These days, it seems everyone is on a budget. But as costs for medical care continue to rise, quality health insurance rates do as well. While parents with reliable coverage provided through work have the option of adding a child to a group plan, it’s not always the most cost effective alternative. In other cases, there is no employer provided coverage, meaning you’re left to find affordable health insurance for children on your own. Luckily, you do have options. If you’re looking for child-only health insurance you can afford, here’s what you should know.
What Health Care Reform Means for Child-Only Health Insurance
As a parent, you’re probably well aware of how difficult it can be to find reliable coverage for a child only. Most plans are limited and if they do offer the benefits you need, they’re no longer affordable. The truth is, after the Affordable Care Act passed in 2010, many reliable providers stopped offering child only plans because new regulations made it too costly and not profitable. As a parent, that hurt. But there is some good news.
The Online Marketplace Will Increase Access to Affordable Health Insurance for Children
Health Care Reform rolled out over the past few years, but the final provisions are set to take effect in 2014. What does that mean for you? On October 1, 2013, the Online Marketplace will open, providing parents, individuals, even businesses access to more health insurance plans at affordable rates. The new law requires state exchanges to offer affordable health insurance for children only that meet certain criteria. They have to be affordable, but they also have to include coverage for very specific benefits like vision care and special needs.
Finding the Right Health Insurance for Children Only
State run exchanges may be the best way to secure the coverage you need for your child. With access to more plans, increased benefits and affordable rates, finding the right coverage just got a whole lot easier. Find, compare and secure the health insurance you need for your child and get peace of mind that when they need medical care, they can get it- no matter what.