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Fall 2022  Volume 15, Number 3        
 

A Quick Look at Child-Only Health Insurance

Affordable health insurance for your children is a top priority. Child-only health insurance policies can be a good fit for your kids but finding the right policy for your family can be tricky.

What Is Child-Only Health Insurance?

Child-only health insurance is specifically designed to cover only children under the age of 19. These policies are advantageous for parents who don’t have coverage themselves or can’t afford a plan that covers themselves and dependents.

Some of the most popular types of child-only health insurance plans include:

  • Individual and Family Health Insurance Plans: offered by private insurance companies, they can be purchased directly through the insurer or a health insurance marketplace.
  • Medicaid: a government-sponsored health insurance program available to low-income individuals and families.
  • Children’s Health Insurance Program (CHIP): a government-sponsored health insurance program that provides coverage to children whose families earn too much money to qualify for Medicaid but can’t afford private health insurance.
  • Affordable Care Act (ACA): helps individuals and families obtain health insurance by providing subsidies to help offset the cost of premiums.

What Type of Plan Should You Choose?

Medicaid is one of the best and most reliable sources of coverage. Its benefits include free or low-cost preventive care, no out-of-pocket costs for covered services, and coverage for a wide range of medical services, including dental and vision care, prescription drugs, and long-term care.

CHIP is another good option for families who don’t qualify for Medicaid but can’t afford private health insurance. CHIP provides comprehensive coverage, including preventive care, dental and vision care, prescription drugs, and in some states, long-term care.

If you are eligible for an ACA subsidy, you may consider purchasing a private health insurance plan through the ACA marketplace. These plans are required to offer essential health benefits, including preventive care, prescription drugs, and mental health and substance abuse services.

Private plans should be your last option. They are more expensive than other options and don’t always offer the same level of coverage. If you decide to purchase a private plan, review the policy carefully to ensure it meets your family’s needs.

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In this issue:

This Just In...

Retirees Should Check Their Medicare Coverage Before Traveling

What You Need to Know About Mental Health Care Insurance

How to Save on Health Insurance

A Quick Look at Child-Only Health Insurance

 

 

 


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