Nanny Health Insurance
Protect
Your Nanny™
Services Available:
| |
Health Insurance: Short Term or Permanent |
| Life Insurance |
| Disability Insurance: Short or Long Term |
| Dental Coverage |
| IRA-Retirement Plans* |
 |
When
a family decides to hire a nanny, there are
other benefits that need to be provided besides
salary. Many states require Worker's Compensation
and, of course, all Government requirements for
employees must be adhered to.
Many families wish to provide health insurance as
an additional benefit, just as a company might provide
health insurance to its employees.
There are two approaches to health insurance:
permanent health insurance and temporary health
insurance. Permanent insurance can be renewed each
year, even if the nanny comes down with a serious
medical condition such as diabetes or heart disease.
Short term insurance is written for a specific period
of time, i.e., six months. If someone develops a
medical condition during the policy period, it will
be considered pre-existing under future plans.
The cost difference between the two types of
insurance plans is remarkable. Typically, the
short-term plan costs less than half of the permanent
insurance premium. The short-term plan can be used
for years, as long as their health remains good.
The permanent plan is usually used for a
nanny that will be staying with a family for years,
or will be a career nanny for the foreseeable future
and wants the protection only permanent coverage
can give. A nanny that gives a one year commitment
and plans to stay in child care for a short period
of time, i.e., one to two years, would be a good
candidate for the short term health insurance.
After insuring thousands of nannies, Iíve
found that more than 60% of the families are purchasing
short-term plans. They are the most cost-effective
and give nannies coverage for the major disaster
everyone is worried about. |
