Within the past 2 months I have been inundated with calls, folks are asking for medical coverage for their children with current medical conditions that would normally been declined due to underwriting requirements.  With the Health Care Reform children are guaranteed coverage regardless of their pre-existing conditions.  That didn’t sit too well with most insurers.  So what will insurance companies do to offset the cost they will incur with these changes?

Always remember Insurance carriers are in the business to make profit.  At first I thought they would raise health insurance premiums on all individual family plans.  The more I thought about that the more it didn’t make sense.  So what will they do?

All the major insurance companies excluded child only policies.  Of course that’s what they would do. So with that in mind, if you want to insure your child a parent must apply for coverage as well.   In result, you will pay higher health insurance premiums monthly.  That is obviously the main objective for the insurance carriers. If the insurance companies have to insure your child with certain pre existing conditions this could become very costly for carriers and possible even put them out of business.  That is how they will offset the cost of guaranteeing coverage for children, regardless of any pre-existing condition.

If you run into a similar situation a great tip to lower your health insurance premiums on your individual family plan is to opt for a high deductible health plan.