Offshore Medical

The use of insurance plans underwritten by “Offshore” insurance carriers to insure international students has grown in the past few years. These plans are underwritten by companies based in different countries, including, but not limited to Guernsey, Cayman Islands, and Bermuda. The features and benefits of these plans are regulated by the country the underwriter is based in and don’t offer all the consumer protections provided by the Affordable Care Act. In addition to lack of consumer protections, there are no U.S. based regulations defining the plan design and other features the plans may offer, including coverage for pre-existing conditions, coverage for preventative care, and other requirements of conventional Student Health Insurance Plans (SHIP).

There are situations where an Offshore plan is the best option for a policyholder to consider, such as an embassy or government sponsored program for sponsored students studying in the United States. The lack of consistent regulations of a plan’s benefit designs and policy provisions require that a policyholder exercise a great degree of due diligence when evaluating a plan to cover their students. In addition, the compliance with a specific college or university’s waiver standards is an important consideration in plan design and company selection.

Collegiate Health Solutions has the resources and capabilities to review any Offshore plan, providing valuable feedback on the plan’s benefits and other policy language. It is important for a college or university to understand the benefits and other policy provisions included in the Offshore plan before allowing a student to waive the college or university sponsored SHIP.