NYU insurance waiver guide: How to save $2,371/year?
Attending a US college can be financially stressful. The average fee to attend a private non-profit four-year university is $48,510 per year. For international students, the costs are even higher.
But do you know that you can save up to $2,371 a year with insurance waiver? The enrollment deadline is 9/30/2019.
What is an insurance waiver?
On your tuition bill, you will see that NYU has automatically enrolled you in the university’s Student Health Insurance.
However, international students can enroll in a surprisingly more affordable plan designed specifically for them. Whereas NYU's Basic Plan costs $3,518/year, health coverage for international students can be as low as $1,147/year.
An insurance waiver is an application to switch your plan that better fits your needs. Simply enroll in an insurance plan that meets the school’s waiver requirements and submit an insurance waiver on the school’s website.
Why are alternative health insurance plans more affordable?
The insurance costs are calculated based on the risks of the demographics. University health plans are usually more expensive because the plans serve a broader range of the population, including international and domestic students.
How to pick a health insurance plan?
A good insurance plan protects you from minor illnesses to serious injuries and diseases. When you’re looking for a plan, consider these factors:
The Costs Some plans are much more cost-effective than others. But the cost is the only factor you need to take into consideration. A plan with limited coverage can lead to catastrophic financial loss.
Insurance benefits Read the insurance policies carefully. A good insurance plan should have a low deductible, a high coinsurance, low copays, and a low out-of-pocket maximum.
Provider network Provider network is a group of care providers partnering with the insurance company to provide you with pre-negotiated rates. A powerful network allows you to find trustworthy doctors and hospitals wherever you need.
Can you recommend a good health insurance plan?
Student Medicover, a partner of UnitedHealthcare, offers the most cost-effective and reliable health insurance plans for international students in the market.
Reliable Coverage: Their coverage features low deductibles, high coinsurances, low copays, and low out-of-pocket maximums. Their plans offer substantial coverage for doctor visits, hospital stays, emergency care, prescription drugs, and many other treatments found in the policy brochures.
Find a trusted doctor anywhere in the country With Student Medicover, you can access accredited care providers in the nation’s leading network – UnitedHealthcare Options PPO. You will enjoy lower costs for in-network medical services with pre-negotiated prices.
Visit Student Health Center: Student Medicover offers in-network benefits for treatments received in any student health centers in the country, including NYU Student Health Center.
24/7 Customer Service If you have any questions, you can always ask a customer service representative through email, phone, WhatsApp, Facebook, and online support center.
Here is a brief comparison between NYU Basic and Student Medicover’s plans:
The chart is only a brief overview. Please refer to the policy brochures to learn more about the plans.
How to waive health insurance?
Completing an insurance waiver is very simple. It takes you only 15 minutes.
STEP 1: Enroll in an insurance plan Visit Student Medicover’s website www.smcovered.com, scroll down to “Enrollment”, and enroll in Prime or Elite plan.
STEP 2: Download your confirmation letter and temporary insurance ID card
Click "login" at the top right corner and log in with the email and password you set when you enroll. Click "MY ENROLLMENTS" for your confirmation letter and "DOWNLOAD ID CARD" for your temporary insurance ID card.
Please be mindful that the temporary insurance ID card is for insurance waiver purposes. For official insurance ID card, please refer to smcoverd.com.
STEP 3: Complete the insurance waiver form delivered to your email
After you have successfully enrolled, our customer service team will send the insurance waiver form to you in one business day. Once you have received the waiver form, please make sure the information is accurate. Then fill in your personal information to complete the form.
STEP 4: Submit your waiver form to NYU
Send the completed waiver form to NYU's Student Health Center via firstname.lastname@example.org.
STEP 5: After you have received an approval email, confirm your insurance enrollment
Visit CHP's webiste and login with your student ID and birthday.
Enter your student ID and birthday to confirm your waiver.
After your application is approved, the school will either refund you or remove the health insurance fee on your tuition bill.