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Jerz
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riverripper
Official GMAT score I dont think is a sign one way or the other...they require that as part of their process. The official college transcripts is a the really good sign.

Also, know that not everyone was asked for transcripts before receiving a decision. Check out the "Kellogg class of 2011 applicants" thread for more details.
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riverripper
Official GMAT score I dont think is a sign one way or the other...they require that as part of their process. The official college transcripts is a the really good sign.

Also, know that not everyone was asked for transcripts before receiving a decision. Check out the "Kellogg class of 2011 applicants" thread for more details.
True, most people get the call/email before that status update.
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I got the request for the official gmat score report and got accepted the day after I sent it in. I actually think it is a great sign!
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Well, I got my financial aid package, and I have to say...I'm a little disappointed. I think I had too much savings (talk about bad incentives!). Also, they put my health insurance at $2,360, when it's going to cost me $7,700 on the Kellogg plan (wife and a kid). What's up with that?

Anyhow, I got a regular merit scholarship and a named scholarship that was actually less than the merit-based scholarship. It's called the "Myron Rocheleau Scholarship." Here's the weird thing - I can't find a single mention of it on the Kellogg website. Anyone know anything about it?
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riverripper
Official GMAT score I dont think is a sign one way or the other...they require that as part of their process. The official college transcripts is a the really good sign.

Also, know that not everyone was asked for transcripts before receiving a decision. Check out the "Kellogg class of 2011 applicants" thread for more details.
True, most people get the call/email before that status update.


Actually, from my limited review of what happens this year (including myself, 3 or 4 other friends and some people on the internet), every person this has happened to got admitted within 48 hours.

Hate to get your hopes up if I'm wrong but I would bet she will be admitted shortly.

On another note - River, Steel and anyone else who knows the area - any thoughts about Optima Horizons? Which Optima is considered the lease expensive?

Do places offer shorter leases? I am thinking of renting for 9 months since I may decide to move at the end of the first year. (I have no choice but to close a place without seeing it first).

Thanks!
Gil
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Actually, from my limited review of what happens this year (including myself, 3 or 4 other friends and some people on the internet), every person this has happened to got admitted within 48 hours.

Hate to get your hopes up if I'm wrong but I would bet she will be admitted shortly.

On another note - River, Steel and anyone else who knows the area - any thoughts about Optima Horizons? Which Optima is considered the lease expensive?

Do places offer shorter leases? I am thinking of renting for 9 months since I may decide to move at the end of the first year. (I have no choice but to close a place without seeing it first).

Thanks!
Gil

I don't know about Evanston, but in Madison 9-month leases were very rare and only available for the dumpiest places. No one wants to live there in summer, so the landlords aren't going to give up the three month's rent willingly...
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I would tend to agree with monkbent, I can't imagine landlords would agree to a 9 month lease. You may be able to negotiate a 11 month lease, if you start on Aug. 1 and end on June 30 (since there will be new students next year looking to move in July 1), which'll at least save you 1 month's rent. My landlord agreed to an August start and June end, but I also was signing a 2 year lease so that may have helped my case.
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monkbent
Well, I got my financial aid package, and I have to say...I'm a little disappointed. I think I had too much savings (talk about bad incentives!). Also, they put my health insurance at $2,360, when it's going to cost me $7,700 on the Kellogg plan (wife and a kid). What's up with that?

Anyhow, I got a regular merit scholarship and a named scholarship that was actually less than the merit-based scholarship. It's called the "Myron Rocheleau Scholarship." Here's the weird thing - I can't find a single mention of it on the Kellogg website. Anyone know anything about it?
Monkbent, try looking at Blue Cross/Blue Sheild of Illinois for rates. It may not apply to your situation since you have a kid, but I'm going with something like the BlueChoice Select or BlueChoice Advantage plan. You might be out $6K or so if something major were to happen, but you could certainly save a pretty penny on health care costs. I think the BlueChoice Select plan with $1,000 deductible, $30 copays, and $6,000 out of pocket limit is like $357 a month for your wife and 1 dependent.

I'm personally looking at the BlueChoice Select, which is $117 a month with a $1,000 deductible, $30 copays, and 100% coverage for outpatient and doctor's office visits. I'm still doing my research, but for what I'm looking for - primarily emergency care only - it's really a great deal to save $1,300 a year on health insurance. Now, I'll still need to find dental and possibly vision coverage, but I'm still looking at some pretty good savings.
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Gil

On another note - River, Steel and anyone else who knows the area - any thoughts about Optima Horizons? Which Optima is considered the lease expensive?

Do places offer shorter leases? I am thinking of renting for 9 months since I may decide to move at the end of the first year. (I have no choice but to close a place without seeing it first).

Thanks!
Gil

Optima Horizons usually has a minimum of 18 month leases unfortunately. Sometime landlords will let that slip though - but difficult to find.

All the Optimas are similarly priced, but Horizons is probably the lowest out of the three.
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monkbent
Well, I got my financial aid package, and I have to say...I'm a little disappointed. I think I had too much savings (talk about bad incentives!). Also, they put my health insurance at $2,360, when it's going to cost me $7,700 on the Kellogg plan (wife and a kid). What's up with that?

Anyhow, I got a regular merit scholarship and a named scholarship that was actually less than the merit-based scholarship. It's called the "Myron Rocheleau Scholarship." Here's the weird thing - I can't find a single mention of it on the Kellogg website. Anyone know anything about it?
Monkbent, try looking at Blue Cross/Blue Sheild of Illinois for rates. It may not apply to your situation since you have a kid, but I'm going with something like the BlueChoice Select or BlueChoice Advantage plan. You might be out $6K or so if something major were to happen, but you could certainly save a pretty penny on health care costs. I think the BlueChoice Select plan with $1,000 deductible, $30 copays, and $6,000 out of pocket limit is like $357 a month for your wife and 1 dependent.

I'm personally looking at the BlueChoice Select, which is $117 a month with a $1,000 deductible, $30 copays, and 100% coverage for outpatient and doctor's office visits. I'm still doing my research, but for what I'm looking for - primarily emergency care only - it's really a great deal to save $1,300 a year on health insurance. Now, I'll still need to find dental and possibly vision coverage, but I'm still looking at some pretty good savings.

Thanks jb - I remember you mentioning that before. Just a quick refresher on insurance since I've been out of the States for several years (Taiwan has National Health Insurance, and it is so efficient and useful that I've become a convert...)

Deductible is how much you pay out of pocket in a year? How does this fit with 100% coverage for doctor's visits? The deductible is only for serious stuff?
Copay is for medicine?
Out-of-pocket limit seems pretty self-explanatory...
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Here's my interpretation on health insurance, However, I am by no means an expert on this.

Deductible - what you have to pay out-of-pocket before insurance kicks in, usually applies to prescriptions, non-standard procedures (i.e. not a doctor's visit).

Copayment - fee you pay at all doctor's offices, hospitals, wellness centers, etc. before you get to see a doctor (the reason this exists is to prevent people from thinking all medical services are free, you might not go to the doctor for a cold if you have to pay $30. Keeps costs down).

Coinsurance - percentage you have to pay up to an out of pocket maximum for certain services. Let's say you have your pancreas removed. It costs $20,000. Your out of pocket maximum is $3,000. You pay $3,000 for that surgery.

Let's say you have 80% coinsurance (where the insurance company pays 80% up to your out of pocket maximum and then covers 100% above that amount). Same surgery as above costs $10,000. I believe you then owe $1,000 for the deductible, and then 20% of the remaining cost or $1,800 with a total bill of $2,800. I may be wrong on this part, though.

I believe there is also a prescription drug benefit that pays 80% of the costs for non-generics once your deductible has been met. I believe with some plans generic drugs are like $10. It just depends on the plan and insurance.
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monkbent
Well, I got my financial aid package, and I have to say...I'm a little disappointed. I think I had too much savings (talk about bad incentives!). Also, they put my health insurance at $2,360, when it's going to cost me $7,700 on the Kellogg plan (wife and a kid). What's up with that?

Anyhow, I got a regular merit scholarship and a named scholarship that was actually less than the merit-based scholarship. It's called the "Myron Rocheleau Scholarship." Here's the weird thing - I can't find a single mention of it on the Kellogg website. Anyone know anything about it?
You can petition finaid to get an increase to cover things like a wife and kid. They use the same numbers for everyone, when I asked last year they said married students' spouses work so the expectation is that they typically pay their own expenses. The figures is the same out of the hope of minimizing the debt their students take on. In the past students would take max loans and try to invest their money in hopes of making a more in the stock market...they probably kept a few people out of a lot of trouble this year. I know you can get an increase for health insurance and daycare expenses.

As for the named scholarships...in light of the current economic crisis the school has been pursuing alumni to donate money to help defray costs for students. I believe there have been a number who have given pretty sizeable amounts specifically for scholarships. I dont know if they will make it on to the website next year but in any case the site I am sure hasn't been updated with any new ones yet. I wouldnt worry you got money and thats a great thing...having a name only helps since it can go on your resume.
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jb32
Here's my interpretation on health insurance, However, I am by no means an expert on this.

Deductible - what you have to pay out-of-pocket before insurance kicks in, usually applies to prescriptions, non-standard procedures (i.e. not a doctor's visit).

Copayment - fee you pay at all doctor's offices, hospitals, wellness centers, etc. before you get to see a doctor (the reason this exists is to prevent people from thinking all medical services are free, you might not go to the doctor for a cold if you have to pay $30. Keeps costs down).

Coinsurance - percentage you have to pay up to an out of pocket maximum for certain services. Let's say you have your pancreas removed. It costs $20,000. Your out of pocket maximum is $3,000. You pay $3,000 for that surgery.

Let's say you have 80% coinsurance (where the insurance company pays 80% up to your out of pocket maximum and then covers 100% above that amount). Same surgery as above costs $10,000. I believe you then owe $1,000 for the deductible, and then 20% of the remaining cost or $1,800 with a total bill of $2,800. I may be wrong on this part, though.

I believe there is also a prescription drug benefit that pays 80% of the costs for non-generics once your deductible has been met. I believe with some plans generic drugs are like $10. It just depends on the plan and insurance.

That's a pretty accurate description, with a few minor modifications:

Deductible - this is the amount you pay out of pocket before the insurance starts to pay anything. So if you have a $500 deductible, you pay the full price for medical care until you spend $500. After that, insurance starts to pay a portion and you pay the copayment/coinsurance amount. If in any year the amounts you paid for deductible and copays/coinsurance reach your out-of-pocket limit, the insurance pays 100% of reasonable and customary charges. This is then complicated by plans that say that certain services (e.g. annual physicals) are not subject to a deductible, in which case insurance will pay the partial or full amount regardless of how much you've spent that year.

Copayments and coinsurance are essentially the same thing - a mechanism for sharing costs of health care between the patient and the insurance company or other payer. The difference is that copayments are expressed as a $ figure while coinsurance is expressed as a % of the cost. Again, it can be complicated because the same plan may specify copayments for some services and coinsurance for others. Last, most plans have higher copayments/coinsurance rates for out-of-network care or for things they'd like you not to do (e.g. buying brand-name drugs when generics are available).

One other point to keep in mind, one of the other benefits of health insurance beyond the above is that most health plans have negotiated lower rates for services and prescriptions with their provider network. So even if you never spend more than your deductible, having the insurance will let you pay less for care than if you did not have any insurance because of these negotiated rates.

So basically if you're in good health, high deductible plans are a great way to go and save money on insurance costs. You don't have to paying for coverage on care that you rarely if ever use, but still limit your financial exposure if you come down with a major illness and require hospitalization. I don't know if I'd recommend a high deductible plan for a couple with kids, since I think the frequency with which kids go to the doctor may make the high deductible plans more expensive.
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Thanks Jerz, kudos to you. So, in summary, if you are a healthy individual that requires few trips to the doctor, then you can save ~$100 or so a month by purchasing health insurance on your own instead of through Kellogg.
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jb32
Here's my interpretation on health insurance, However, I am by no means an expert on this.

Deductible - what you have to pay out-of-pocket before insurance kicks in, usually applies to prescriptions, non-standard procedures (i.e. not a doctor's visit).

Copayment - fee you pay at all doctor's offices, hospitals, wellness centers, etc. before you get to see a doctor (the reason this exists is to prevent people from thinking all medical services are free, you might not go to the doctor for a cold if you have to pay $30. Keeps costs down).

Coinsurance - percentage you have to pay up to an out of pocket maximum for certain services. Let's say you have your pancreas removed. It costs $20,000. Your out of pocket maximum is $3,000. You pay $3,000 for that surgery.

Let's say you have 80% coinsurance (where the insurance company pays 80% up to your out of pocket maximum and then covers 100% above that amount). Same surgery as above costs $10,000. I believe you then owe $1,000 for the deductible, and then 20% of the remaining cost or $1,800 with a total bill of $2,800. I may be wrong on this part, though.

I believe there is also a prescription drug benefit that pays 80% of the costs for non-generics once your deductible has been met. I believe with some plans generic drugs are like $10. It just depends on the plan and insurance.

That's a pretty accurate description, with a few minor modifications:

Deductible - this is the amount you pay out of pocket before the insurance starts to pay anything. So if you have a $500 deductible, you pay the full price for medical care until you spend $500. After that, insurance starts to pay a portion and you pay the copayment/coinsurance amount. If in any year the amounts you paid for deductible and copays/coinsurance reach your out-of-pocket limit, the insurance pays 100% of reasonable and customary charges. This is then complicated by plans that say that certain services (e.g. annual physicals) are not subject to a deductible, in which case insurance will pay the partial or full amount regardless of how much you've spent that year.

Copayments and coinsurance are essentially the same thing - a mechanism for sharing costs of health care between the patient and the insurance company or other payer. The difference is that copayments are expressed as a $ figure while coinsurance is expressed as a % of the cost. Again, it can be complicated because the same plan may specify copayments for some services and coinsurance for others. Last, most plans have higher copayments/coinsurance rates for out-of-network care or for things they'd like you not to do (e.g. buying brand-name drugs when generics are available).

One other point to keep in mind, one of the other benefits of health insurance beyond the above is that most health plans have negotiated lower rates for services and prescriptions with their provider network. So even if you never spend more than your deductible, having the insurance will let you pay less for care than if you did not have any insurance because of these negotiated rates.

So basically if you're in good health, high deductible plans are a great way to go and save money on insurance costs. You don't have to paying for coverage on care that you rarely if ever use, but still limit your financial exposure if you come down with a major illness and require hospitalization. I don't know if I'd recommend a high deductible plan for a couple with kids, since I think the frequency with which kids go to the doctor may make the high deductible plans more expensive.

Jerz, the way you describe it is how I understood it too. That's why I was wondering about jb32's plan where you don't have to pay for Doctor's visits (or only a copayment). That would be ideal with a kid. Anyhow, guess it's time for more research...

Thanks guys, and thanks for the info on the scholarship river.
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Thank you ALL. She got the call and is very excited (so am I).

This is a great forum, very helpful.
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Thank you ALL. She got the call and is very excited (so am I).

This is a great forum, very helpful.

Congratulations to the both of you. Tell her to get on the board!
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