Best Health Insurance for Kids 2024

Every parent wants their kids to be happy and healthy. Fortunately, there are several affordable ways to get health insurance for children without breaking the bank.

Not only grown-ups, but kids also fall ill. Kids are more likely to get sick because their immune systems are not as strong as adults.

To make sure kids stay healthy, parents should set up a financial safety net for them by choosing a health insurance plan designed for children. These plans come with various benefits for kids.

Let’s explore ways to protect your child’s health through insurance. We’ll guide you on obtaining health insurance for your child and share some of the recommended companies offering options for both child-only and family plans.

Why Child Insurance Plan?

Securing a child’s plan for your kids is crucial to protect their future in case of your unexpected passing. Life is uncertain, and it’s essential to be prepared for what the future may hold.

While some financial advisers may advocate for term insurance as a cost-effective way to secure your family’s future in the event of untimely death, it’s important to note that term insurance does not persist beyond death. In contrast, with a child insurance plan, the insurance company continues to cover the premium on behalf of the policyholder.

Despite being more expensive, child insurance plans are more beneficial for your child’s long-term interests. As per an insurance policy for kids, the specified amount is disbursed to the beneficiary at regular intervals as outlined in the plan.

Best Health Insurance for Kids 2024

Now that you learned how health insurance works, let’s explore some of the top health insurance for children.

UnitedHealthcare

unitedhealthcare

UnitedHealthcare is one of the largest health insurance companies in the USA. They offer a wide variety of kids and family health insurance plans, including HMO, PPO, and POS plans. Their plans are generally considered to be affordable, and they have a wide network of doctors and hospitals.

  • Customer service reviews can be mixed
  • Network coverage can vary depending on the plan
  • May not be available in all states
  • Largest network of providers in the USA
  • Offers a variety of plan options, including HMO, PPO, and POS plans
  • Generally good customer service
  • Affordable premiums

Cost: Varies depending on location, plan, and child’s age. Generally, expect to pay between $75 and $250 per month for a child-only plan.

Aetna

Aetna

Aetna offers a variety of kids and family health insurance plans, including HMO, PPO, and POS plans. They have a wide network of doctors and hospitals, and their plans are generally considered to be affordable.

  • Large network of providers
  • Offers a variety of plan options, including HMO, PPO, and POS plans
  • Generally good customer service
  • Has a strong reputation for quality care
  • Premiums can be high
  • May not be available in all states
  • Network coverage can vary depending on the plan

Cost: Varies depending on location, plan, and child’s age. Generally, expect to pay between $100 and $300 per month for a child-only plan.

Cigna

cigna

Cigna offers a variety of kids and family health insurance plans, including HMO, PPO, and POS plans. They have a wide network of doctors and hospitals, and their plans are generally considered to be affordable.

  • Large network of providers
  • Wide range of plans to choose from
  • Generally good customer service
  • Offers wellness programs and discounts
  • Premiums can be high
  • May not be available in all states
  • Deductibles and copays can vary depending on the plan

Cost: Varies depending on location, plan, and child’s age. Typically, expect to pay between $100 and $300 per month for a child-only plan.

Everest

Everest is one of the world’s leading reinsurance and insurance providers with extensive product and distribution capabilities. Their plans are generally considered to be affordable.

  • Known for offering lower premium plans, making it attractive for budget-conscious families.
  • They offer various plan options, including short-term health insurance.
  • Offer additional benefits like preventive care coverage, telehealth options, and dental and vision coverage for kids.
  • Smaller networks limit your access to certain providers or specialists.
  • Operate in a limited number of states.

Cost: Varies depending on location, plan, and child’s age. Generally, expect to pay between $100 and $250 per month for a child-only plan.

Ambetter

Ambetter

Ambetter is a health insurance company that offers kids and families health insurance plans through the Affordable Care Act marketplace. They offer a variety of plans with different levels of coverage, and their plans are generally affordable.

  • Affordable premiums
  • Wide network of providers in many states
  • Offers plans specifically designed for children
  • Good customer service
  • May not be as comprehensive as some other plans
  • Network coverage can vary depending on location.

Cost: Varies depending on location, plan, and child’s age. Generally, expect to pay between $100 and $200 per month for a child-only plan.

Options for Kids’ Health Insurance

The Affordable Care Act (ACA) mandates insurance providers to allow children below 26 years old to stay on their parents’ health insurance plans. Thus, only a limited number of insurance providers offer child-only plan options. Yet, you still have various options available to secure health insurance for your child.

Private Family Plan

If you are self-employed or ineligible for employer-based health insurance, you can acquire an independent family plan through the Affordable Care Act (ACA) Marketplace. Family plans under the ACA are more cost-effective than obtaining individual plans for each family member.

Every ACA Marketplace plan includes at least the 10 essential health benefits mandated by law for both: you and your child. Among these essential benefits are preventive care, vaccinations, lab tests, and hospitalization. Additionally, ACA plans also cover vision and dental care for children under the age of 19 included in your plan.

Short Term Child-Only Insurance

Want to fill a short coverage gap but low on cash? Bound by a court order to secure interim coverage? Managing a complex family transition? Consider buying a short-term health insurance plan for your child. Typically, short-term plans offer the most cost-effective health insurance solution with restricted benefits.

Short-term plans are not required to offer the minimum essential benefits directed by the ACA and may refuse coverage for preexisting conditions. It is advisable to opt for a short-term plan only if you cannot enroll your child in a long-term ACA-compliant plan presently. Note that short-term insurance plans are prohibited in certain states, while others impose restrictions on the plan duration.

Children’s Health Insurance Program (CHIP)

CHIP is an affordable health insurance program designed for families with incomes exceeding Medicaid eligibility criteria. Each state establishes its own guidelines for income regulations within the CHIP program. Additionally, certain states extend CHIP coverage to include pregnant women.

The health insurance choices accessible to you will be determined by your location, income level, and family size.

How to Sign Up for Kids’ Health Insurance?

Getting health insurance for a child starts with understanding the available options. Before exploring private plan options, verify that you are not eligible for CHIP. CHIP represents an extremely cost-effective choice for a child’s health insurance, and in numerous states, you may have a coverage cost of $0.

Signup for CHIP is open year-round, but considering your state’s minimum eligibility criteria is essential. Each state has unique qualifications for eligibility. To decide if you qualify for CHIP, contact 1-800-318-2596 or apply for a plan via the ACA Marketplace. If your income meets the requirements for CHIP, the Marketplace will guide you to the relevant enrollment information in your state.

If you are ineligible for CHIP and already have health insurance, you have the option to include your child in your plan. Reach out to your insurance provider and ask to add your child to the existing insurance coverage. Your insurance provider will guide you to ensure your child’s coverage. Keep in mind that transitioning from an individual to a family insurance plan may increase your monthly premium costs.

Just had a baby? Get coverage through Healthcare.gov’s special enrollment! Build an account, answer questions, and see all your options, including subsidies. Sign up for you and your child!

If you can’t get a special enrollment period, you might consider getting a short-term health insurance plan until the next Open Enrollment. These plans cover big medical expenses, but make sure to compare options and understand the terms before signing up.

You can still pay for your children’s services with cash if you can’t sign up for insurance. Also, check if your kids qualify for state insurance programs like Medicaid, even if you don’t qualify. Each state has different rules, so make sure to check the requirements before enrolling.

When you need to Insure your Kids

Your kid must fulfill the following stipulations to be eligible as a dependent on your insurance plan:

Your child can stay on your health insurance until they turn 26, but they must:

  • Be your biological, adopted, or stepchild.
  • Live with you for at least 6 months.
  • Earn less than 50% of their expenses (can still work part-time).
  • Not file a joint tax return last year.
  • Be claimed by only one household.

For your child to qualify for CHIP, they need to meet all the criteria mentioned above. Your household income should also match your state’s standards, as each state has different limits. To find out more about your state’s qualifications, start by making a profile on Healthcare.gov.

Don’t forget, if you’re adding or removing your child from an employer-sponsored insurance plan, you need to submit a “life change” form to the provider.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

1 × three =