ALBANY — College-sponsored health plans often pay out far less in benefits than they collect in premiums, skirting state regulations and shortchanging students, according to an investigation by the New York attorney general’s office.

Many plans also do not cover common situations that affect students, including injuries sustained in suicide attempts or while drunk. And some colleges force students to buy college-sponsored coverage even if they are enrolled in a parent’s plan or covered by Medicaid.

While some colleges negotiate broad coverage from insurers, others receive what seem like low-cost plans, but they provide so few benefits that they are among the most lucrative for the insurance industry.

The investigation’s results came at a time when the need for students to have their own insurance may be decreasing, because the federal health care bill signed into law last month will allow parents, starting in September, to keep children on their plans until the children are 26. The health care bill will also impose more-stringent payout requirements on large health care plans, including those offered on campuses, though some college plans already appear to be running afoul of state laws.