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Online Degree Programs: How to Tell the Good From the Bad

Advances in technology over the past decade have propelled colleges and universities into the realm of online education, creating a crowded market for students considering an online degree.

But not all programs are a safe bet.

[Discover why online education may transform higher ed.]

Online colleges have been criticized for putting profits over students; some have even been the subject of lawsuits claiming misrepresentation or fraud. To avoid scams, students need to be savvy consumers and do their research before signing up for an online degree program, experts say.

Benefits Of Health Insurance Through The Marketplace

The University of Michigan offers a choice of health plans as part of a high-quality benefits package that helps you stay well and protect yourself and your family. Eligible employees and retirees can select from Comprehensive Major Medical, U-M Premier Care and Community Blue PPO. Another plan, GradCare, is offered for benefits-eligible graduate students only. Prescription drug coverage is included when you enroll in any U-M health plan.

Health Plan ID Cards

When you enroll in a U-M Health Plan, the health plan company will mail an ID card to your home address on file. You will also receive a separate ID card from MedImpact for prescription drug coverage. If you do not receive your ID card within 4-6 weeks after enrollment, call the health plan company directly to request a card. If you enrolled in a U-M health plan and need health care services before receiving your ID card, call the health plan company directly and ask about the reimbursement procedure. Until you receive your card, you may need to pay for services in full and then file for reimbursement from your health plan company. Be sure to save all receipts. Health plan phone numbers are included on the individual health plan pages on the UHR website, and on the Profiles page of the 2018 health plan coverage comparison chart.

Choosing a Plan

We want to help you find the health plan that offers the most advantages to you and your family, and then to use it wisely. Before choosing a plan, consider all the costs involved (including both premiums and out-of-pocket expenses like deductibles, coinsurance, and copays), access to doctors and hospitals, and your anticipated health and financial needs over the next year. Please note that there is no out-of-pocket cost to you for preventive care under any U-M health plan. View your health plan rates. For a detailed comparison, view the 2018 health plan coverage comparison chart.

To help you better understand your U-M health plan choices, view a two-minute video: A Quick Guide to Your U-M Health Plan Options. Note: This video is intended for faculty, staff and retirees who are eligible for the university's health plans. If you are a benefit-eligible graduate student, including Graduate Student Instructor (GSI), Graduate Student Staff Assistant (GSSA), Graduate Student Research Assistant (GSRA), benefit-eligible fellowship holder, or medical school student, please visit GradCare to learn about your university health plan option.

Health Plan Definitions

Premium
The premium is the amount that must be paid for your health plan. You pay a portion of the monthly health plan premium through automatic payroll deductions.
Deductible
Your deductible is the amount you owe for health care services before your health plan begins to pay. For example, if your deductible is $500, your plan won’t pay anything until you have paid $500 out-of-pocket for covered health care services subject to the deductible. The deductible may not apply to all services.
Copay
A copay is a fixed dollar amount (for example, $25) you pay for a covered health care service, such as an office visit, at the time you receive the service. The amount can vary by the type of service.
Coinsurance
Coinsurance refers to your share of the cost of a covered health care service, calculated as a percent of the allowed amount for the service (for example, 20%). You pay coinsurance in addition to any deductible you owe for your plan. The health plan pays the rest of the allowed amount.

View a glossary of commonly used health coverage and medical terms.

Pair Your Health Plan with a Flexible Spending Account

You may want to consider a pre-tax health care Flexible Spending Account (FSA) to complement your health plan, particularly if you choose an option with higher out-of-pocket expenses.

Health Coverage while Traveling Abroad

Faculty and staff traveling on international university-related business are automatically covered at no cost by travel abroad health insurance. Learn more about your coverage during international business travel.

The benefits of health insurance through the Marketplace

No one plans to get sick or hurt, but most people need medical care – like a doctor visit, a prescription drug, a lab test, physical therapy, or counseling – at some point. These services can be expensive.

And if something happens that requires surgery or emergency medical care, it’s really important to have coverage. Fixing a broken leg can cost up to $7,500, and the average cost of a 3-day hospital stay is around $30,000.

The Health Insurance Marketplace offers a variety of high-quality health coverage choices for routine and non-routine medical services that can work for your family and budget.

Benefits even before you meet your deductible

In the Marketplace, all plans cover some services – like preventive care and well-woman visits – for free.
Some plans offer other health insurance benefits – like reduced price generic drugs and free disease management programs.
If you get medical services from a provider in your plan’s network, you’ll pay lower prices than you would without insurance. That can save you hundreds of dollars per year.
What Marketplace health plans cover

Benefits of health insurance:

The benefits of health insurance are listed below:

Online buying facility

Gone are the days when customers had no other option to buy insurance policies except through agents. Policies can now be easily bought online courtesy specialized insurance brokers who can make a comparative analysis (merits and demerits) of various products offered by different insurance companies for the benefit of customers who can choose the best health insurance plan most suitable to their requirements.

Different premium payment scenarios

Hitherto, the premium payments structures most health insurance policies in India were, by and large, the same. However, many companies such as Bharti AXA and Star Health among others have set up a ‘Zone based premiums’ for towns and metros. Consequently, health insurance policies are costlier in metros compared to towns given the higher medical expenses which may be incurred in the former.

Coverage

In the recent past, insurance companies are providing a wide range of products to cater to all kinds of requirements. For instance, many health insurance companies are increasingly offering family floater policies which provide cover to the entire family under a single umbrella. As a result, family members share the sum assured and can therefore, avail of the benefit in case of any untoward occurrence within the policy term.

Renewal

As opposed to traditional health insurance policies which had a fixed age limit, many current policies entail greater flexibility in terms of renewal in that customers can now renew their coverage at any time throughout their lives.

No claim bonus

In the recent past, insurance companies are increasingly offering their customers higher amounts of no claim bonus as a strategy to retain them. Some insurance providers are offering a ‘no claim bonus’ for up to 100 % of sum insured.

OPD expenses

While according to traditional health insurance products, customers have to be hospitalized for at least 24 hours to claim reimbursement, the current insurance providers provide cover for outpatient department (OPD) expenses as well. As a result, the insured do not necessarily have to be admitted into a hospital to avail of the benefits. As of now, Star Health and ICICI Complete health provide health insurance covering OPD expenses.

Restoration

In some health insurance policies, the sum insured is reinstated if the insured exhausts the coverage amount in a year. For instance, the restoration benefit can also be used in cases where an insured has to bear expenses for any medical condition which is different from the condition for which a claim was made.

Maternity cover

In this day and age, several health insurance providers are offering maternity cover as opposed to traditional insurance companies. Major companies such as Star Health and Max Bupa among others even provide cover for vaccination expenses of the new-born.

Sub-limits

Experts have asked customers to have a clear picture of sub-limits before signing up for a health insurance policy. Most traditional policies entail a sub-limit such as cap on doctors’ fees, boarding or room rents and other charges related to operation theatre, latest policies offered by insurance providers such as Tata AIG and Apollo Munich do not have such sub-limit clauses.

Cashless hospitalization services

Several leading insurance providers in the country have a network of hospitals which can offer cashless hospitalization services for the benefit of customers. Customers, therefore, do not have to unduly worry about immediate cash requirements in case of any emergencies. In several cases, the third party administrators pays the bill to the hospital or institute.

Tax benefits

Policyholders can avail of some tax benefits under section 80D (deduction for premium paid in addition to separate deduction for buying policies for parents who are senior citizens) and 80DD of the Income Tax Act 1961. In all, a policyholder can avail of tax benefit of up to Rs.55,000 under section 80D. The sum insured is not considered as ‘income’ and therefore, exempt from tax. However, several conditions have to be met to claim deduction as listed below:
Policyholder should either be HUF or individual
Payment of premium by any other means except in the cash mode
Payment proof
Portability
Policyholders can now avail of a facility wherein they can switch their current insurance policy to another insurance provider seeking higher quality of services and benefits on offer.