What Is Child-Only Health Insurance? Finding the right health insurance for your child can be tricky. Many families want to make sure their kids have good healthcare but may not have options through their jobs or may want a separate plan just for their children. This is where child-only health insurance comes in.
Child-only health insurance is a type of plan that provides medical coverage just for children. It helps parents pay for doctor visits, hospital stays, and other healthcare needs for their kids.
In this article, we will explain what this insurance is, why it’s important, and how parents can choose the best plan for their children.
Moreover, understanding this kind of insurance can help families ensure their kids get the healthcare they need.
Types Of Child-Only Health Insurance
There are several types of child-only health insurance plans, each with its own benefits and drawbacks. It is important for parents to compare options and choose the one that best fits their financial situation.
Here are the main types:
- Medicaid: This is the most affordable option for children from low-income families.
- Catastrophic Health Insurance Plans: These plans have low monthly premiums and provide essential health benefits for children under 15.
- Private Insurance Plans: Parents can purchase these plans directly from an insurance company or an agent to provide coverage for their children.
- Affordable Care Act (ACA) Marketplace Plans: These plans determine costs based on parental income, making them a good option for many families.
- Children’s Health Insurance Program (CHIP): This program offers low-cost health coverage and is relatively easy to qualify for.
- Short-Term Health Coverage: These policies provide temporary insurance and may be an attractive option for some families.
Each of these options allows parents or guardians to purchase this insurance specifically for a child.
How Much Does It Cost?
The cost of child-only health insurance depends on factors such as the type of coverage, the insurance provider, and how the coverage is obtained.
On average, parents can expect to pay around $300 per month for a child under 15, while coverage for an 18-year-old costs about $354 per month.
Insurance providers in the ACA marketplace set their rates based on the child’s age and smoking status. Below are the average monthly costs for children under 15:
| Health Insurance Company | Monthly Average |
| Ambetter | $278 |
| Cigna | $295 |
| Aetna | $279 |
| Blue Cross Blue Shield | $337 |
| United Healthcare | $296 |
| Kaiser Permanette | $255 |
| Molina Healthcare | $288 |
| Oscar | $275 |
For children who are 18 years old, the average costs are:
| Health Insurance Company | Monthly Average |
| Ambetter | $327 |
| Cigna | $345 |
| Aetna | $333 |
| Blue Cross Blue Shield | $399 |
| United Healthcare | $345 |
| Kaiser Permanette | $293 |
| Molina Healthcare | $330 |
| Oscar | $328 |
Under the ACA, parents can keep their children on their health insurance plan until they turn 26. However, the best insurance plan depends on the family’s budget and healthcare needs.
What Is the Best Child-Only Health Insurance?
The best child-only insurance depends on eligibility and financial considerations. Here are some key factors:
- Medicaid and CHIP: These programs are ideal for families who qualify based on income, as they provide comprehensive coverage at a lower cost.
- ACA Plans: If you qualify for subsidies or tax credits, these plans can be an affordable option.
- Private Insurance: If you do not qualify for Medicaid or CHIP, purchasing a plan directly from an insurance provider or through the ACA marketplace is another option.
What Is the Best Health Insurance for a Child?
For families with lower incomes, Medicaid and CHIP are the best options because they provide affordable coverage.
ACA marketplace plans are also a good choice since they offer discounts based on income and allow parents to choose the level of coverage that suits their needs.
How To Get Health Insurance For A Child
Parents often add their children to their existing health insurance plan. This can be done at any time if a qualifying life event occurs, such as birth, adoption, marriage, or divorce.
If adding a child to an existing plan is not an option, parents can purchase a child-only health insurance policy separately.
Bottom Line
Choosing the right health insurance for a child depends on financial factors, eligibility, and the type of coverage needed.
Comparing different plans will help ensure that a child receives the best possible healthcare coverage at an affordable cost.
