If you have U-SHIP and will graduate in Spring Quarter, coverage will expire on August 31st. Three-month continuation coverage is available from September 1st through the end of November.
Insurance Options for Life After UChicago
- If you will move directly to a new job, find out if your new employer offers health insurance.
- If you will not be insured through an employer, can you remain on a parent/guardian’s plan? Typically, children can stay on parent’s coverage until they turn age 26.
- Other options: Look for insurance on the federal exchange at healthcare.gov OR check to see if your level of income meets the threshold for state Medicaid. (Note: State Medicaid plans can typically only be used within that state for routine care)
When reviewing alternate insurance plans, consider the following:
- Consider all costs: premium, deductible, out-of-pocket max, co-insurance, co-pays
- Do you have a chronic medical condition that requires regular monitoring/appointments? Do you take medication that you take daily or that requires refills?
- If so, consider how much you will pay for those appointments/medication with each insurance plan option.
- If not, you may be ok with a lower premium plan but will pay more if you seek out medical care or need a prescription.
- Do you see a specialist or know that you need surgery or a procedure? Planning on any life changes, such as getting married or having a baby? Look at the insurance plan to see how much coverage there is for specialty care and surgeries. Review plan options if you need to insure more than one person.
- Do you travel often? Some insurance plans are local/regional plans and will not cover any medical care that is received outside of that geographical area.
- Do you have a primary care provider? If it is logistically feasible to keep that PCP, is that provider “in network”? If that provider is “out of network”, you will pay more to see them.
- When looking at health insurance, not only should you consider if a provider, health system, and/or surgeries are covered, but also what PERCENTAGE of care is covered?
- Does the insurance only cover emergency care? The list of symptoms/diagnoses that insurance considers non-emergent is quite long. For example, if you have a had a rash for a month and want to see a dermatologist, that appointment will not be covered if you only have emergency care.
- Are inpatient hospital stays covered? What about physical therapy? Mental Health services? Prescriptions?
- Review exclusions and limitations carefully!