Cheap way to get guaranteed health insurance

[justin]

I've figured out an alternative to getting health insurance coverage through an employer. Get it through your local University.

My local State university, North Carolina State University, has an optional group health plan for all enrolled students. The premiums are $1400/yr individual, $3600/yr husband and wife, and $5000/yr family. The plans are Blue Cross Blue Shield plans that have a $200 deductible and pay 80% of medical expenses. You must be a student to enroll in one of these plans. At NCSU, you could potentially sign up as an undergraduate and take one 3 credit hour course per semester ($542 per semester) for 20 years before you "graduated". They offer many online classes. Many evening classes, even some weekend classes.

If you have existing health conditions that make it hard for you to get reasonably priced health insurance, or you can't get it at all, this may be an option. Yea, you'd have that pesky class to worry about. I personally wouldn't mind learning a little more about some selected subjects I didn't have time for the first time around (more foreign languages, sociology, anthropology, economics, genetics, etc).

I haven't seen any snags in my plan. You may only have to take one class per year, since once you pay for the insurance in August, it runs till August the following year. Just wanted to pass this nugget of wisdom along. If you're 60-ish and trying to bridge the gap till medicare starts up, this may do the trick if you don't mind getting your proverbial learn on.

This plan also assumes you have access to a dirt cheap state university with a group health insurance plan.

Thoughts? Critiques?

 

[Martha]

They really allow you to be eligible if you are a part time student? The university plans I have seen require full time or nearly full time status.

Some of these plans have very low maximum benefits.

 

[malakito]

I'm looking at this seriously for my medical coverage for the next year while I get my MBA. In my case, Martha's right. I have to enroll at least full time; also, the maximum prescription coverage is $400 -- probably not enough for the average 60 year old.

malakito

 

[Martha]

I had another thought. Because university health insurance plans are not "employer" group plans, you don't have any COBRA rights once you no longer are a student.

 

[maddythebeagle]

Going back to school, sounds like work

 

[TromboneAl]

Yea, you'd have that pesky class to worry about.  I personally wouldn't mind learning a little more...

Where does it say you have to go to class?

 

[wildcat]

Going back to school, sounds like work

Ha! I don't get paid

I got health insurance from the university as a full-time grad student.  They offered me two options: 1) high deductible/catastrohpe or 2) bells and whistles.  It is cheap.  May not be as attractive for older retirees but it may be for healthy ERs (a class all by itself).  

I don't think they offer it for p-t students.  Med facilities are pretty solid.  No complaints.  

Where does it say you have to go to class?

As long as you have a full-time course schedule that is

 

[mounain mike]

Here is what it said in the catalog of a local university:

Student Health Services - 40
Health Center Building

The nationally accredited Student Health Center offers a comprehensive range of primary care services and health education programs to all registered students. Totally funded by students through the mandatory health fee, the Student Health Center offers:

Convenient, accessible care
Affordable, low-cost care
Personalized care
High patient satisfaction
Privacy and confidentiality
A variety of health care professionals such as doctors, nurse practitioners, nurses, medical assistants, pharmacists, clinical laboratory scientists, health educators, and medical clerical personnel staff both the Health Center and the satellite clinic in Stockton. In caring for the whole student, the staff strives to enhance students’ physical and emotional wellness to contribute to their academic and career success.

Specific services include:

Preventive services
Immunizations and TB screening
Men’s and women’s health (physicals, pap smears)
Cholesterol screening
Blood pressure monitoring
Primary medical care services
Treatment of illness and injury
Minor office surgery
Health education and wellness programs
On-site Laboratory and Pharmacy services
Supplemental student health insurance
A low-cost group policy to cover major accidents, illnesses or referrals to specialists for conditions not within the scope of health center personnel
Provisions for family and dependent coverage
Opportunities for student involvement
Student Health Advisory Committee (SHAC)
Peer Health Educators

 

[dougdo]

Where does it say you have to go to class?

Well you wouldn't neccesarily have to go to class but you'd have to pass your classes or they'd kick you out possibly quicker than you'd like.

 

[haha]

I know someone who has taken one course each fall, and signed up and paid for 12 months of health insurance. She repeats the next year. If you got horribly sick you might run out of coverage, but for America it isn't bad.

Three credit hours, one trimester.

Ha

 

[Marshac]

Thoughts?  Critiques? 

I'm really not sure how I feel about this idea. I'm sure it would work, but if too many aged people do this, then the cost of the health plans will inevitably rise.... especially if some of the new 'students' have very expensive chronic/acute conditions. In an era of double-digit tuition increases, how much more can students afford to pay? Sure, 'you' may technically be a student, but i'm talking about all those 18-22 year olds that you would also like to graduate, get a job, and pay for your SS benefits.

If you want to try this, go ahead- just don't tell anyone else about this idea. Coupled with the fact that many universities will offer up to 3 credits/quarter for FREE to seniors, this could become a very bad win(seniors)/lose(youth) situation.

 

[wildcat]

Funny but you should only do it if you want to take classes. Drop several grand for school + books but hey you get health insurance.

 

[Marshac]

I think this is a great idea.  It is ideas like this that are going to help me meet my retirement goals.  I was thinking about becoming an adjunct professor when I retire, just for fun.  I wonder if they have insurance for adjunct professors?

The correct term is 'adjunct faculty'- A 'professor' is the top of the academic food chain. Having worked for a bit at a university, I found that the QUICKEST way to get on someone's bad side is to get that wrong As a student, I tought everyone was a 'professor'.... as a 'staff', I quickly learned how naïve I was.... quite the academic caste system! Also, if you're not in the upper echelons of academia, you obviously have nothing valuable to contribute

professor*
associate professor*
assistant professor*
instructor (faculty)+
adjunct faculty+

* is usually a tenure track and usually require a PhD at the 4 year level
+ is usually a non-tenure track position, usually requires a masters

 

[justin]

From my preliminary research, here's what I found.

Wildcat,

At my local university, the cost, as I stated, is $542 for one class. Not thousands. As to minimum number of classes you have to take, our plan eligibility says "enrolled students" are eligible. This is distinguished from continuing education/Lifelong Education students that must take at least 9 credit hours.

The Student Health Services is part of the university you pay for through your student fees. My idea revolves around the supplemental voluntary insurance you can purchase. The benefits are almost identical to the standard BCBS Blue Options plan you can buy as an individual.

Martha,

The rates I quoted were for $1,000,000 lifetime maximum. They also sell a $100,000 lifetime max plan for a little less. COBRA - probably not likely to get it.



Yes, you'd have to complete your classes to some degree of satisfaction to stay enrolled. Get a C? D? I'm thinking, how hard would it be to take History 101 and get a C? I think the biggest problem would be the classes. If you didn't mind doing to bare minimum to scrape by, it probably wouldn't be too bad. You don't have to take thermodynamics or differential equations or anything. I'm talking about tennis, underwater basketweaving, socioeconomic dimensions of gender slavery, those kinds of classes.

This was just an interesting idea I came up with and thought it might kickstart a few creative minds to find interesting ways to solve the health insurance problem during ER. I may even use it to insure my family while I'm legitimately in school right now. "Unfortunately" it may take me a decade to graduate though...

 

[wildcat]

At my local university, the cost, as I stated, is $542 for one class. Not thousands. As to minimum number of classes you have to take, our plan eligibility says "enrolled students" are eligible. This is distinguished from continuing education/Lifelong Education students that must take at least 9 credit hours.

That would good in your case. $1000s in my case to be a full-time prisoner.

 

[MJ]

Going back to school, sounds like work

It also sounds expensive, did someone forget about tuition. Most colleges ain't free.

 

[TromboneAl]

but you'd have to pass your classes or they'd kick you out...

OK, how about you sign up for a class for a subject that you're an expert in, and find out when the final exam is?

 

[Mr._johngalt]

I still think it would be easier to have a "business" and join an
"organization" offering health insurance to it's members. The main
advantage to this is you wouldn't actually have to do any work
(or very little). We still may opt for this system.

JG

 

[Martha]

Beyond the fact that most schools require you to be a full time student, I see one significant issue, the one HaHa hinted at. Your enrollment runs for one year and then you re-enroll if you are still eligible. If you became seriously ill, it might make it difficult to continue the student status. Since you are not Cobra eligible, you would be left without insurance.

Justin, I am impressed by the lifetime maximums offered by your school's plan. Are you really sure you could get by with only one 3 credit class? What is the definition of an "enrolled student?"

 

[REWahoo]

Beyond the fact that most schools require you to be a full time student, I see one significant issue, the one HaHa hinted at. Your enrollment runs for one year and then you re-enroll if you are still eligible. If you became seriously ill, it might make it difficult to continue the student status. Since you are not Cobra eligible, you would be left without insurance.

Justin, I am impressed by the lifetime maximums offered by your school's plan. Are you really sure you could get by with only one 3 credit class? What is the definition of an "enrolled student?"

I checked into this at a local university prior to retirement, thinking it could be an insurance option. Turned out it isn't:

- "Enrolled student" = 12 semester hours
- Lifetime maximum of $500,000
- No COBRA

Plus some interesting limitations such as no coverage for organ transplants and a maximum of $500 per year for sexually transmitted diseases...

 

[TromboneAl]

a maximum of $500 per year for sexually transmitted diseases...

Was that the showstopper for you?

 

[justin]

I just called Hill Chesson, the agent that administers the Univ. of N.C. at Chapel Hill, NC State University, and Duke Univ. optional health insurance plans. I told them my current situation, I'm taking 3 credit hours. They said as long as you're a "degree seeking" student according to the university, you're eligible to enroll in the health insurance plan. There is no minimum number of hours. So, for one year of tuition and the health ins. premiums, it would cost around $200/month. Not bad for low deductible insurance. I don't think you could beat that even if you were healthy at 50-60 years old. I just checked a quote for a similar BCBS individual plan, and the premium is around $350/month for a 56 year old male. If you are in great health and you're lucky enough to get that rate.

And remember, there are no qualifications based on health that you have to meet to sign up for the University plan.

I think the usefulness of my scheme depends on the availability of a local university and the costs of tuition and the benefits and costs of their insurance plan and all their requirements. I'm pretty sure it is feasible where I live.

JG,

I'm interested in finding out more about the organizations you're talking about joining to get group insurance for running a small business. Can you drop a name or two so I can look them up?

 

[Marshac]

I'm interested in finding out more about the organizations you're talking about joining to get group insurance for running a small business.  Can you drop a name or two so I can look them up? 

Costco

 

[justin]

Costco

Link didn't work, but I found the page through google by searching on 'costco health insurance'

This is only available in five or six states it looks like. I also wonder about the scope of the network of doctors available. It also gave me a quote of over $400 each for two 55 year old employees. Ouch. That isn't cost competitive with my university ins. plan. And there would be medical underwriting I presume, so those rates could go up.

I guess I'm wondering if there is cheap, guaranteed issue insurance available through a group policy somewhere.

 

[Martha]

Justin, I am impressed by the student health insurance available through NC state university. I went to the web site at http://www.hillchesson.com/ncsu.htm and confirmed that to be eligible you have to either take 9 credits in the fall or be a degree seeking student. There doesn't seem to be any underwriting for medical conditions. The price is great. The risk is that enrollment is only year by year and the rules might change for the following year, as well as the risk of not being eligible for the following year and stuck with no COBRA. Though you do have HIPAA rights.

Interesting.