The awareness of insurance among Americans is very strong. A family with an annual income of less than $100,000 may purchase a dozen different types of insurance, including commonly used auto insurance, homeowners insurance, health insurance, and life insurance. Almost everyone in the United States has insurance. For those of us studying and living in the United States, many may ask, is it necessary for us to buy insurance in the U.S.? The answer, of course, varies from person to person. The benefits of insurance are undoubtedly significant, but everyone should choose the type of insurance based on their financial situation. Today, I will focus on introducing health insurance and life insurance.
1. Health Insurance
1) Health Insurance for Students
For international students studying in the United States, health insurance is mandatory. The cost typically ranges from $400 per semester to $800 per year. Refusing to purchase it may result in an inability to register normally. It is worth mentioning that the health insurance purchased in one's home country before going abroad cannot be used to cover medical expenses in the United States. Many students say they have purchased life insurance in their home country, but life insurance only pays compensation upon the death of the insured. If one falls ill or has an accident in the United States, only health insurance purchased in the U.S. can provide compensation. As is well known, medical costs in the United States are extremely high. For example, if something gets into your eye and you need to go to the hospital for an eye wash and get some eye drops, the cost can be around $1,000.
Compared to other insurance options available in the market, the health insurance provided by schools is relatively low in cost. However, students need to pay attention to the details when registering. I recommend that everyone carefully read the health insurance manual of the policy they purchase, especially regarding the following aspects:
The premium amount, which is the most critical aspect of insurance. Medical costs in the United States can be limitless. While we do not need to consider catastrophic incidents too much, the insurance should cover common illnesses such as colds and flu. From this perspective, the school’s health insurance should be quite comprehensive.
The coverage dates of the insurance, particularly whether it covers the holiday period, as we know that holidays are a peak time for students to travel, and many students may engage in high-risk sports such as skiing. If injuries occur during this period, it is essential to ensure that health insurance covers it.
The hospitals or clinics covered by the insurance. Most schools have their own clinics, and medical services received at the school clinic can generally be fully reimbursed by insurance. However, due to the limited services and hours of the school clinic, such as not being open during holidays or only diagnosing and treating simple illnesses, students who fall ill may have to seek treatment at off-campus hospitals, which are often more expensive, and the school-purchased health insurance may not fully cover these costs.
Whether the insurance is portable. Transferring schools is quite common in the United States, and students need to clarify whether the health insurance they purchased previously can be refunded or canceled if they plan to transfer schools, or whether it can be transferred to the new school.
It is particularly important to note that while health insurance is mandatory for students, many schools allow students to purchase insurance from external companies. However, this is unfamiliar to many Chinese students, especially those who are new to the United States. Nevertheless, I still recommend that students who are interested and have the time compare both external and internal insurance options and ultimately choose the one that provides the best protection for themselves.
2) General Health Insurance in the United States
Health insurance in the United States is a major expense for both the government and citizens, with a wide variety of options available, making it a complex system. Like most countries in the world, insurance is divided into private insurance companies and social security systems. Many people purchase both types of insurance to ensure broader coverage. For those planning to settle or reside in the United States for an extended period, considering several types of health insurance may be advisable.
