Why Are Child-Only Health Insurance Policies Becoming Popular Among Parents?
Wednesday, November 1, 2017, 6:00 AM | Leave Comment
Kids also possess a special place in their families and so is their health. Families buy different health insurance plans to ensure their children will have a happy and healthy future.
Learn about the availability of child-only health insurance plans in different states, rules, and conditions applied and different plans offered by insurance companies.
Everyone’s family is special for them and they take care of them in a special way. They want to ensure that everyone in the family lives happy and healthy at the same time. Especially, when it comes to children in the family, nobody wants to take a risk on their health.
There are health insurance policies available that care special care of kids and provide medical coverage at an affordable price. The child-only health insurance policies are specifically designed to protect the kids and no parent of adult family members are covered under the same.
Any child who is 18 or younger, can qualify for these low-cost health insurance plans and receive their benefits.
Here, we are going to about the availability of these plans, rules applied as well as multiple insurance plans offered.
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Availability
According to the new health reform law, insurers can’t deny the insurance to the kids aging 18 or younger and a certain number of children must be insured every year. Following the norms, different insurance providers announce their open enrollment period to enroll new kids into child-only insurance plans.
Here, we are providing a state-wise information of the open enrollment period offered by insurance providers. Insurance companies in California, Colorado, New Hampshire, New Jersey, Maine, Oregon, New York, Rhode Island and Vermont provide their open registration throughout the year. That means you can apply for a child only plan anytime, whenever you wish.
In the states such as District of Columbia, Maryland, Illinois and Oklahoma, you can get your child registered in a child health plan only in the month of January and July. While in Kentucky and Ohio, the same is available only in the January and March month respectively. Insurance providers in Massachusetts and Iowa designate open enrollments sessions from July 1st to mid-August.
While if you are residing in the Washington, you may enroll your child from mid-March to April 30th as well as mid-September to October 31st. But in several states including Arkansas, Connecticut, Hawaii, Idaho, Delaware, Kansas, Montana, Missouri, Pennsylvania, South Dakota, Utah, New Mexico and Alaska, insurance providers conduct enrollment process for child health insurance as per their convenience and that may vary state to state.
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Rules & Conditions
Now that you know when in a specific state you can apply for a child only health insurance plan, there are some rules and conditions that may affect the availability as well as accessibility of an insurance plan. In some states, you get these insurance plans from any licensed agent while at some places, you need to directly contact the health insurance provider.
Also, some states require a qualifying event such as the death of a parent, birth or adoption of a child or losing the employer-sponsored coverage to provide a child health care plan after the enrollment period.
If your child has any pre-existing disease, it’s much likely that you will receive a premium higher than someone without any pre-existing illness will receive. Some insurers may charge a surplus to your premium if your child was getting insured for the first time. At some places, insurers provide the child-only insurance plan throughout the year but at some places, they don’t offer it at all.
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Know the Plans Available
Insurance companies in the different states provide various insurance plans to their valuable buyers. Some of them are very affordable while some come with their comprehensive benefits. Here, we are listing the four common types of child-only insurance plans offered to the kids.
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Catastrophic Plan
Catastrophic Plans are the cheapest among all the plans available but are highly deductible. Anyone below the 30 can avail this policy but there are certain restrictions as well.
These plans offer a limited coverage but provide a good option for those who are in a sound health condition. Also, the first three consultations to the healthcare provider are offered free of cost.
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Bronze Plan
These plans are the second-most affordable child-only insurance plans. They have an affordable premium and a deductible a bit lower than the catastrophic one. Your child can get the first five consultations to the doctor under $45 and you need to pay only the 40 percent of the medical expenses during your hospital stay.
Under this plan, most of the preventive illnesses are covered and are suitable for those who are in a good health condition and haven’t got an insurance yet.
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Silver Plan
The silver plan is the right choice when you want enough coverage for an affordable price. These plans have a premium little higher than the bronze plans but provide more health insurance coverage to the insured.
Under this plan, first three appointments to the doctor are offered under $10 only and the insurance provider takes care of 80 percent of your medical and surgical expenses. That means you just need to pay 20 percent of total medical expenses and your child gets covered for almost all serious illnesses.
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Gold Plan
Gold plans provide a good option if you need an extended health coverage. These plans cost a bit more than the silver plan but provide the desired protection to your child. Also, you can combine these plans with an HSA (Health Savings Account) plan.
Under this plan, the primary care is offered at $20 only that insurance provider takes care of 90 percent of the medical and surgical expenses. This plan requires you to pay only 10 percent of the expenses and is just perfect for those who have health issues that need to see a doctor on a regular basis.
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CHIP Opportunities
Children’s Health Insurance Program or better known as CHIP provides a very convenient health insurance for children all over the states. The program offers low-cost health coverage the children of the families that earn a very low annual income.
If the annual income of a family is less than $45,000, there is a high possibility that their child will qualify for a CHIP policy. Known for offering their advantageous benefits, these programs cover total treatment costs for most of the life-threatening illnesses.
If you are earning less than $30,000 annually and have a child under 6, both of you may qualify for the CHIP benefits.
Under these circumstances, the you along with the child will get a CHIP policy and receive the benefits same as your child.
