The Children’s Health Insurance Program (CHIP) is something many families depend on. If you are unfamiliar, CHIP is a federal health insurance program run at the state level for children if their families make too much for Medicaid, but not enough for private coverage. There are currently 8.1 million children enrolled in the program and it costs $13 million annually. However, funding for CHIP is going to dry up starting in October 2015 and it’s revival has not been approved. Both houses of Congress currently have the bill proposing CHIP’s extension, but neither has voted on it yet.
It is expected for children to eventually benefit from the Affordable Care Act (ACA) or Medicaid depending on what state they are in. However, as it stands, more than two million will not qualify. Due to something referred as the “family glitch” the children will not qualify. According to NewsMax, “the glitch occurs when one or both spouses in a family are offered affordable individual employee-sponsored insurance, but family coverage is either not offered or is unaffordable.” Now (before CHIP loses funding) “947,000 spouses and 984,000 children could be left uninsured.”
It’s important to make sure that health insurance for your children is in place for the future. These new developments may just affect your family. Make sure you’re covered.