Health Insurance for Children: Cost and Choice Nuances
September 25, 2015
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Lately we have been frequently asked which insurance company offers the best health insurance products for the kids and how much it all costs. It is mostly the cause of health and life insurance becoming more and more popular in our country. This made us draw up a brief set of some tips regarding the best possible choice for a corporate or private health insurance policy covering the children.
Which medical facility to choose?
The first thing to do before signing insurance policy is to study the capacities of the available medical institutions and then narrow your choice down to a couple of leaders.The first thing to do before signing insurance policy is to study the capacities of the available medical institutions and then narrow your choice down to a couple of leaders.
Just give preference to the ones which are equipped to provide medical services to the little ones the best. It’s as simple as that. There are awkward situations when a fancy clinic is perfect for the adults but is not suited to accept children at all. There are no toys, no playroom, no separate quiet waiting room for the kids. All other things including the price being equal, those are the factors which should define the final choice of the medical facility.
Don’t hesitate to google or ask around about the personal experiences of your friends, read the reviews on the Internet as well. After all, feel free to get a professional advice from insurance company or a broker regarding health and life insurance. In fact, there are only few clinics in Kiev which can offer top quality medical services for the children.
What about the extent of the coverage?
Once again, the cost of health and life insurance depends on the child’s age.
For the newborns the programs including newborn home nursing would be the best choice. Those should include routine check-ups by the pediatricians. Make sure to include provisions stipulating doctor’s visits and medications delivery straight to your home. In rare cases you might need to cover the cost of adult staying with the kid in the in-patient facility. Normally insurance companies pay for the hospital ward, but not the hospital meals.
For the older children the option of issuing medical certificates required by schools or camps as well as routine examinations by the doctor etc. would be of much use.
How much does it cost?
All the regular factors such as class of clinics, pharmaceuticals, deductible amounts or dental care limits put aside, the core factor which determines the price for the health insurance policy is the age of a child. The most expensive programs are for children under 1 year.
A private health insurance policy for one child will probably cost you around UAH 10,000 a 7-8 year old child. For the newborn to be properly insured you’ll need to pay twice as much. Covering your kid by means of corporate health insurance policy which allows for adding relatives and children to the standard program would be at much better price. For example, the newborn can be insured for only UAH 10,000-11,000 while the older ones can count on the price of around UAH 6,000-8,000. By the way, the cost usually includes the high class clinics in the program.
Frankly speaking, health insurance for the children is not profitable for the insurers. That’s why they often offer different kinds of deductible amounts for pharmaceuticals and medical facilities. Those nuances should be considered based on your child’s health and expected frequency of required medical assistance. If the cost of the insurance is less than you usually spent on your child treatment, then go for it!
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