College life isn’t always associated with the best of health practices. Between socializing, studying, and the occasional all night cram session, for most college students their health is an afterthought. Still, when it comes down to it, like everyone else, students and their parents want to pay a fair and reasonable price for healthcare that works for them, instead of the other way around.

With the implementation of the Affordable Care Act’s major provisions just around the corner on Jan. 1, 2014, there are more options than ever for students’ health insurance.

Let’s examine some of these options.

Mom and Dad: Healthcare Providers

Believe it or not, it’s been three years since one of the ACA’s landmark provisions became law. This provision has so far done the most to increase insurance coverage for the country as a whole. It allows children to stay on their parent’s healthcare plan, until the age of 26, even if they have a pre-existing condition.

For parents weighing the costs and benefits of student health insurance plans, this is by and large the best options for their child’s health insurance. It saves time, money, and resources during college and those crucial post-college years where your child is getting financially situated in the world.

As your child nears the age of 26 though, the ACA will give them plenty of options for solid, affordable health insurance at a good price.

SHP’s: The Benefits of College Life

SHP stands for Student Health Plan, and most accredited colleges and universities have them. SHP’s are healthcare plans offered to students at reduced rates until graduation.

SHP’s have benefitted millions of U.S. students by offering them healthcare, often in conjunction with extensive on-campus health facilities.

Medical services related to pre-existing conditions are normally not covered under SHP’s. However, with the ACA, these plans will have to cover such medical services, as well as a host of other health services mandated by the ACA, such as emergency medical treatment, prescription drug coverage, and coverage for mental health.

The Affordable Care Act will be fully implemented in January of next year, and it looks like students will be all the better because of it.

Catastrophic Insurance: High Risk, Low Cost

Okay, so maybe your child is getting their degree at a 2-year college, or they’re getting their degree online and SHP’s are not an option. They might try a catastrophic insurance plan instead, which is designed to protect your finances in the event of a major medical expense like surgery.

These plans are inexpensive, but they are also risky. Because the plan’s primary function is to protect you financially in the event of a disaster, it turns out to be a very impractical choice. Routine health services, like annual checkups, are not covered with these plans, so the likelihood of catching a health problem early on is slim.

Catastrophic plans will be forced to comply with the ACA’s regulations, which could make them more practical come January, but there may still be better choices out there, especially if you have a pre-existing condition.

Medicaid: An Option?

The terms Social Security and Medicaid are synonymous with low or no income, and old age, two of the factors most generally associated with government and taxpayer funded assistance policies.

So if your child is in college with a job making some money, but not enough to support a family, or to pay for healthcare, even at the low end of the spectrum. What are they to do?

In some states, including NY and NJ, Medicaid eligibility requirements will be changing come October, thanks to the ACA’s optional provision for states to expand their Medicaid programs.

Traditionally, if an individual makes up to 100% of the Federal Poverty Line annually, they are eligible to apply for Medicaid. But the expansion raises that number, to 138%.

Also, you won’t need to have a family anymore to apply, since single adults without kids will be eligible to receive healthcare under Medicaid, in the states that choose to adopt the policy.

The good news: At least half of the 50 states are on board or leaning toward implementing the expansion.

Subsidies: A Way To Save

But what if your child isn’t starving or living paycheck to paycheck? The ACA can still help.

The online marketplaces, which will be up and running in October of this year, will be the place for individuals to purchase insurance under the ACA.

Since individuals are mandated to apply for and receive insurance, lest they pay a tax penalty that will keep increasing every year, it may seem like there’s no way to avoid the high cost of health insurance.

However, the government offers tax subsidies to adults below the age of 65, without dependents. When you sign up for a plan, your payment will be calculated along with the subsidies you can receive based on the above factors, as well as your annual income.

You can even estimate how much you’ll save with your subsidy, using this handy calculator from the Henry J. Kaiser Family Foundation: http://kff.org/interactive/subsidy-calculator/

The Future Looks Doable

The options I’ve explained are just some of the ways that you and your child can find adequate, affordable health insurance for those college years. Hopefully, the trend we’re seeing so far with the ACA will continue and live up to its expectations, so the next generation of students can benefit from it.

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Michael Cahill is the Editor of the Vista Health Solutions Blog. He writes about the health care system, health insurance industry and the Affordable Care Act. Follow him on Twitter at @VistaHealth