Insurance Plan Options
The suggested solutions/products listed below are not endorsed or vetted by Saint Xavier University, but rather are provided as a starting point for the health insurance package selection process. This is not an exhaustive list. Please discuss questions and concerns directly with the company or the vendor. SXU students and their families are ultimately responsible for the outcome of their healthcare plan choices.
Health Insurance Options
Health insurance plans that are run by private insurance companies range from Affordable Care Act (ACA) compliant to non-ACA plans such as catastrophe short term plans. Private plans are usually classified as "individual plans," meaning a single individual or a family can enroll for specified time period. Individuals or families can select from a variety of plans that offer high deductibles and low premiums or vice versa.
Cost of Private Plans
Private health insurance plans are funded by premium payments. Insurance companies should provide information about the frequency and type of payment required for premiums. In addition to premiums, those covered healthcare services will likely also require payments, typically either co-payments (a flat dollar amount fee for a service), co-insurance (a percentage of the fee for a service), or the entire fee for a healthcare service (if the plan requires payment of all costs, aside from preventive care, until a deductible level is reached).
Public health insurance programs are run by the State or the Federal Government. These plans include Medicaid, Illinois Connect, or various options levels on the HealthCare.gov website. There are fixed open enrollment times. However, an individual with a qualifying event (i.e. loss of coverage, marriage) may enroll outside of these fixed enrollment times. There is usually a delay to confirm enrollment. It is prudent to purchase a short term plan for 1-2 months so that there is no gap in coverage.
Cost of Public Plans
Medicaid and other state health insurance plans for low income individuals/families are available at low cost. Some public plans require individuals to pay enrollment fees or co-payments. For the HealthCare.gov federal plans, individuals will need to pay a premium, which will depend on the insurance option chosen. For example, the bronze plan provides a lower level of covered benefits, whereas the silver, gold and platinum plans provide greater levels of coverage and benefits.
This is for domestic (non visa holding students)to purchase individually and for a short period of time; 1-3 months. These plans are not required to cover pre-existing health conditions. Catastrophe plans are designed for short term medical needs but do not qualify for the Federal tax exemption, unless a hardship can be proven for the Federal Internal Revenue Service (IRS).
There are special health care plans designed for international students studying for a short time in the US with or without preexisting medical conditions. International students may also participate in private insurance plans as they provide more covered services.
- International Student Insurance (ISO) Insurance does not cover pre-existing condition.
- Cigna Global Health Options Insurance may not cover pre-existing condition.
- Atlas Insurance available in 4 levels and is renewable annually. There is a 6-12 month waiting period for pre-existing condition.
- Associated Insurance International Plan Insurance may not cover pre-existing condition.
- International Student Travel Insurance
These products are not to be used in substitute of a fully insured plan, but they can assist students while they travel and study abroad. These plans provide the flexibility to choose a maximum coverage limit ($50,000 to $1 million) and also the range of a deductible from $0-$2,500.
Health insurance plans that are run by private insurance companies, in which the employer pays for a portion of the insurance premium.
Cost of Employer Plans
Private health insurance plans require premium payments. The insurance company should provide information about the frequency and type of payment required for premiums. In addition to premiums, the healthcare services that are covered will likely also require payments, typically either co-payments (a flat dollar amount fee for a service), co-insurance (a percentage of the fee for a service), or the entire fee for a healthcare service (if the plan requires payment of all costs, aside from preventive care, until a deductible level is reached).
Health insurance plans that are Affordable Care Act compliant (ACA) mandate that children may stay on the parent's health insurance plan until the age of 26 years.
Cost of Parent Plans
These plans usually are through the parent's employer. Family premiums cost more, but there should be no change in coverage. It is best to prepare to migrate a child to a new plan before the child turns 26 years and can no longer access insurance through a parent's plan.