Health Insurance for Stay-at-Home Moms: 5 Savvy Strategies to Keep Your Family Covered

by Major League Mommy
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Health insurance is challenging for anyone, especially for stay-at-home moms. The lack of employer-sponsored plans forces many stay-at-home moms to find alternate solutions to obtain quality healthcare coverage for themselves.

For some help, below are the five best ways for stay-at-home moms to get health insurance, offering practical advice to ensure you’re protected.

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5 Best Ways for Stay-at-Home Moms to Get Health Insurance

Purchasing Coverage Through the Marketplace

If you can’t sign up for your spouse’s plan or get a government-sponsored one, buying medical coverage from the marketplace is another alternative you have. The individual marketplace allows you to get a plan from health insurance marketplaces or insurance companies.

Look up plans that meet your specific requirements and budget. Use the tools and resources the marketplace offers to make your final choice the right option for you. Additionally, watch out-of-pocket costs, copayments, deductibles, and monthly rates.

Depending on your family size, you can apply for tax credits and subsidies that might offset and lower the cost of your monthly premium.

When buying health insurance on the individual marketplace, one should understand the ins and outs of different plan types. For instance, is POS the same as PPO? Both demonstrate flexibility in doctors’ choices, but a POS plan requires a referral from a primary care physician to visit a specialist. In contrast, in a PPO plan, you can see a provider without getting a referral.

Join in on Your Spouse’s Insurance

The most cost-effective health insurance for stay-at-home moms is participation in their spouse’s job-sponsored health program. Most companies allow employees to add a dependent to their health insurance coverage.

The cost of adding a dependent to the job-sponsored plan is less than obtaining an individual policy because employers cover the more significant part of the employee’s premium. Sometimes, they also extend coverage for the whole family at discounted prices.

If you’re offered a variety of health insurance plans, take the time to analyze them to know which is best. Run the numbers or get to the nuances like in-network providers, copayments, deductibles, and covered benefits. Take note that if you’re added to your spouse’s plan, you might not be eligible for some subsidies or tax credits.

Many health insurance companies have realized the need for spouses to add their partners as beneficiaries. It ensures the family’s financial and emotional stability.

If you’re interested in this option, your next move should be to contact your spouse’s Human Resources (HR) department for details on the coverage package.

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COBRA Continuation Coverage

Imagine that you have just given up working to become a homemaker. In such a case, you can continue your coverage on an employer-sponsored health insurance plan through the Consolidated Omnibus Budget Reconciliation Act, COBRA. This act of federal law permits employees and their families to maintain their group health coverage after resigning.

Here are some key things to know:

  • You should be informed of your COBRA privileges within 44 days after the qualifying reason occurs.
  • You have 60 days to decide on whether to select COBRA coverage.
  • If you chose the coverage, the effective date would be backdated to when you lost your employer plan.
  • You’re allowed to stay under COBRA for as long as 18 months.
  • The total premium has to be paid, plus a small administrative charge.

The principal advantage of COBRA is that it enables you to retain the exact coverage you had during your employment. It’ll be beneficial if you have a preexisting condition or are in the early stages of treatment.

Nevertheless, the premiums can be very costly as you must pay them themselves. For a family, COBRA insurance can cost up to $1,000 monthly.

Enrolling in Government Programs like Medicaid or CHIP

The government provides health insurance opportunities through programs like Medicaid and the Children’s Health Insurance Program (CHIP). The pledge of these programs is carried out after checking different factors like household income and family size.

These plans include essential health benefits such as prescription drugs, maternity care, and preventive care. Copayments for certain services may be needed, but you pay less than private insurance.

Through your state’s Medicaid website, you can find out whether you’re eligible to get the services or simply reach out to the social services department in your local area. They can walk you through the application procedures and help you understand which coverage suits you best.

Exploring Short-term Health Insurance Options

Short-term plans may fill the gap for stay-at-home moms who require a stopgap for the period that they want it to. These plans cover a particular time frame, usually up to 12 months.

The premiums in short-term health insurance plans are much more affordable than other options. However, these plans usually have more significant coverage limitations.

Check out short-term plans on the market, compare the costs and benefits, and comply with state rules. Look for a plan that addresses your current health challenges and is comfortable in your pocket.

Final Words

It’s important to take preventive measures to ensure you have the coverage you need to enjoy peace of mind and good health. Start now by evaluating where you stand with your coverage and considering the plans discussed in this article. Select the option that suits you best and secures your family’s health and peace of mind.

And if you’re concerned about coverage for things like dental care, there are many cost-effective options out there including Dental Discount Plans.

With a little bit of research and planning, you can ensure that your family stays covered.

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