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Affordable Care Act (ACA)
& College Students
Basic Information You Should Know
1. Your Parents
You can remain on your parents insurance
until age 26 (even if married).
Some college health centers offer an affordable
health insurance plan for students from outside
insurance companies. The plan helps with expenses
that are not covered by your student health fee
(hospitalization, medicines, referrals, surgery, etc.).
Inquire with your campus Health Services to
learn more.
Love, Mom & Dad
2. Student Health Insurance Plan (SHIP)
MARKETPLACE
Also known as the Marketplace, this is a key
feature of the ACA. Shop online to find the
right health insurance plan for you. Residents
may enroll ONLY in plans within his or her
state. You can’t be denied or charged more
due to a preexisting condition.
3. The Exchange
www.healthcare.gov
If you can’t afford insurance, and your income is
within the state mandated range, you may be
entitled to Medicaid or the Children’s Health
Insurance Plan (CHIP). Medicaid eligibility varies
by state, but generally applies to low income
individuals including children, pregnant women, some non-citizens,
and persons with disabilities. CHIP is primarily intended for persons
up to age 19, and eligibility is determined by the Department of
Children and Families or the Social Security Administration.
4. Medicaid and CHIP
There are a variety of options available to
students in the private market. Catastrophic
coverage is a popular option for adults under
30 years of age. This plan is less expensive, and
generally provides coverage for major events
such as hospitalizations or surgery. They may
5. Other Private Insurance Plans
cover up to three primary care visits per year and preventative care
at no cost. They’ll also cover essential health benefits, but ONLY
AFTER you have meet your deductible (no more than $6,350 for an
individual).
Health insurance options available to college students:
What If I
Decide to Not
Get Health
Insurance?
The ACA Penalty Explained
Starting in 2014, the Affordable Care Act mandates that most
people have insurance. However, individuals who earn less than
approximately $10,000 annually are exempt. Many college
students fall into this category. However, if a student is claimed as
a dependent, the penalty is based on the parents’ (household)
income.
The Numbers:
Starting in 2014, the penalty is $95 or 1% of annual income,
whichever is highest.
Penalties will increase each year thereafter.
Q:
What is the premium tax credit?
FAQ’s
The premium tax credit helps low-income
individuals and families afford health insurance.
Uninsured individuals who earn between $11,490
and $45,960 may be entitled to this credit. The
premium tax credit cannot be applied to health
plans purchased outside of the marketplace, and
is based on the parent’s household income if
claimed as a dependent.
Q:
Veterans may be eligible for healthcare
benefits through the local Veterans
Association.
http://www.va.gov/health
Where do I go to determine additional
options for veterans?
Learn more about the ACA at www.healthcare.gov
