the back-to-school insurance checklist every parent should have
TRANSCRIPT
THE BACK-TO-SCHOOLINSURANCE
EVERY PARENTSHOULD HAVE
CHECKLIST
HEALTH INSURANCEHEALTH INSURANCEHEALTH INSURANCEBy keeping an active
health insurance plan,
families can provide
children with regular
checkups and care
without breaking
the bank.
Does my family’s health insurance plan
provide sufficient coverage?
Are my college-bound children still
covered under my health insurance?
IS IT TIME TO REEVALUATE YOUR
HEALTH INSURANCE COVERAGE?
ASK YOURSELF THESE QUESTIONS:
IS IT TIME TO REEVALUATE YOUR
HEALTH INSURANCE COVERAGE?
ASK YOURSELF THESE QUESTIONS:
Consider the Children’s Health Insurance Program
(CHIP).
The standards for eligibility varies across states.
Find out more about your state’s requirements.
An estimated 8.1 million children have been
enrolled in CHIP as of 2014.
WHAT IF YOU CAN'T AFFORD HEALTH
INSURANCE FOR YOUR KIDS OR NEED
SUPPLEMENTAL COVERAGE?
WHAT IF YOU CAN'T AFFORD HEALTH
INSURANCE FOR YOUR KIDS OR NEED
SUPPLEMENTAL COVERAGE?
Coverage under parents' plan. If your plancovers children, they can usually be added or
kept on a parent's health insurance policy until
they turn 26, even if they're married and don't live
with you.
HEALTH INSURANCE OPTIONS FOR
COLLEGE STUDENTS UNDER AGE 26
HEALTH INSURANCE OPTIONS FOR
COLLEGE STUDENTS UNDER AGE 26
Student health plans. Many colleges and
universities offer student health insurance plans.
The premiums and plan features vary widely from
school to school.
Medicaid coverage. Medicaid is a combined
state and federal program that provides coverage
to people with limited incomes, disabilities, and
difficult family situations. Some states are
expanding the program to cover all adults below
a certain income level. Find out if you or your
child qualifies.
HEALTH INSURANCE OPTIONS FOR
COLLEGE STUDENTS UNDER AGE 26
HEALTH INSURANCE OPTIONS FOR
COLLEGE STUDENTS UNDER AGE 26
DISABILITY INSURANCEBefore you pass on disability insurance, consider
this: more than half of working Americans
couldn’t go one month without their income
before financial difficulties would kick in.
DISABILITY INSURANCEDISABILITY INSURANCE
If you have school-age children, how wouldthey be affected if you couldn't work?
The cost of back-to-school essentials is
staggering and keeps increasing, according to
the 9th annual Backpack Index survey:
2015 average for elementary school
student supplies: $649
2015 average for middle school
student supplies: $941
2015 average for high school
student supplies: $1,402
The cost for college student materials isoften even higher. If you assume responsibility
for your children’s school expenses and are
unable to work due to a disabling illness or
injury, you may face financial difficulties sooner
than expected.
Disability insurance can provide peace of mind if
the unthinkable happens and you are unable to
work and provide financially for your family.
Learn more about the essentialsof individual disability insurance.
HOMEOWNER'S INSURANCEHOMEOWNER'S INSURANCEHOMEOWNER'S INSURANCEAre your children going off to college?If so, now is the perfect time to reviewyour homeowner’s insurance policy.
Does your student live in a dorm,but maintain your home as their primary
residence?
Your homeowner's insurance policy maycover their possessions in the dorm room
or their car.
Some policies limit coverage for personal
possessions to 10% of total coverage for
personal property.
If your homeowner’s policy provides
$100,000 worth of coverage for your
belongings, only $10,000 would cover
the belongings your child takes with
them to school.
THINGS TO KEEP IN MINDTHINGS TO KEEP IN MINDTHINGS TO KEEP IN MIND
The average renter owns about $20,000
worth of personal property.
It’s likely your child’s possessions may
exceed a value of $10,000. If so, it’s
important to consider renter’s insurance.
THINGS TO KEEP IN MINDTHINGS TO KEEP IN MINDTHINGS TO KEEP IN MIND
Although it’s inexpensive, many collegestudents and their parents don’t consider
renter’s insurance.
Find out more about what it covers, how much it costs and what to look for
in a terrific policy.
FOR MORE INFOMore Insurance Tips
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