Is it possible to buy health insurance just for your kids?

episodic

Lifer
Feb 7, 2004
11,088
2
81
My group plan at work has went up so that an employee + kids is outrageous.

Just getting a plan for myself is still cheap.

Can I pay for an individual plan for my kids?
 

episodic

Lifer
Feb 7, 2004
11,088
2
81
Anyone else? Not discounting you Tony - just want to get lots of perspective here from more than 1 person.
 

Zim Hosein

Super Moderator | Elite Member
Super Moderator
Nov 27, 1999
64,894
380
126
Originally posted by: episodic
My group plan at work has went up so that an employee + kids is outrageous.

Just getting a plan for myself is still cheap.

Can I pay for an individual plan for my kids?

What profession are you in episodic?
 

episodic

Lifer
Feb 7, 2004
11,088
2
81
BTW - is insurance this bad for everyone else?

5 years ago, I was paying 198 for employee + kids - now it is about 2.5 times that. . .
 

episodic

Lifer
Feb 7, 2004
11,088
2
81
Originally posted by: Zim Hosein
Originally posted by: episodic
My group plan at work has went up so that an employee + kids is outrageous.

Just getting a plan for myself is still cheap.

Can I pay for an individual plan for my kids?

What profession are you in episodic?

Transportation. . . (no - not a truck driver ;P )
 

thespeakerbox

Platinum Member
Nov 19, 2004
2,656
0
71
if youre having a hard time funding general insurance, your kids may qualify for state programs anyways.
 

episodic

Lifer
Feb 7, 2004
11,088
2
81
Originally posted by: thespeakerbox
if youre having a hard time funding general insurance, your kids may qualify for state programs anyways.

Nahh, make just a few grand too much for that . . . and I stress a 'few'. . . I can 'fund' it. . . but that isn't the point. It is getting too expensive to the point of being absurd.

500$ a month for 3 people that rarely go to a doctor. . .$6000 a year out of a mid 30 something paycheck. . . plus everything else going on. I feel like I had more income when I was 18 working at minimum wage. I'm sure some economics major is going to come in and prove that I am indeed correct
 

jarfykk

Senior member
Mar 29, 2001
501
1
0
Do you have a choice in which insurance plan to use? Sometimes there's a cheaper plan with similar benefits, or might be cheaper for your number of employed...remember sometimes the family plan covers a LOT of people, others are sometimes broken down as self, self+one, self+three, etc...worth looking into.

Reason the family plans get so expensive is that employers usually pickup a large(r) portion of the first person on the policy, but pay less/none towards the additional insured people (so you windup paying a larger share out of pocket).

For the economics question: assuming you're 35yo now, when you were 18yo (1991), minimum wage (federal, some states were higher) was $4.25/hour...which translates into about $6.70/hour cents today once you factor in inflation.

2,080 hours a year working full time (40hrs/wk) = gross income of $13,936 in today's dollars. You were supporting one person, yourself, off that money; paid little or no income tax, and possibly/likely had additional support from family.

Today, you're supporting a family of 3 (or 4, wasn't clear) off some level of income where $500/mo of pre-tax dollars is a large burden. 1-to-1 multipliers are not very accurate, but while your income surely had gone up anywhere from 3-5 times (reasonable incomes where $500/mo is a pain) your 18yo income, your expenses undoubtedly have kept pace or increased, relatively speaking...a la the more you make, the more you spent school of thought.

Some of these increased expenses were your choices (children, where you rent/own, having a car or not, if you eat better/healthier now than at age 18, etc.), others were imposed, at some level, on you (higher fuel costs, higher insurance costs, etc.) and others were outside your control (randomly imposed costs like a car accident). All in all, the sum of these choices more than likely mean your disposable income might be lower than at age 18, but that your standard of living is higher. Choices...

Back to insurance, if there is a spouse, does he/she have health insurance that is cheaper for kids to be on? Can you qualify for a hardship exception to income limits for your state insurance for children? Another option may to look for another job (tough job market sadly) with better health benefits. Good luck to you.
 

EagleKeeper

Discussion Club Moderator<br>Elite Member
Staff member
Oct 30, 2000
42,591
5
0
Look at the insurance rate jump from 1 Dependant to 2. That is also what you should pay for yourself.
Anything less, is something additional that the employer is subsidizing for you as an employee over and beyond the family.

There may be options on the insurance to lower the rate, by decreasing the coverage and/or increasing the deductibles or changing plan types (if offered).

You could also look into the private world to see what the costs would be for just the child.
 

nakedfrog

No Lifer
Apr 3, 2001
58,552
12,864
136
Originally posted by: episodic
BTW - is insurance this bad for everyone else?

5 years ago, I was paying 198 for employee + kids - now it is about 2.5 times that. . .

No, it depends a lot on your company.
 

oddyager

Diamond Member
May 21, 2005
3,401
0
76
Originally posted by: episodic
BTW - is insurance this bad for everyone else?

5 years ago, I was paying 198 for employee + kids - now it is about 2.5 times that. . .

Depends on your company and how they negotiated your insurance. When i worked for a global software company I was paying less than what you were paying but moving to this new company I'm seeing doubled rates (dental and vision tripled).
 

Zee

Diamond Member
Nov 27, 1999
5,171
3
76
yeah it reaaaaaaaally depends on the company. unfortunately, it appears you ahve the short end of the stick. just like most of middle, lower-middle america.
 

Gooberlx2

Lifer
May 4, 2001
15,381
6
91
You might into whether they have a high-deductible plan that you could couple with a Health Savings Account.
 
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