Remain on Parent's Insurance Plan

• As of January 1, 2011, federal law allows a full-time student to remain on his parent's health insurance policy until the age of 26. This can offer a college student a cheap means of health care without the worry of having to afford a more expensive independent policy while taking classes on a regular basis. According to USA Today's website, it's important to check just what is covered by a parent's employer-based health care, as some employers have scaled back coverage in an attempt to cut costs. This will help determine if remaining on a parent's health plan is worth the expense or if another insurance route must be sought.
  
  

University Funded Health Care

• Almost all universities and colleges across the country have some form of health insurance plan that students may purchase. This can be a cost-effective means of insuring a college student who may not have access to a parent's health insurance plan. According to USA Today's website, the premium for a university-funded health insurance plan can be as low as $30 annually, although the average is about $850 per year. The problem with some college insurance plans is the general lack of coverage for serious illness outside of the normal colds and flu outbreaks that cause a student to head for the doctor's office.
  
  

State-Run Health Programs

• Each state in the United States maintains some form of low-income health insurance that is available to young people, the elderly, those with disabilities and people who meet certain income criteria. If a college student cannot be claimed as a dependent and has no legal guardian, he may be eligible for a state-run health care program that offers health insurance at a substantially reduced premium. Options vary by state, so visit the federal government's HealthCare.gov website to determine what coverage is available in a particular area.
  
  

Individual Policy

• It may sound crazy, but health insurance can be cheap when the applicant is healthy and not likely to need coverage for a chronic health condition. Annual premiums for young adults under the age of 26 who are healthy can be as low as $600, or a monthly cost of just $50. The policy may not have all the bells and whistles, such as a low deductible for emergency care, but it will provide a measure of protection for the student.