Open enrollment is now open, however, between exams, clerkships, Step exams, and residency interviews, your insurance needs are probably the last thing on your mind. But as a medical student, making smart insurance choices now can save you money later. Depending on your specific needs and circumstances, you may or may not want or need to change your health insurance plan for 2025.
Reasons that Medical Students Change Insurance Plans
- Moving to a new state: Your current coverage might not work in your new location
- Aging out of parental coverage: Turning 26? You’ll need your own health insurance plan
- Developing new health needs: You may have different medical needs and your current plan may no longer be the best fit
- Preferred providers: Your desired providers may accept different insurance plans than what you currently have
- Changing Financial Priorities: Your insurance plan might have changed the price or coverage options for services/medications that you use. Or your own financial preferences may have changed and you want to shift to a different “tier” of coverage
- Getting married or divorced or having kids: Major life events can qualify you for special enrollment periods
If you are happy with your current plan, you should still review the 2025 coverage brochure for your respective health insurance plan, because health insurance companies change the prices and the coverage options every year, so services/prescriptions/providers that were covered this past year may not be covered next year.
Signs That Signal It May Be Time to Switch
- You’re paying for services you never use
- Your preferred doctors aren’t in-network
- Prescriptions aren’t covered adequately
- Deductibles eat up too much of your budget
- You’re planning to travel for clerkships and need better coverage
Common Pitfalls to Avoid
- Don’t automatically renew without reviewing changes
- Don’t pick the cheapest plan without understanding coverage
- Don’t forget to factor in mental health services
- Don’t assume all university health center services are covered
- Don’t miss enrollment deadlines
Remember that financial aid can help cover health insurance costs like monthly premiums for comprehensive plans. Join a SOM Financial Aid Zoom Office Hours session to learn more about this process.
Licensed health insurance navigators or health insurance brokers can help you review the plan options and think through these types of questions when assessing your needs. Their services are free and we recommend scheduling an appointment with them early as their schedules will fill quickly.
Action Steps
- Review Your Current Plan
- List what you actually use vs. what you’re paying for
- Calculate your total yearly costs (premiums + deductibles + copays)
- Check if your medications and doctors are covered
- Research Alternatives
- Compare marketplace options, Medicaid plans, and university plans (where available)
- Check eligibility for Medicaid
- Schedule a free consultation with a health insurance navigator or broker
- Make the Switch
- Mark your enrollment deadlines
- Gather necessary documentation
- Ensure no coverage gaps during transition
The best insurance plan balances your health needs, budget, and peace of mind. Take time to evaluate your options and don’t hesitate to ask for help from licensed health insurance experts.
Quick Reference: Key Resources