Individual Health Insurance for Children
Q: I have a 14 year old daughter and I have her insured under the health coverage that is offered by my employer. They pay for my insurance, but I have to pay for all of hers and it is expensive. I pay $45 out of each check to give her the insurance. Can she get her own insurance cheaper without me?
A: Certainly and probably at a considerable savings to you. The type of coverage you need to find for her would be under the category of Individual Health Insurance. Most insurance companies that offer individual health insurance will allow you to enroll just a child in the plan. Since applying for, and accepting, health insurance is a legally binding contract, you will need to complete and sign the application on her behalf. You will most likely find that the rates available for children are surprisingly inexpensive compared to your group health plan, assuming that she is healthy and has no pre-existing medical conditions.
Aside from the savings, there is another good reason worth considering. An individual health insurance plan, purchased from a stable insurance company, is a permanent policy. As long as you continue to make the requested monthly payments, and do not commit fraud on the insurance company, she can stay on this plan until she is 65 years old. This is not the case with your group plan. At some point, usually adulthood, she will no longer be considered an “eligible dependent” and will be removed from your coverage. This could create even greater hardship if she is undergoing medical treatment when this date occurs, or has developed pre-existing medical conditions that prevent her from obtaining individual health insurance.
One final option you might consider, every state has a Children’s Health Insurance Program for which she might be eligible. InsureKidsNow.gov is a great site to visit for more information. These programs are usually only available to children whose family falls below a certain income eligibility requirement, but it is definitely worth your time to investigate.
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