Guest post: Affordable insurance alternatives for your kid's healthcare

US-PDGov

By Carol Wilson

There's nothing more stressful than getting a job that provides you, the employee, with health benefits but does not extend them to your family, especially the person who needs it the most—your child. Worried that your uninsured child will get severely ill or injured throughout the school year can be one of the most unsettling things you can experience, trust me I've been there.  While you may not be able to afford private insurance for your child, there are a few other options you might have incase a medical "emergency" occurs.

Health Savings Account (HSA)

The first thing you can try to do is set up a health savings account, which is typically just known as an HSA. HSAs are specifically designed to help pay for unexpected medical expenses that may arise throughout the year as well as help you save up for any health costs you already know your child will be needing in the future, like braces or glasses. HSAs are tax free and personally controlled, so you decide how your money is invested. Your HSA is not affected if you switch jobs and does not close out—meaning there is no "use it or lose it" clause. 

In order to qualify for an HSA, you must be enrolled in a high-deductible, employer- funded or independent health insurance plan. Or you can acquire one through a credit union or bank.

Medical grants

Every year a handful of grants, like the ones awarded by the United Healthcare Children's Foundation, are given to help families cover medical expenses for their children who are partially or not covered at all by health insurance. It may take some diligent research and your child may need to meet certain qualifications, but it most definitely is an option.  Grant money does not need to be paid back to the government. 

Christian Medi-Share 

This option is a bit limiting since it's only offered to those that practice the Christian faith. But if you and your family are proclaimed Christians and can prove that you all uphold a Biblical lifestyle, then it's most definitely worth a shot. How it works: the medi-share organization you choose receives voluntarily monthly contributions which are then disbursed to its members. Unlike health insurance, covering your medical expenses is not guaranteed. Some months may be better than others. There is a fee to be a medi-share member.

Discount dental plans

Lastly, you can enroll in a dental discount plan as an alternative to costly dental insurance, like the one Aetna provides. For a yearly fee, discount dental plans help families locate dentists "in-network" so to speak to help find dentists who accept the discount cards and offer services at a reduced price. Some members can get as much as half off of on costly dental work like braces. 

Carol Wilson regularly contributes to www.businessinsurance.org; 

she loves covering health, auto, and home insurance topics too. She welcomes your comments and feedback.