Health Insurance for Your Kids: Everything You Need to Know

    Research shows that in Canada, caring for a child gets more expensive all the time. It’s likely that the cost of raising one child or more increases as the household income increases, too. Changes in society and advances in technology are cited as two factors that contribute to the increase in costs. For example, many children today have smartphones and mobile phone data plans that their parents pay for. Additionally, most households around the world are now likely to be equipped with internet connection, so parents have to pay for internet service as well as any laptops or other technological devices that children may use.

    Of course, the traditional expenses of caring for children still exists, and those have also increased in cost over time. These expenses include food, clothing, transportation, education expenses, and health expenses. With all expenses and increases in costs considered, parents are sometimes faced with the decision of where to cut back to save money. 

    Parents considering alternative health insurance options for a child should be aware that there are online tools that allow parents to compare different policy options, cheap sports physicals, and providers to determine which is right for their family and doesn’t break the bank. A great place to start is your local government-sponsored healthcare market, especially if your family meets the income requirements for preferential pricing. Keep in mind, your family may not need all the bells and whistles of the most expensive policy, there’s a tradeoff between services you’ll use and monthly premium costs.

    Consider the health services children might need

    When buying health insurance, parents should consider the age of the children. For example, parents of children who are in school may have to factor in their child’s school environment and experiences into a decision they make about what kind of health insurance to get.

    Children tend to become more autonomous and independent when they start school, most likely because going to school means they spend less time with their parents. Some parents become nervous when their children go to school because they can’t be there to protect their children and keep an eye on them as they would like to. In school, children may get injured on the playground or in gym class. Also, germs spread through schools, just as they do in other public places, and children could get sick at school, to their parents’ dismay. 

    School-aged children would benefit from health services such as vision tests, immunizations, and annual checkups. Parents take into consideration whether the child is sick, accident-prone or suffering from a health condition when contemplating what kind of health insurance to get for them. Some parents purchase insurance even if their children are reasonably healthy, because they may want to be covered and take preventative health measures in case their child should become sick, injured, or develop a condition later.

    Research various coverage options

    Parents should research and compare as many insurance options as necessary until they find one that fits their family’s health and medical needs and financial situation. Many insurance policies are out there, and parents should know which policies will and won’t provide coverage in certain circumstances.

    Some insurance policies will cover children until they reach adulthood if their parents have insurance. Private health funds don’t deny anyone from accessing insurance because of preexisting conditions; they will cover children with preexisting conditions, which can make things easier on the finances of the parents if their child often visits a health care provider or is prescribed medicine. In some cases, to save money, some parents choose to buy cheap health insurance and then augment with additional out-of pocket expenses, which can often total less monthly than pricier premiums. Parents should look for and compare affordable, quality insurance policies and determine whether their family needs things such as hospital coverage, dental care, chiropractor, or visits to the Calgary optometrist, and pregnancy and obstetrics coverage. Finding an insurance policy is essential, so parents should make sure they do extensive research and comparisons to have all their needs met.