• zInternationalStudents Blog

  • Saturday, February 16, 2019

  • Student Insurance Can Even Net You Extra Money!

    Filed Under: Health Insurance

How would it be if you not just got better international student health insurance outside, but your college paid you for it too? Like icing on the cake? That’s what you might be eligible for, if you waive the college-sponsored plan in some colleges in the United States!

The way university or college-sponsored insurance works is that part of the insurance premium is negotiated and paid for by the college itself. However, coverage and terms of the college-sponsored foreign student insurance is usually more restrictive than outside insurance.

Some colleges encourage or reward graduate students who opt out of the college-sponsored plan, by providing a cash benefit or a cash buyout. For example, Brown University provides a $400 buyout for graduates who waive the college-sponsored plan. Colleges are prepared to buy out students who can prove comparable coverage because the less number of students the college has to cover, the less amount it spends on subsidy.

However, colleges may have their own conditions and deadlines for the waiver, and it is best to check whether your institution offers a buyout, and if so, its terms and conditions. If it does work out, though, it’s double advantage for you!
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