Originally Posted by Ian Finlay
Good idea, but then the university would have to deal with the costs associated with opting out and they don't like that. good idea, just probably wont happen. On the bright side, paying it and getting it back 4 months later is kinda like forced savings! Or surprise money when you get it.
See that's the thing I don't get. Why would they be incurring costs if they don't have to process a return of money in the first place? I wouldn't be giving them the money during registration. It would be a simple "Would you like to opt IN/OUT (I'm more of a fan of the opt in rather than opt out, but that's a whole other topic of dicussion) to the MSU Health Plan?" YES or NO
YES? - ok pay the extra $100+
NO? - Alright let's get all this information from you (yet another topic of discussion, how come we have to prove that we're insured? I'm guessing it's a liability thing maybe?)
That way no money exchanges hands, I keep my $100+ and they don't have to incur any costs to get me my money back. I wonder if I could not pay it and then opt out and tell them oh just credit that to my student account.
While I guess you're right about the "hey I just found $100+ in my jacket pocket" idea, I assume the money goes into a bank account and it makes the university interest in these 4 months (whatever the interest rate on ~$1.8 million is). As a student, I would rather that money make me interest.