What Is Child-Only Health Insurance
There are certain circumstances when you may need child-only health insurance. For instance, if your employer-sponsored insurance only covers you and not your children, then you'll find yourself in the market for health coverage for just your kids.
Health insurance for a child only is for kids 0-19 years old. Luckily, if your children require health insurance, you have options.
Different Types of Child-Only Health Insurance
There are quite a few child-only health insurance options available from government-run programs, the Affordable Care Act (ACA) or the private market. To see how they compare, take a look at the chart below.
Note: Comprehensive coverage refers to preventable and routine health care that covers seeing a family doctor, emergency visits and hospitalization. Comprehensive coverage is also known as essential health benefits that cover these 10 instances:
1. Hospital visits
2. Outpatient hospital services
3. Emergency services
4. Maternity and infant services
5. Treating mental health or substance abuse
6. Prescriptions
7. Lab work
8. Chronic disease management
9. Pediatric vision and dental
10. Rehabilitative services
Government-Run Health Insurance
Families that earn 100-150% below the poverty line (which varies by state) may qualify for government-sponsored health insurance, such as Medicaid or CHIP (Children's Health Insurance Program). Medicaid health insurance covers low-income families and offers comprehensive child-only health insurance. As such, enrollees of Medicaid or CHIP pay either nothing or very little for premiums, deductibles and copays. Medicaid is for the lowest income families in America, while CHIP is child-only health insurance for lower-income households. The difference is, if you make just over the poverty line and don't qualify for Medicaid, your children aged 0-19 can still get health insurance with CHIP.
ACA Health Insurance
You purchase ACA-compliant health insurance plans for children through insurance companies during open enrollment (fall-winter) or if you have a qualifying life event for health insurance, such as a new baby.
This means you cannot purchase child-only health insurance outside of open enrollment without a qualifying life event. ACA child-only health insurance offers comprehensive coverage at manageable rates. You may also qualify for government subsidies, which could further drive down your costs.
Private Health Insurance for Child-Only
Private health insurance for child-only, such as private health insurance or short-term health insurance, are available through private insurance companies. Best temporary health insurance from insurance companies don't usually exceed one year and may not cover pre-existing health conditions. While private health insurance for child only are ACA-compliant and offers comprehensive coverage for beneficiaries.
One of the benefits of private health insurance for children only is that it can be purchased anytime, which means you don't have to wait for open enrollment. The drawback to private health insurance is that these plans don't have government rebates to cut costs and are typically more expensive.
How to Decide Which Child-Only Health Plan to Get
The best way to determine which child-only health plan is best for you is to determine how much you can afford to spend on monthly premiums. If you do not have much to spend on insurance but need a children's health insurance plan, you'll want Medicaid or CHIP. Conversely, if you can afford to choose your child-only health insurance, then you can browse ACA or private health insurance plans for children and find the best fit for your family. If you're looking into buying through private health insurance for child-only or ACA plans, then your best bet is to Consumer Coverage to get quotes and find out the particulars for your area.
What You Need to Know About Child Health Insurance Plans
If you find yourself in the market for child-only health insurance, you can find your children comprehensive health insurance no matter your circumstances. The first step to discovering the best child-only health insurance plan is figuring out how much you can afford to spend on coverage; from there, it's just a matter of choosing the best plan for your needs and budget.
