When looking at federal health care plans, it says that individuals who are of 21 years of age are eligible for “Children’s Health Insurance Program (CHIP)” or that you are eligible for a private health insurance plan. What is the benefit of the CHIP program vs. another health care plan?

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Posted by Grace Barlow (MONEY FORUMS: 4, Answers: 1)
Asked on March 2, 2016 3:05 pm
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CHIP tends to be lower cost than a healthplan available through the healthcare exchange. CHIP is federally subsidized and at least in the state where I live (NC) has every major provider in network. Some states may find that access to quality providers is limited by being on CHIP.

If your child qualifies for CHIP, I would definitely sign them up. It can be a huge cost savings. You can learn more on Healthcare.gov (don’t expect too much assistance from phone support though),

This is one article that helps explain ACA/CHIP guidelines. It’s not from an expert, but it should be helpful.

http://rootofgood.com/affordable-care-act-coverage-subsidies-pitfalls/

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Posted by Hannah Rounds (MONEY FORUMS: 1, Answers: 54)
Answered: March 3, 2016 11:32 am
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