It's no secret. Everything in this life requires insurance.
Your home, your car, your life - insurance companies offer a great amount of coverage for the things you care about for a monthly premium.
But being able to pick a plan that provides quality coverage at an affordable cost is the hard part; especially when it comes to your children.
Choosing an insurance plan for your children isn't always easy. And finding affordable insurance plans for them can seem impossible.
Fortunately, there's no need to worry. Here's are some insurance plans that include your child's needs.
Thankfully, the United States government offers a number of assistance programs to help families in need. These programs not only help households money but also ensure that medical necessities are covered at little to no cost.
The largest federally funded program for this kind of coverage is Medicaid.
According to Medicaid's website, over 68 million people are listed as covered in February 2018.
Medicaid is a federally funded insurance program that provides coverage for low-income adults, children, expecting mothers, the elderly, and those with disabilities.
Here are some facts about Medicaid that you should know:
So if you're in search of affordable insurance plans for your children due to low and/or fixed income - you might want to look into Medicaid coverage.
Even though Medicaid is a government-funded program, it's not always available to everyone. Millions of people are denied coverage due to several factors.
Thankfully, plans such as The Children's Health Insurance Program are available for those who aren't eligible to receive Medicaid.
The criteria for CHIP is generally different than any of the other affordable insurance plans. Because it's dictated differently from state to state, the policies are custom-made for each family.
As a general rule of thumb - this is how this program works. If the family's total income is within two times the poverty level- then their children automatically qualify for the Children's Health Insurance Program.
Curious to see if you qualify? Contact us to get a quote!
Even though it sounds intense, this plan covers more than just catastrophic events.
Fun fact: Did you know that the Affordable Care Act, also known as Obamacare offers certain benefits that aren't offered outside of the marketplace?
Let's take the Catastrophic Health Insurance Plan for example. This specific plan is made for those who are struggling financially but are in young and healthy condition.
Under this plan, you are offered low premiums that you are able to afford so that you're not charged with penalty fees at the end of the year.
The only catch is the high deductibles that come with this plan. Deductibles are going to be what has to be paid out of pocket first before the insurance kicks in.
As you can imagine, high deductibles usually serve as a burden for those who can't afford it. But for the young and healthy- this is one of the best out of the affordable insurance plans listed.
Even though most insurance plans go through your employer, there are a number of subsidized plans that are offered to guardians and children.
Contrary to popular belief, there are affordable insurance plans offered to your children without having to change your plan.
While most parents/guardians go through their employer for their insurance benefits- you'd be surprised how many end up getting private insurance for their children.
Here are some myths currently circulating about private health insurance:
Even though there are some pros to getting a private insurance plan for your child, keeping them in your plan may be the more affordable of the two.
As you know, children can now stay on their parent's plan until they are 26 years old under the Affordable Care Act.
Depending on their contract with your employer - insurance plans can come at a lower cost than a child-only health plan. If you have more than one dependent, premiums are generally lower if you end up going with your employer versus going through private health insurance providers.
Whether you're a looking for affordable insurance plans for yourself or the family - Insurdinary will help find the right company for you. American and Canadian insurance buyers are able to browse, compare, and select insurance plans based on premiums and policies.
Have questions? Feel free to contact us and have one of our helpful insurance agents guide you in the right direction.