Stand-alone child health insurance policies are health insurance plans where a child can be insured alone, without having to be a dependent on one parent’s plan. They are a good option for parents who want to provide their children with comprehensive health coverage, but already have health insurance in place. This can include work provided or individually sourced plans.
What is covered by a stand-alone policy?
Stand-alone child health insurance policies are typically the same plans as adults can access. There are some benefits which are particularly useful for children and these can include child wellness which includes well-child visits, immunizations, and screenings.
Some common areas of coverage include:
- Outpatient visits
- Hospitalisation and surgery
- Prescription drugs
- Vision and dental care
What are the benefits of a stand-alone child health insurance policy?
There are several benefits to having a stand-alone child health insurance policy, including:
- Comprehensive coverage: Stand-alone child health insurance policies allow your child to access premium health insurance coverage without being a dependent on a parent’s plan. Given that insurance usage is high in children, this can be a big benefit. We see many cases of parents choosing not to insure their children as they do not want to double insure themselves. Stand alone child plans are the solution to this problem.
- Affordability: Stand-alone child health insurance policies can be more affordable for families where a parent or both parents are already covered. The alternative is a parent double insuring in order to set their child up as a dependent on their plan, which is not cost effective.
- Flexibility: For many families, it’s just not practical to have all members insured under one plan. Using multiple plans allow benefits to be tailored as to the needs of each family member.
- Portability: Stand-alone child health insurance plans can be portable, which means that you can take your coverage with you if you move to another country or change jobs. This is important for families who are frequently on the move, both geographically and in their career.
How to choose a stand-alone child health insurance policy
When choosing a stand-alone child health insurance policy, there are a few factors to consider, including:
- Coverage: So many Expats in Thailand use health insurance plans which will not protect them adequately in the event of high cost claims. Make sure you purchase adequate coverage when buying any plan. We recommend that you cover to at least 5 million THB per year. Want to find out more about why? Check out our article: https://www.seek2insure.com/the-dangers-of-underinsurance/
- Cost: Understanding value points across the market is crucial when buying health insurance, and especially when buying child coverage. Paying more premium does not always mean you’ll access better coverage, and simultaneously paying less doesn’t always mean lower coverage.
- Provider network: If you have a preferred hospital, it’s important to make sure that it’s in the network of your insurer.
How to apply for a stand-alone child health insurance policy
Applying for a stand alone child policy is much the same as applying for an adults health insurance policy. You will need to complete an application and depending on the provider, provide a copy of your child’s medical records. Remember, providing a full declaration of medical history is an essential part of making sure health insurance delivers for you in the future should you need it.
Once you have applied for coverage, the insurance company will review your application and determine whether to approve you. This process is known as underwriting. Any specific conditions on coverage will be highlighted at this stage.
Conclusion
Child only health insurance policies are a good option for parents who want to provide their children with comprehensive health coverage, but do not want to double insure themselves given they already have work provided health insurance.
Additional tips for choosing a stand-alone child health insurance policy:
- Read the fine print: Understanding the policy wording of any health insurance plan is a prudent step in understanding the finer details of your policy. A good intermediary should have this taken care of for you, but familiarising yourself with the fine print makes sense.
- Ask questions: A good broker should be all ears when it comes to your questions regarding health insurance.
- Compare quotes: Understanding what is available in the market is an essential part of choosing any health insurance plan. Only when you have looked at the market will you know which options truly meet your needs and requirements.
At Seek2Insure our approach is, and always will be, driven by the needs of our clients. Contact us today and book a consultation so we can help you find the best stand alone child health insurance plans the market has to offer.
