UNIVERSITY OF ILLINOIS — Health insurance rates for UI students could be higher for the upcoming school year. The Board of Trustees will consider a 24% hike at the meeting next week, but university leaders say it could have been a lot worse.
Associate Vice Chancellor for Student Affairs and Director of Auxiliary Services Lowa Mwilambwe says United Healthcare wanted the hike to be closer to 40% but they negotiated that down.
For this year, under-grads have paid $960 for health insurance for a whole year. That would go up to $1,191.
Leaders at UHC say they’ve been paying out about a $1.13 for every dollar they collected on premiums. They couldn’t afford that. That’s why they’ve been looking into the hike.
With this package, students get free primary care at McKinley, on campus. They also have coverage within 50 miles of the UIUC campus. About 30,000 students got health insurance through the university this past fall.
That’s about 65% of the student population. The Board of Trustees will make the final decision next week. It would go into effect this fall.
Mwilambwe says students would be able to opt out if they wanted to before then. He says this plan is great for students, even with the hike.
The plan would still cost less than $1,200. Compare that to students at the University of Michigan, who pay $5,094 a year for coverage or University of Maryland students, who pay $5,317.