How do you pay for your kid’s health care?
You can get a loan, or you can borrow from friends or family.
That’s how you can pay for a plan that will provide a high-deductible health insurance plan for your children, if you don’t have a lot of savings.
Here’s how to figure out how much you can afford and how much it will cost.
What’s a health insurance loan?
A health insurance financing program, or HIP, is a type of loan that gives your child a monthly payment to help cover expenses that come with having a child.
The federal government has issued over 10 million HIP loans, according to the U.S. Department of Health and Human Services.
To qualify for a HIP loan, you need to have: $25,000 in income or $100,000 for married couples, or $500,000 if you’re single