Most parents would do anything to make their children happy and secure their future, but that is not always possible with simple monthly savings plans, which may not be enough to cover the ever-growing education and medical costs. In this regard, child insurance programs may come in handy.
Kids insurance, or children’s insurance, includes many of the perks covered by adult insurance packages, with the main focus on the health and well-being of a child. The most popular kid insurance programs in the U.S. are Medicaid and the Children’s Health Insurance Program (CHIP).
Everything depends on the type of insurance. Medicaid, for example, is available for low-income families (which you can apply for by contacting your state Medicaid agency), whereas CHIP coverage employs affordable health benefits for families that are not eligible for Medicaid.
Each state offers Medicaid and Chip coverage, but CHIP benefits are different in different states, except for some mandatory services, such as immunization, routine check-ups, dentist visits, hospital care, prescriptions, and more. Click here to find the fullest info on Medicaid and CHIP in your state.
Although there’s no way to estimate the exact price of child insurance without knowing the amount of coverage, the payment schedule, and other details, it is safe to say that the younger the child, the cheaper it will be to insure him or her. For example, an average monthly premium on whole life insurance is about $45 for an infant, $71 for the age of 15, and $127 for the age of 30.
Employer’s Benefits: Extend Your Health Insurance Losing or leaving a job can be stressful, especially as the pandemic continues to affect unemployment rates in the United States. In April 2020, COVID-induced layoffs continued across the country, causing over 6 million citizens to look for coverage during the unemployment period. Career decisions often depend on the […]
Fear of losing a job goes hand in hand with the fear of losing health coverage. But there is no need to worry — COBRA has got you covered. It is no secret that all former employees have to qualify for this continuation option. Even so, it remains an excellent alternative that can help you […]
Every parent is concerned about a child’s well-being and health. That is why it is common for parents to add their kids as dependents and provide them the much-needed security. But when the right time comes, grown-up kids have to be taken off their parent’s plan. So, when do adult kids age off their family […]
Parents often have the cost of higher education on their minds. The rising college bills, cost of dormitory accommodation, books, and travel can be overwhelming for any parent. After all, it is a significant investment. The average annual cost ranges from $22,180 for four-year in-state students to $50,770 for private colleges. If you have a […]
Taking out a life insurance policy or establishing a trust is a common way to ensure that your loved ones are appropriately covered and that your assets are managed accordingly. Policyholders are often asked to name primary and secondary beneficiaries. By doing so, they can help relatives avoid unnecessary disputes and prevent the assets from […]