Health Insurance Plans For Self-Employed Single Parent
May 14th, 2009
It doesn’t matter how a baby arrives. The baby can be adopted, or naturally born to the mother. The child can be born in the marriage union, or out of wedlock. Health insurance companies do not discriminate against babies, no matter how they come into the world. Single fathers who want to add their children to their self-employed health insurance plan can do so. Your health insurance provider may ask you to provide a copy of the birth certificate, and you may be asked for a judge to declare you as the paternal parent.
Being unmarried has no bearing on you being able to get health coverage for your child, although your parentage has to be established. You may need to have a DNA test done to establish you as the father of the child required by law. If you have a personal policy or health insurance for self employed people, you will need to add the child, by filling out the forms, after you have proven your paternity. If you have questions about adding your child to your health insurance policy, you can make a call to your agent for answers. Other than proving your parentage through the court, insuring a child out of wedlock is the same as insuring any child.
Adding a child to your policy is a change, and that change may raise your premium. However, you can tailor your health insurance plan in a way that is easiest for you to manage. If you feel you need to lower your premiums you can ask your agent for a higher deductible. If your health insurance for the self-employed deductible is high enough, you may qualify for a pre-tax HSA (health savings account) as an individual at your local bank. The money that you would be saving on the lowered health insurance premium could go into the HSA. By changing to a higher deductible on your plan, you could save a few hundred dollars a month. That money could go into an HSA; by opening an HSA you could be way ahead financially. By the time you or your child needs to use the insurance you would have the savings in the HSA to cover the cost of health care.
There’s no way around it; health insurance is expensive. If your health insurance for the self-employed is an HMO, you might want to change to a PPO. A PPO allows you to choose your own doctors, and in many cases you just pay one annual deductible, rather than paying a co-pay at every visit. With a PPO you can even use a doctor that is out of the health insurance network on your provider list. You would pay a little more for going out of network, but knowing you can choose your own doctor can give you peace of mind. As a father, if you have any questions about how to add your child to your policy, or if you have any questions about amending your health coverage talk to your health insurance representative.
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