Keeping children safe and healthy is the priority of parents around the world. Due to the unpredictable nature of children’s lives, accidents and unexpected emergencies may require medical attention. Health insurance coverage for your kids creates peace of mind for parents and covers unexpected finances. In this case, child-only health insurance may come in handy, but what is child-only health insurance?
Child-only health insurance is a type of insurance that covers the payments for children’s medical bills along with other preventive care. This insurance is available through the Affordable Care Act marketplace. They are offered through the children’s health insurance program, HealthCare.gov, and health insurance companies.
Depending on your eligibility, the best child-only health coverage is determined. You may find the best affordable insurance coverage if you qualify for premium tax credits. However, there are different child-only health insurance companies you can consider buying health coverage from, but before you proceed with that, read through their write-up for insights.
What Are the Types?
There are different types of child-only health insurance companies you can purchase this health insurance for children. Every child-only health coverage company has its benefits and disadvantages. Because of this, parents are advised to compare insurance providers to find the one that best suits their financial status. The types are:
- Medicaid: This insurance company offers the cheapest insurance coverage options for children who are from a low-income family.
- Catastrophic health insurance plans: They offer low monthly premiums on insurance coverage plans for children under 15 along with health benefits.
- Private insurance plans from health insurance companies: These insurance plans are gotten directly from a health insurance company or agent. It is another way to ensure children who cannot get insurance on their own.
- Affordable Care Act marketplace plans: This insurance determines insurance rates based on the income of parents. This is best for children.
- Children’s health coverage program: This also offers very cheap child-only health insurance options for children. It is also easier to qualify for.
- Short-term health coverage: These insurers offer the best child-only health coverage that may entice you.
These types of child health coverage allow adults to easily purchase health policy for a child.
How Much Does it Cost?
An average monthly cost of $300 is charged for child-only health coverage for children under age 15. For an 18-year-old child, a $354 average monthly cost is charged for health coverage. However, the actual insurance cost depends on how your coverage was obtained, the coverage type, the particular coverage taken, and the insurance company.
Insurance companies in the ACA marketplace determine child-only health insurance based on rates, the child’s age, and smoking status. The table below illustrates the average child-only health insurance costs for children under 15.
| Health Insurance Company | Monthly Average |
| Ambetter | $278 |
| Aetna | $279 |
| Cigna | $295 |
| Blue Cross Blue Shield | $337 |
| Kaiser Permanente | $255 |
| Oscar | $275 |
| Molina healthcare | $288 |
| United Healthcare | $296 |
The average costs for child-only health coverage for children who are 18 years of age are:
| Health Insurance Company | Monthly Average |
| Ambetter | $327 |
| Aetna | $333 |
| Cigna | $345 |
| Blue Cross Blue Shield | $399 |
| Kaiser Permanente | $293 |
| Oscar | $328 |
| Molina healthcare | $330 |
| United Healthcare | $345 |
ACA allows parents to keep their children on the parent’s health insurance plan till they turn 26. The best health insurance for young adults varies from each other depending on the insurance cost.
What Is the Best Child-Only Health Insurance?
The best child-only insurance depends on some factors considered by insurers. Aside from these factors, what you are eligible for also determines the best insurance you can get. Some of these eligibilities are:
- If you are eligible for a CHIP or Medicaid plan that offers cheaper comprehensive coverage options.
- If you qualify for cost-saving subsidies and premium tax credits depending on your income.
In cases where you are not eligible for either of the two, you can purchase an ACA plan directly from a health insurance company or at HealthCare.gov.
What is the Best Health Insurance for a Child?
If you are a low-income person, CHIP and Medicaid are the best child-only health insurance you can go for. ACA health insurance is also another health insurance best for a child. They offer discounts on your child’s insurance costs depending on your income and allow you to select your preferred coverage level.
How do you get health insurance for a child?
Some adults add their children to their health insurance plan. This can be done at any time if you are eligible for it. Some eligible events include adoption, birth, divorce, marriage, and so on. If you do not prefer this process, you can purchase child-only health insurance for a child.
