The health insurance plan offered to students of Virginia Commonwealth University will be terminated this summer.
VCU has started to notify affected students that the insurance plan, administered by Aetna, will end for medical and dental students on July 31, and will end for all other students on August 17.
According to a spokesman for Richmond-based VCU, declining participation by students and escalating costs has created escalating premiums and out-of-pocket expenses, making it impractical for students.
Participation dropped from 1,057 students in the 2012-13 academic year to 598 in the 2015-16 academic year. Premiums were reportedly set to increase by 38%, to $4,737 for academic year 2016-17.
Information sessions for students have been planned, and they have been directed to the federal health insurance online exchange at HealthCare.gov.
Date: March 23, 2016