Childhood is one of the most important developmental periods of anyone's life. Seldom do our bodies change and face illness risks at quite so unique a capacity. Most children have specific medical needs. As such, you cannot understate the importance of health insurance for a dependent child.
When getting health insurance, children often qualify for coverage through several different avenues. Each avenue comes with unique qualifications and specifications. Based on your child's needs, one of the following options can greatly benefit them.
1. Enrolling on a Parent's Insurance
Most children can get health insurance through their parents' employer-provided insurance. Employer policies often allow the employee participant to enroll additional dependents. Usually, parents can add children to their policies for a minimal cost increase — or perhaps no increase at all. Dependent children often can stay on their parents' plan until they turn 26 years old. This regulation is part of the Affordable Care Act's (ACA's) reform of health insurance.
Employer insurance provides a convenient avenue for families to get coverage. However, this avenue may have its drawbacks. At times, an employer's policy may not offer adequate coverage for a child's needs. Carefully examine your employer-provided coverage before enrolling your child.
2. Enrolling a Child in an Individual Plan
Once a child turns 26, he or she usually cannot remain on a parent's insurance. The child must then buy their own policy.
Yet, some children get their own policies before they have to leave their parents' plan. For example, a child might go away to out-of-state college. The parents' insurance may not offer the coverage needed by a student in their new state's insurance pool. The child might actually benefit from an individual insurance policy.
Most children can qualify for individual policy coverage after the age of 18. One avenue to get coverage is to purchase a policy from a private insurer. Young people may also be able to get covered through the Affordable Care Act marketplace. ACA plans are private plans that meet federal standards. The young person may qualify for cost assistance through this avenue.
3. Getting Coverage Through Other Government Programs
Children may also qualify for government-subsidized health insurance. This might include Medicaid, the Children'o;s Health Insurance Program (CHIP) or other programs based on the child's qualifications. Additionally, children with special medical needs may qualify for extra coverage subsidies beyond the scope of their private health insurance coverage.
Government-subsidized plans often come with very rigorous qualifications for child enrollees. As such, it's advantageous qualifying children to get coverage from private source
Need coverage for your child? Call Simpson Financial Group, Inc. at (978) 222-3939 for a fast, free health insurance quote.