Kids, College and Insurance KFSM
Kiplinger Personal FinanceQ: My daughter will start college in a few weeks and I'm wondering what I need to do about insurance for her.
A: You should contact your insurer before your child goes to college. You may need to make a few adjustments to protect her and her belongings while she's away -- and you could save some money in the process.
HEALTH INSURANCE
Even though most children can stay on their parents' policies while they're full-time students, find out what coverage the policy will provide if she's moving out of town. If you have an HMO that lets you use doctors and hospitals only in your area, your child could end up with big expenses for any visits to a doctor or hospital while away at school.
College health-insurance policies are one alternative, but be careful before signing up. Some policies have low deductibles but also very low coverage maximums -- as little as $50,000 per accident or illness, with limits of just a few thousand dollars
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