P5 schools already do this, says so at the end of the article:
In 2012, the legislature passed – and then-Gov. Jerry Brown signed – a law that termed the Student Athlete Bill of Rights. Taking effect with the start of the 2012-13 school year, it requires the state’s four Pac-12 schools, among other things, to provide academic or other scholarships for athletes who lose an athletic scholarship due to injury. In addition, if, while playing for a team, an athlete suffers an injury that requires ongoing medical treatment, the school must continue providing that treatment for at least two years after the athlete’s graduation or departure from the school.
In October 2014, the Pac-12 passed a rule that increased post-college medical coverage from its schools to four years. And in 2018, the other four Power Five conferences agreed to provide this coverage for at least two years.