Healthcare Coverage Options

Dear Student,

Please be aware of options that you have in order to maintain health insurance coverage while attending Loyola.
1) Coverage under a parent’s employer insurance plan: For those under age 26, you may qualify to enroll as a dependent on the health insurance held by a parent. Please contact the employer for further details.
2) Individual coverage through your state insurance marketplace: Coverage is available for individual enrollment through the insurance marketplace in the state in which you are a permanent resident. Visit http://healthcare.gov and complete the questionnaire to view plans that you may qualify for. Depending on your household income, you may also qualify for a subsidy for coverage purchased through your state marketplace.
3) Individual health insurance plans available on the open market (outside of the official state marketplace)

As you consider your options, please keep in mind the following:
• PREMIUM: While many plans offer “cheaper” premiums, look at the deductibles, copays, and coinsurance as lower premiums frequently result in higher out-of-pocket costs and limited networks. Before making your decision, consider your entire potential out-of-pocket cost to determine the best value for your individual needs.
• NETWORK: Does the network for the Plan extend to the New Orleans region? Are the doctors you already see considered in-network? If you are an out-of-state student, pay special attention to networks that offer limited HMO networks as these will likely not cover you in Louisiana.
• DEDUCTIBLE (the amount you must pay before insurance coverage begins): Is this an amount you are prepared to pay before coverage can be accessed?
• COINSURANCE (the amount insurance pays after the deductible is met): Be aware of this coverage as you are responsible for the amount after coinsurance is applied. So if your plan has 70% coinsurance, you would be responsible for the remaining 30%.
• COPAYS: What is your copay for a doctor’s office visit? Specialist visit? ER Visit? Prescription Drugs?