

Rick

 

[bobson]

Because of a rule in the Affordable Care Act that lifts caps on policy payoffs, the cheap insurance policies typically healthy students previously got are skyrocketing, some over 1,000 percent. The reason: Without payoff caps, insurance firms are boosting prices to cover their potential losses.

One example: a late July email to incoming students from Guilford College of Greensboro, N.C. revealed a jump from $668 to $1,179, a 75 percent jump. The reason stated: "Our student health insurance policy premium has been substantially increased due to changes required by federal regulations issued on March 16, 2012 under the Affordable Care Act."

Obamacare shock: College insurance prices soar | WashingtonExaminer.com

Let me guess, the healthy kids will blow off the requirement and those that have issues will pay the premiums? I wonder what will happen to rates then?

 

[somarco]

Won't student loans that apparently won't have to be paid back cover this?

You may be on to something.

The guys (and gals) that sold college funding plans can now offer health insurance paid for by guaranteed student loans.

Sign them up for a credit card to cover the deductible and OOP and you got a winning combination.

Let me guess, the healthy kids will blow off the requirement and those that have issues will pay the premiums? I wonder what will happen to rates then?

Colleges require proof of insurance when you matriculate. Of course nothing says you can't drop it later.

There is still some underwriting with the student plans, at least there was earlier. Most were written with terms to match the school year. No pre-ex (similar to STM plans) or pre-ex only covered after 6 - 9 months.

Of course the plan terminates around the end of the school year, but you can always get a new policy . . . with a new pre-ex.

Wonder how many of these students, and their parents, would have voted for Obama?

 

[ABC]

I would think going forward that most of the college kids that need coverage can just apply for medicaid?

They have no income or assets.

 

[NCAgent]

I would think going forward that most of the college kids that need coverage can just apply for medicaid?

They have no income or assets.

Only if they don't live with the parents I believe- living on campus doesn't count as being away from the household if I recall. Could be different though per state, and it has been a while since I was on medicaid.

Students can maintain coverage all year round if they go all year round, including the summer time. But yes, EVERYONE needs proof of coverage to go to college. The community college around me offers a very inferior plan compared to the universities around here though, I just expect the same plan to be in all schools rather than the premiums dropping.

 

[bobson]

Only if they don't live with the parents I believe- living on campus doesn't count as being away from the household if I recall. Could be different though per state, and it has been a while since I was on medicaid.

Students can maintain coverage all year round if they go all year round, including the summer time. But yes, EVERYONE needs proof of coverage to go to college. The community college around me offers a very inferior plan compared to the universities around here though, I just expect the same plan to be in all schools rather than the premiums dropping.

I wonder if after 2014 a completed enrollment form (not yet submitted) and a credit card number will be good enough for proof of insurance?