NPR’s Big 5 Health Issues Facing Students – Supports Need for Tuition Insurance

By John Fees on September 5, 2010 – 2:48 pm

National Public Radio created a fantastic summary of the Big 5 Issues facing students on campus.   NGI’s GradGuard recognizes that these health issues are also real potential risks that may interrupt an academic semester and also lead to a medical withdrawal.    These “Big 5″ reminders by NPR are another independent source recognizing the risks to the investment college students and their families make to support them.   Thanks to NPR for providing another argument for college families to consider once again the value of purchasing tuition insurance.

Tuition insurance is not only to provide a refund in the case of an academic loss, but it provides flexibility for a family considering the best academic alternative and personal health considerations for their student.   Given the scope of risks outlined by NPR, GradGuard’s tuition insurance is a prudent alternative that may enable families to make a decision for their student independent of the financial consideration.

Please read the entire NPR article here http://t.co/gv2VJ9m or read on for some of the highlights.

“This time last year college kids were stressing out about swine flu, hard as that is to believe in hindsight. With students streaming back to campuses, we wondered what health concerns are topping the agenda now….. Dr. Al Glass, president of the American College Health Association, and the heads of health services at some colleges around the country to get a bead on what students face this time around.   Here are their top five issues:

1. Mental Health

“Mental health issues in a broad sense certainly remain a primary issue,” Glass says. Stress is a biggie.

2. Sleep

All-nighters and good health don’t mix. Students should pay more attention to getting enough sleep.”College and university students tend to keep schedules that are really different from people who are out having jobs in the world,” Glass says. Unfortunately, that’s nothing new. Only 11 percent of college students in a sample of 191 undergrads had good quality sleep, a 2001 study in the Journal of American College Health found.

3. Infectious Disease

Although some students died from swine flu last year,”it didn’t turn out to be the pandemic of illness that people were worried about,” says John H. Turco, director of the Dartmouth College health service.  Glass says infectious disease is a perennial concern. There’s no particular bug on the radar this year, but “exposure to other infectious illnesses — colds, upper respiratory infections, influenza” are inevitable.

4. Exercise

Weight problems are everywhere, even college campuses. So what else does the CDC recommend? Exercise. Adults should be active at least 2 1/2 hours a week. But some students may not be getting enough. Glass says too many college kids aren’t heeding the advice and warns that college students aren’t immune to the obesity epidemic.

5. Alcohol

Glass says a discussion about college health wouldn’t be complete without talking about alcohol use.”If [students] would make the decision to drink in college — which, certainly, we’re all aware a large number of them do — to make those choices about what to drink, how much to drink those kinds of things need to be optimally made in a very responsible way,” Glass says.

According to the National Institute on Alcohol Abuse and Alcoholism, about 4 in 5 college students drink. And when asked, 2 in 5 say they’ve been on a drinking in the past few weeks. Nearly 600,000 college students are injured while under the influence of alcohol each year.”

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WITH COLLEGE BACK IN SESSION, PARENTS AND STUDENTS SHOULD TAKE AN INSURANCE INVENTORY TO ENSURE THEIR EDUCATIONAL INVESTMENT IS PROTECTED

By admin on September 2, 2010 – 2:55 pm

NGI aims for its services to be educational.   As a result, GradGuard recently suggested that college parents and students take an inventory of the insurance that may help them reduce the harm that results from real risks surrounding college life.

Although, people often think of insurance as most important to someone at midlife, with a home and family to protect. In fact, insurance is something that college students should inventory with help from their parents.  Even seemingly small events – like a stolen laptop or mono – can impact a family’s financial well-being and a student’s academic success.

Renters: Students living on- or off-campus can protect their personal items like computers, bikes, jewelry and other valuables with an inexpensive renters policy that covers theft, fire and weather-related destruction. Although parents’ homeowners policies may offer coverage for student renters, they typically carry a high deductible and may have coverage limitations for part-time students. GradGuard’s renters insurance not only includes personal property protection with replacement cost but also provides personal liability coverage. The average cost is less than $150/year, including up to $10,000 property coverage, $50,000 in personal liability and a $100 deductible. (www.GradGuard.com/renters)

Tuition: According to a 2009 study by Student Monitor, 27 percent of students had to, or knew someone who had to, withdraw from college mid-semester due to health issues or a death in the family. Until now, tuition insurance was typically available only at select private colleges and universities, and many school’s refund policies only cover withdrawals within the first five weeks of the semester.  GradGuard’s tuition insurance program (www.GradGuard.com/tuition) provides up to $50,000 of annual tuition insurance for the non-refunded financial loss associated with the cost of attending college. The GradGuard plan is available to students nationwide and covers verifiable losses connected to the cost of attendance.  This includes not only the loss of non-refunded tuition payments, but also academic fees, room and board, books, and travel to and from the academic program. Rates start at $19.91/month for $5000/term or $10,000/annual coverage.

Health: A 2009 eHealth research study found that only “three in five (60%) college students are currently covered either by their parents’ health insurance plan or a health insurance plan paid for by their parents.”   Until now, the remaining students, particularly the more than 6.5 million students attending two-year or community colleges, have had few relevant alternatives to address the financial risk associated with student accident and illness. The GradGuard™ Student Health Plan (www.GradGuard.com/health) provides broader accident and sickness benefits than many limited coverage school sponsored policies.  The GradGuard Student Health Plan, also available through eHealth, includes tuition refund insurance, and is the only plan of its kind available nationwide to any student attending any accredited college or university.  The annual cost ranges from $1464 to $1848 depending on the deductible.

Identity Theft Protection & Resolution: According to the 2010 Identity Fraud Survey Report released by Javelin Strategy and Research, more than 11 million people became victims of identity theft in 2009. Young adults aged 18-24 took the longest to detect identity theft —132 days on average — when compared to other age groups. Subsequently, the average cost ($1,156) was roughly five times more than amounts lost by other age groups. An Identity Theft Protection & Resolution plan, like the one included in GradGuard’s Student Protection Plan, helps protect against certain types of identity theft and aids in the resolution if one becomes a victim.  The cost of this coverage is included in GradGuard’s tuition insurance plan.

Emergency Medical Evacuation: Emergency medical evacuation is important for any student living away from home or studying abroad. If a student becomes seriously ill or has an accident while on spring break or studying abroad this type of insurance will help bring the student home or to the nearest medical facility near home.  This coverage is included in GradGuard’s Tuition Insurance, Student Protection Plan, and student health insurance plans.

This inventory can be helpful to all college families as well as any person evaluating how to mitigate the risks facing their lives.

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Policy available to cover tuition loss if you quit school early

By John Fees on August 24, 2010 – 9:25 pm

It is not every day when a news article captures the big idea and the specifics at the same time, so when someone does it is worth point out.   The only thing wrong with the article was the headline – but that isn’t the authors responsibility.   It is important to note that NGI’s tuition insurance by GradGuard is not “drop-out” insurance.     The GradGuard tuition insurance plan protects families for the loss related to the unexpected withdrawal from school that is a result of injury, illness or even death.

Please see the entire article by Valerie Whitney from the Daytona Beach News Journal at    http://bit.ly/aY1JGx

In the mean time, here are some highlights and insights that she shares about the value of tuition insurance.

Aug 22, 2010

By VALERIE WHITNEY, – DAYTONA BEACH — Not everyone who heads off to college will complete a degree.

“Serious illness, death of a loved one and other unpredictable occurrences have led to students withdrawing and leaving institutions — usually without any reimbursement.

“Life happens,” said John Fees, CEO of Next Generation Insurance Group.

Fees’ company hopes to lessen the financial sting of quitting college with tuition-reimbursement insurance.

The idea behind the insurance is not new. A.W.G. Dewar Inc. of Quincy, Mass., began selling tuition-reimbursement insurance in 1930 and remains one of the biggest sellers. But Dewar’s plan is aimed at families with children in private college and universities.

Next General recently began offering GradGuard, a national group policy available to students at any college. The program provides up to $50,000 of annual tuition insurance for the nonrefunded financial loss associated with attending college. Included in the package also is coverage for identify theft, emergency medical evacuation and even personal-computer coverage. The cost is $239 a year and up, depending on the level of coverage.

“It’s a great product. We feel there was a real need out there,” Fees said in a telephone interview from his office in Phoenix.

Until now, the family investment in tuition and related expenses — which averages about $15,000 for a public college and $35,000 for a private college annually — was a gamble, he said.

The GradGuard program covers verifiable losses connected to the cost of attendance. This includes nonrefunded tuition payments, as well as academic fees, room and board, books and travel to and from campus. The plan is available for undergraduate or graduate programs and can be purchased at any time, but it must be for an accredited institution.

Next Generation developed the program for College Parents of America, a national organization made up of current and future college parents.

“Not all families need $50,000 of annual coverage, but nearly every student would benefit from having at least $5,000 of annual coverage. Even if a college has a generous refund policy, it is unlikely a student will ever be refunded the cost of academic fees, books or room and board,” said James A. Boyle, president of College Parents of America.”

Congratulations to Valerie for doing here research and finding out the rest of the story related to the value of tuition insurance for college students and their families.

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Twenty-Somethings

By John Fees on August 23, 2010 – 9:17 am

NGI Group was organized about serving the next generation of insurance consumers while also applying the next generation of insurance marketing tools.

So this weekend’s article in the New York Times Magazine What Is It About 20-Somethings is particularly interesting.   The discussion for insurance marketing is profound.   How will this generation manage and view risk?   How will this generation evaluate ways to mitigate risk – be it changes in behavior or the purchase of insurance.   And – importantly – who will influence the decisions they make.  Will it be friends, family, media or a combination of all three?

The article reports, “the 20s are a black box, and there is a lot of churning in there.

  • One-third of people in their 20s move to a new residence every year.
  • Forty percent move back home with their parents at least once.
  • They go through an average of seven jobs in their 20s, more job changes than in any other stretch.
  • Two-thirds spend at least some time living with a romantic partner without being married.
  • And marriage occurs later than ever. The median age at first marriage in the early 1970s, when the baby boomers were young, was 21 for women and 23 for men; by 2009 it had climbed to 26 for women and 28 for men, five years in a little more than a generation.

We’re in the thick of what one sociologist calls “the changing timetable for adulthood.” Sociologists traditionally define the “transition to adulthood” as marked by five milestones: completing school, leaving home, becoming financially independent, marrying and having a child. In 1960, 77 percent of women and 65 percent of men had, by the time they reached 30, passed all five milestones. Among 30-year-olds in 2000, according to data from the United States Census Bureau, fewer than half of the women and one-third of the men had done so. A Canadian study reported that a typical 30-year-old in 2001 had completed the same number of milestones as a 25-year-old in the early ’70s.”

The New York Times says it better with thousands of words than this summary, but this paragraph also helps summarize the main point.

“Our uncertainty about this question is reflected in our scattershot approach to markers of adulthood. People can vote at 18, but in some states they don’t age out of foster care until 21. They can join the military at 18, but they can’t drink until 21. They can drive at 16, but they can’t rent a car until 25 without some hefty surcharges. If they are full-time students, the Internal Revenue Service considers them dependents until 24; those without health insurance will soon be able to stay on their parents’ plans even if they’re not in school until age 26, or up to 30 in some states. Parents have no access to their child’s college records if the child is over 18, but parents’ income is taken into account when the child applies for financial aid up to age 24. We seem unable to agree when someone is old enough to take on adult responsibilities. But we’re pretty sure it’s not simply a matter of age.”

So NGI’s conclusion is to participate in the market.   Test and try everything.   Adapt quickly with relevant product designs and branding approaches.   Be convenient and offer flexible alternatives.

You can see this in NGI’s approach to GradGuard – where we have built a solution featuring both P&C and Health and Life products appropriate for the collegiate life-stage.  GradGuard includes tuition insurance, student health insurance, college renters insurance, travel insurance, and more.    You also see the approach in  MassDrive where the business provides choice to consumers looking for auto insurance while also providing online quoting tools and convenient 24/7 access.

Stay tuned for more insights regarding opportunities to serve the next generation.

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A lesson in health insurance for college students

By John Fees on August 20, 2010 – 12:35 pm
Next Generation Insurance Group believes in the value of education and works to make sure that each of its consumer sites offer insights into the products we offer.    It is hard for most news stories to do an adequate job of describing the nuances surrounding insurance and ways to mitigate risk, but sometimes reporters do an outstanding job.   Today Sandy Block of USA Today did such a job.   As a result, today’s post is not only worth linking to and sharing directly, but also sharing in detail.   As a result, please see today’s story from USA Today on the options for health insurance for college students.
NGI Group’s GradGuard is mentioned within the story as a good alternative for students.   We are pleased for the recognition.  What is also true is that eHealth, also mentioned in the article, will also gladly direct students to purchase the GradGuard student health plan. The article highlights the strengths of the GradGuard student health insurance program, but  failed to mention that the GradGuard student health plan also includes $5,000 of tuition refund insurance as well as emergency medical evacuation insurance.   Both of these features are not only relevant but worth hundreds of dollars if students purchase them separately.   So when comparing plans look at benefits, costs and the added extras such as tuition insurance and emergency medical evacuation insurance which are both well designed to meet the needs of college students.
Please read the complete article from USA Today here.  http://usat.me/39772372   Here are some of the highlights:

By Sandra Block, USA TODAY -
“Here’s a look at your options:•Your parents’ employer-provided plan. More than two-thirds of college students are covered by their parents’ plans, and even more could be eligible for that type of coverage next year. Under the health care reform bill signed into law in May, college students and other young adults who aren’t covered by an employer-provided plan can remain on a parent’s plan until age 26.

For insurance plans that operate on a calendar-year basis, the requirement doesn’t take effect until Jan. 1, 2011, but some large insurers have extended coverage ahead of the deadline.

•Your college’s health insurance plan. More than half of colleges and universities sponsor their own health insurance plans for students, according to a 2008 report by the GAO.

Pros: If you don’t have access to a parent’s plan, your college’s plan could offer a low-cost source of coverage. Annual premiums for student health insurance plans range from $30 to $2,400, and the average premium is about $850, the GAO said.

Cons: School-sponsored plans do a good job of handling immunizations, colds and flu, because their priority is to keep diseases from spreading across campus, says Joel Ohman, a financial planner and founder of Insurance Providers, an insurance brokerage website. But in many cases, he says, they don’t do a good job of covering major medical problems.

For example, many college plans analyzed by the GAO had coverage limits for specific conditions. More than half of the plans had a maximum benefit amount of $30,000 per condition, and 35% had a cutoff of $50,000. Either limit could leave you on the hook for thousands of dollars if you developed a serious illness.

In addition, some plans contained additional caps on the amount they would pay for a specific service or set of services, the GAO said. For example, one plan limited lifetime coverage for all outpatient services — including doctor’s visits, X-rays, lab fees and chemotherapy — to $1,200 per condition, the GAO said. A student diagnosed with cancer could hit that limit on the first day of treatment, Liang says.

In April, New York Attorney General Andrew Cuomo charged that many school-sponsored plans provide generous profits to insurance companies while putting students at risk. An investigation by Cuomo’s office found that, in addition to low

coverage limits, some plans excluded students with pre-existing health problems, or charged them a higher premium. Others failed to cover prescription drugs or placed limits on drug coverage, Cuomo said. And some plans had per-illness caps as low as $700, Cuomo said. Cuomo’s office looked at 65 policies offered by colleges and universities in New York, along with some out-of-state schools
attended by New York residents.•Individual insurance plans. These plans are available through websites such as eHealthInsurance.

Pros: Premiums for young, healthy adults are usually affordable — as low as $600 a year in some cases, Liang says. You may have a wider choice of providers than is available through your school’s health plan. And if you won’t be eligible for your parent’s plan until next year, an individual plan could provide short-term coverage at a relatively low cost.

Some insurers are offering individual plans targeted at students who don’t have insurance through their parents but aren’t happy with their school’s plan. College Parents of America, a Virginia-based non-profit, recently launched GradGuard, an individual

insurance plan that offers broader coverage than most college plans. The plan covers up to $500,000 per condition. Annual premiums range from $1,464 to $1,848, depending on the deductible.You can find more information about individual insurance plans and other options for the uninsured at HealthCare.gov.”
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Young Adults Slowest to Respond to Theft of Personal Financial Data

By admin on August 19, 2010 – 10:22 am

NGI Group has created GradGuard as a solution to help mitigate the risks facing college students and their families.   According to the 2010 Identity Fraud Survey Report released by Javelin Strategy and Research, more than 11 million people became victims of identity theft in 2009. Young adults aged 18-24 took the longest to detect identity theft—132 days on average—when compared to other age groups. Subsequently, the average cost ($1,156) was roughly five times more than amounts lost by other age groups.

GradGuard has recognized that ID Theft and privacy of college students is a major concern and risk.   As a result, we have included ID Theft & Resolution services within the GradGuard Student Protection Plan. The probability for young adults becoming a victim of ID Theft is high, it is also important to recognize that the potential financial risks from losing your tuition investment or having an accident or illness is even higher.    As a result, GradGuard’s Student Protection Plan includes tuition refund insurance, ID Theft & Resolution service and Emergency Medical Evacuation benefits.   So bottom line, protect yourself from ID Theft, but withone purchase get greater peace of mind for the incidents that may interrupt your students education.

For more insight, please read the article follows by By Howard Schwartz from the Connecticut BBB which Offers Tips for College Students to Protect Themselves Against ID Theft.

“Many young adults only learn how to handle their finances once they begin paying bills accumulated in college, however they often do not learn about preventing or discovering identity theft until they become victims. According to the 2010 Identity Fraud Survey Report released by Javelin Strategy and Research, more than 11 million people became victims of identity theft in 2009. Young adults aged 18-24 took the longest to detect identity theft—132 days on average—when compared to other age groups. Subsequently, the
average cost ($1,156) was roughly five times more than amounts lost by other age groups.

Connecticut Better Business Bureau President, Paulette Scarpetti, says the ins and outs of identity theft are as important as any other element of money management. “Fixing the damage caused by identity theft can be an expensive and lengthy process, depending on anumber of factors, including whether the thief passed on the information to a third party or was caught.“ID theft is much simpler to prevent than fix, and it is a vital lesson in sound money management practices.”

Connecticut BBB offers these tips for college students to fight identity theft:
-School mailboxes are not always secure and often can be easily accessed in a dorm or apartment. Have
sensitive mail sent to a permanent address such your parent’s home or a post office box.
-Important documents should be stored under lock and key, such as in a filing cabinet. This includes social
security card, passport, checks and bank and credit card statements.
-Shred any paper documents containing sensitive financial information rather than just tossing them out.
Also, shred any credit card offers that come in the mail.
-Never loan your credit or debit card to anyone, even a friend. Also just say “no” if a friend wants you to
cosign for a loan or financing for an item such as a TV.
-Make sure your computer has up-to-date antivirus and spyware software. Keep your computer safe from
emerging hacking technologies used by online thieves by installing updates and patches to your computer’s
operating system and browser software.
-Always check your credit and debit card statements closely for any suspicious activity. The sooner you
identify potential fraud, the less likely you will suffer in the long run.”

Great advice for all students and their parents.

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Back to School: Health Insurance Options for College Students in a Post-Reform World

By admin on August 18, 2010 – 6:32 am

NGI’s marketing partner – eHealth – released this comprehensive media alert that contains some excellent insights into health insurance options for college students.   An abbreviated version appears below.

“eHealthInsurance (NASDAQ: EHTH), the leading online source of health insurance for individuals and families, today released a series of frequently asked questions (FAQs) to help new and returning college students and their parents better understand their health insurance options after the passage of health reform legislation.

Answers to Frequently Asked Questions An estimated 19 million students will be enrolling in classes this fall(1), and as many as 12%(2) of these may be uninsured. With several provisions of health reform legislation coming into effect on September 23, 2010, college students and their parents may not fully understand their health insurance options this year. The following FAQs are designed to answer specific concerns and help this year’s students find the best health insurance solution for their personal needs and budget:

Question: Do I need to have health insurance when I go to school?

Answer: Most colleges and universities require students to have some kind of health insurance coverage. Contact your school for more information, but keep in mind that health insurance is about more than getting access to health care when you need it. It also helps limit your financial liability for expenses that may arise from an unforeseen accident or injury — expenses that could potentially bankrupt you or your parents and seriously damage your prospects for the future. Whether or not your school requires it, make sure you’re covered.

Question: What are the health insurance options students can choose from this year?

Answer: Most college students in 2010 will choose from among the following five types of health insurance coverage:

--  Parents' health insurance plans. A provision of health reform law that
    becomes effective in 2010 allows adult children to keep their coverage
    under a parent's health insurance policy until age 26, whether or not
    they are currently enrolled in college. The parent's policy might be
    group coverage sponsored through an employer or an individual or
    family policy purchased by the parent. Some employer-based plans are
    accepting students now while others may wait until January 1, 2011
    before allowing students to re-enroll.
--  Individually-purchased health insurance plans. Many students purchase
    coverage on their own in the form of an individual, non-group policy.
    There is a broad variety of individual coverage options to choose from
    nationwide. However, until 2014, in most states it is still possible
    to be declined for individual coverage based on pre-existing medical
    conditions.
--  School-sponsored health plans. Many colleges and universities offer
    their own health insurance plans to students. Some of these plans
    place strict limits on the range of benefits covered and may limit
    access to only those doctors and services available through an
    on-campus student health center. As regulations for health reform laws
    continue to be written, the future of school-sponsored plans is
    uncertain.
--  Individually-purchased student health plans. These plans may resemble
    school-sponsored plans by placing specific limits on certain benefits,
    but they typically offer more freedom in obtaining medical care away
    from campus. Student health plans may be especially valuable for those
    going to school in a different state. While the post-reform future of
    these products is also uncertain, new and innovative student health
    plans with richer benefits are being introduced to the market.
--  Government insurance options. These may include state or federal
    insurance programs such as Medicaid or high risk pools. In order to
    qualify for some of these products you must have a diagnosis for a
    pre-existing medical condition on file with your doctor. You may also
    need to have been previously uninsured for a minimum of six months.

Question: How did the passage of health reform change things for students this year?

Answer: Some of the most profound changes to the health insurance market won’t come into effect until 2014, but here are four ways that health reform has changed options for students looking for health insurance this year:

1.  Health reform allows students (and non-students) to stay on their
    parents' plans until age 26. Before the passage of health reform, some
    students lost coverage under parents' plans earlier.
2.  Health reform strengthens protections for individually purchased
    coverage. After September 23, 2010, new individual health insurance
    policies will cover certain preventive care screenings (women's health
    screenings, for example) with no out-of-pocket cost to you. Health
    reform also made it more difficult for the insurance company to cancel
    your individual coverage retroactively if you become ill.
3.  New high risk pool coverage will be made available beginning in 2010 for
    persons who may not qualify for individual coverage due to a pre-
    existing medical condition.
4.  It's still not entirely clear, but school-sponsored health plans and
    other student health plans may be forced to expand their coverage as a
    result of health reform. Many of these plans currently limit coverage to
    a maximum dollar amount on a per-condition basis. Health reform may
    erase such dollar limits.

Question: Isn’t it best to stick with my parents’ health insurance plan?

Answer: Not necessarily. It may be convenient to stay on your parents’ plan, and the levels of coverage available through some employer-sponsored group plans can be excellent. However, if you are going to school in a different state than the one in which your parents live, you may find that your coverage levels are significantly lower when you’re away from home, and there may be no in-network doctors or hospitals available to you near your school.

Furthermore, while a parent’s employer may keep you on their group policy as a dependent, they may not contribute very much toward your monthly premiums. Your parents may have to pay significantly more to keep you on their plan than it may cost for you to purchase comparable individual coverage on your own. It’s a good idea to go over the dollars involved and the levels of coverage you’ll enjoy while at school to see if it may make more sense to move to an individual policy or student health plan, with or without assistance from your parents.

Question: My school offers coverage. Shouldn’t I just take what they’re offering?

Answer: Look over the benefit levels offered and what kind of coverage such a plan would provide if you had to seek medical attention while away from school or through a medical service provider other than the student health center. You should also be aware of any dollar limitations placed on your benefits. Many school-sponsored health plans limit your coverage on a per-condition basis. After considering your options, you may still decide that a school-sponsored plan is best for you. But don’t assume that it’s your only option.

Question: What should I do if I can’t re-enroll in my parents’ plan until January 2011?

Answer: The provision of health reform that allows adult children to stay on their parents’ plan comes into effect on September 23, 2010. However, due to open enrollment schedules, some employer-based plans may not allow you to re-enroll in a parent’s plan until January 2011. If you need a stop-gap to provide you with coverage until then, consider purchasing an individual health insurance plan, which can be paid month-to-month and cancelled at any time. Short-term health insurance plans offer another solution, but please note that short-term plans typically don’t cover preventive care, pre-existing medical conditions or prescription drugs.

Question: What if I have a pre-existing medical condition or am too old to stay on a parent’s plan?

Answer: If you have a pre-existing medical condition that makes it difficult to obtain health insurance on your own in the individual market and you’re too old to stay on a parent’s plan, you may have a couple choices. First, consider the school-sponsored plans available through your college or university. You may be eligible to enroll in these plans regardless of your medical history. Look at the fine print, however, and make sure that you understand any limitations that would be placed on your coverage. For example, some school-sponsored plans may limit coverage per-condition to $50,000 or less. That may sound like a lot, but a few days in the hospital for a serious condition could quickly use up those funds.

You should also consider an individually-purchased student health plan (the kind not offered through a specific school). For example, there’s a student health plan called GradGuard(TM) which allows for coverage up to $500,000 per-condition. No one is turned down for coverage based on pre-existing medical conditions, though GradGuard(TM) has a pre-existing condition exclusion period of twelve months. If you can show that you have had other coverage in place for the past year, however, then the exclusion period may be waived. Students of any age can qualify for coverage with GradGuard(TM).

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Packing for College – 3 More Items Not to Forget

By admin on August 15, 2010 – 4:29 pm

This article by the Wall Street Journal was excellent, but it missed a few items that you should also pack for college.

Please read the entire article here – WSJ.com – Packing for College, 2010 Style http://on.wsj.com/cn2oeS

The article contains great advice, but our favorite was the following quote:

“Protect stuff. Typically, your homeowner’s insurance will cover what is in your kid’s dorm room, up to 10% of your coverage for personal possessions. Expensive items like that new iMac may not be fully covered; if you are worried about replacing it, you may want to insure it separately. Belongings in off-campus housing may or may not be covered; check with your insurer.

Create a personal file.While getting their belongings together, students should set up a file of key personal information, including a copy of their driver’s license, insurance cards, Social Security card, debit and credit cards and immunization records. A passport or a copy of one also is useful, both for travel and to confirm citizenship if you apply for a job.”

Three additional items that you must not forget:

1) For protecting your stuff consider a college specific renters insurance plan such as those offered at www.CollegeRentersInsurance.com - which includes replacement level coverage and personal liability coverage.

2) For your privacy and personal ID of your student – purchase ID Theft and Resolution services – that are included with different services such as membership in College Parents of America. or something called the Student Protection Plan.

3) Lastly – it is vital to understand your college medical withdrawal policy.   Most colleges don’t refund money after day 25 – even for illness, injury or disability – so you could be out thousands of dollars.    Get protection with GradGuard’s tuition refund insurance. Tuition insurance may not be something you needed in high school or something you have even heard of, but most students would benefit by having at least a minimum of $5,000 of annual college refund insurance.

Though you are not likely to forget it, what NGI’s GradGuard recommends is that you consider your alternatives when it comes to student health insurance.   Your first choice is likely going to be your family policy.   If you are looking at buying your campus recommended plan, we suggest comparing the features and benefit levels to GradGuard’s Student Health Plan. No plan is perfect, but GradGuard has aimed to balance strength of coverage with a reasonable price.  Ultimately – it is a good option for many students attending colleges with only small benefit plans or with no plan at all.

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Five things you didn’t know about how to reduce – and protect – your investment in college

By admin on August 3, 2010 – 9:19 am

08.03.2010

As back-to-school season approaches, students excitement about going off to college is likely accompanied by their parents’ dread of the costs associated with their education.

A quick search of online resources can uncover ways to save money while protecting your substantial investment in college.

Here are a few places to start:

o Ship it! For students making long-distance moves, consider shipping their belongings through a specialty college moving company. You’ll be able to track the packages and your student won’t have to haul them through the airport – or worry that they’ll be lost by the airline.

o Take an insurance inventory; special tuition and renters policies are available for college students. Study the school’s tuition refund policy. Many schools only offer a partial refund of tuition if a student is forced to withdraw in the first five weeks of classes for medical reasons and most schools don’t refund anything after five weeks. Make a list of students’ personal property such as electronics, computers and bikes and research flexible, low-deductible renters insurance policies to protect property. Learn more about student insurance options at www.GradGuard.com.

o Buy textbooks online. Substantial savings can be had by utilizing one of the many book-focused websites. Another advantage – the hefty tomes can be delivered right to the dorm – no lugging them back from the bookstore.

o Plan ahead for visits. Hotel rooms book up fast for parents’ weekend and flights are always jammed with kids heading home for Thanksgiving. Use online travel resources to bid on and book travel ahead of time, saving money – and a lot of headaches.

o Feed that starving student: arrange for regular deliveries of their favorite nutritional foods from an online grocery service – particularly important for those with special dietary needs.

About GradGuard™:
GradGuard is a service of Next Generation Insurance Group, LLC (NGI). Founded by veteran collegiate, affinity and insurance marketing executives, NGI has established the nation’s first comprehensive insurance and benefits solution specifically designed for the collegiate market. GradGuard.com aims to offer protection for college life. Its products include tuition refund insurance, renters insurance and student health insurance. For more information, visit www.gradguard.com/tuition or call 877-556-3984. Tuition refund insurance is underwritten by Markel Insurance Company, an “A” (Excellent) rated company according to industry watcher A.M. Best.

Posted in College Refund Insurance, GradGuard, Parents, Trends & Research | Comments (2)

SENDING A STUDENT TO COLLEGE? FOR THE FIRST TIME, TUITION INSURANCE IS NOW AVAILABLE NATIONWIDE TO PROTECT THAT INVESTMENT

By John Fees on July 21, 2010 – 8:39 am

Today’s media release by NGI aims to help raise awareness of the risk facing families nationwide.

The reality is that the GradGuard Tuition Refund insurance plan is now available to EVERY full-time student at EVERY college.

You can read the release for complete details, but here are some highlights:
- Until now, the family investment in tuition and related expenses — which averages between $15,213 and $35,636 for one year in a four-year undergraduate program, according to The College Board — was a gamble.
- According to a 2009 study by Student Monitor, 27 percent of students had to themselves, or knew someone who had to, withdraw from college mid- semester due to health issues or a death in the family. Until now, tuition insurance was typically available only at select private colleges and universities.
- A 2010 study by College Parents of America indicates that most colleges and universities do not provide a full refund if a student is forced to withdraw from school for medical reasons.

Through GradGuard, all parents and students now have the opportunity to protect their investment in education.
Its tuition insurance program provides up to $50,000 of annual tuition insurance for the non-refunded financial loss associated with the cost of attending college. This includes not only the loss of non-refunded tuition payments, but also academic fees, room and board, books and travel to and from the academic program.

The GradGuard tuition refund plan is available for undergraduate or graduate programs, and can be purchased at any time with coverage for any accredited institution. It is also available to international students studying in the U.S. and to American students studying abroad. GradGuard also offers the Student Protection Plan™, a bundle of insurance and lifestyle benefits designed to protect college students including emergency medical evacuation insurance, identity theft protection and resolution services, and protection for their personal computers.

2010 Potential Student Tuition Risk

2010 Potential Student Tuition Risk

Posted in College Refund Insurance, GradGuard, Parents, Student Protection Plan, Trends & Research, Tuition Refund Insurance | Comments (0)