Should adoption be covered under insurance like pregnancy?

HappyMomAnna

As an Insurance Agent---NO, not with Medical Insurance since the adoptive parents do not have medical costs or any risks associated to the medical situation of Adoption. Medical Insurance is supposed to help cover medical costs and offer coverage to Avoid future medical situations. Such, as happened to me when it was discovered 22 years later the wrong sutures were used for my C-section.

As an Insurance Agent I would highly recommend that people paying a lot of money to adopt especially domestic infant-- invest in Adoption Insurance which will help recover any lost investment due to a change of plans.

In order to Have Insurance you must have a legal right to claim the losses of the Person or Property (an Insurable Interest) being insured and since Adoptive Parents do not have a legal right to the person or property being insured UNTIL it is Legally Theirs to Insure there isn't a method in the current Insurance Code to offer such coverage. You can't insure what isn't yours yet--so...there isn't anything to insure until you do.

And the person with the right to insure the person or property before the birth is the person who is pregnant and will have medical costs. You can't buy Life Insurance on just anyone either--unless you have a legal right to insure the persons Life. I can Buy Life insurance for my minor Children but, If I want to buy it for my Father then he would have to be notified, agree and would technically be the owner of the policy.

Also when it comes to Pregnancy the majority of Insurance Policies will Exclude coverage for a pre-existing pregnancy. So, even if it were possible to offer medical insurance for the mother of an unborn baby she would have to added to the policy before she became pregnant and well--that would open up a bunch of cans of something stinky.

Other issues would come up, such as if the mother decided to parent after the baby was born Who would be liable for the medical insurance paid out?

If insurance companies allowed this arrangement for coverage prior to the birth and still allowed the payments for coverage even if the mother chose to keep the baby--How Many People would be adding Pregnant woman to their policies and just saying it was a plan for adoption?

It's also NOT possible to add a person to your Personal Health Insurance policy unless they are Your minor Children or under the age of 25 and attending college full time. My 25 year old Son who is out of college Cannot Remain on our health insurance and my old mother can't be added--so, why would a pregnant woman be able to be added? Since the medical Insurance would cover her and the adoptive parents are not the parents of the baby until the Judge says they are.

monkeykitty83

No, adoption should not be covered by medical insurance, as it's not a MEDICAL matter. While both result in being a parent, it's totally different in terms of appropriate coverage, as it's a legal process versus a physical process. Covering something totally non-medical with medical insurance would frankly be a waste of resources, and drive everyone's costs up.

Adopted children and biological children grant their parents the same tax exemption on their annual returns. So yeah, same deduction. As it should be, because they're all children being parented during that year. (Unless you mean the one-time adoption credit, rather than the actual deductions. Which is a totally different matter given tax credits are calculated based on money already paid, and are credits on those prior payments, not free cash.)

Adoptive and biological parents are both "real" and equally valid parents, but the process is totally different. It doesn't make sense to try to force them to be exact equivalents in terms of things like insurance coverage, though any dependent child rightly provides the same tax exemption.

tricia123

no adoption shouldnt be covered by insurance. they do have some employee programs out there that will reimburse you for certain moneys that you pay out for adopting.
and once you adopt you can add that child to your medical insurance just like you do/did with any other children you have.

the tax deduction you get for an adopted child or your biological child is the same. you can also get this same tax deduction if you are raising your neices/nephews/grandkids

Information on the 1 time adoption credit:
http://www.cwa.org/adoption_tax_credit.htm

no - for medial insurance

pregnancy although not a disease, is still a medical condition wth lots of medical care needed, and can cause problems for the woman's body and need more med. care

adoption does not

but an adopted child brings the same expences as a biological child, that's why adopted child can be claimed as a dependent on taxes the same as a biological child

grapesgum

No. Adoption from foster care is nearly free. There is no need for this. Adoption agencies will only use it as an excuse to increase their fees even more to line their pockets.

I also think that the adoption tax credit should be revoked for all adoptions except foster care adoptions. Applying the tax credit to international adoptions and domestic infant adoptions is an abuse of the original intention of the program

I think the focus should be making sure that adoptive families who adopt from foster care have equal access to employer programs that give maternity and paternity leave and, if the employer does not offer that benefit, I would support a federally funded program that provides time off for the family.

IDK!!

no, it's not a health service, but the child's health should be covered.

I think the tax credit was "intended" to find home for kids who need them and the government thought it would encourage such adoptions, but the adoption agencies now just charge more for their "services" and THEY are the ones encouraged to create more adoptions, needed or not.

I would rather see the credit go towards the specific care of special needs children, such as making it possible for them to say in their home where the can not afford adiquate care, but don't qualify for assistance or supportive care for families who are willing to adopt special needs kids, but need extra support.The money should go towards keeping accurate records.

Without the credit there will still be a overwhelming amount of people wanting to adopt. We didn't know about the credit until after we agreed to adopt, and every cent went to pay for his first few days in the NICU and doesn't even touch the huge amount of medical bills we face.

urbanfarmhouse

No, I insurance isn't there to cover adoption fees. Personally, I don't think it should cover infertility treatments that falsely inflate the rates the rest of us pay, either, but that's a different question.....

There are tax remedies for adoption fees. There are also many churches and non-profits who have family-focused programs to off-set fees. I'm not sure of the specifics of the one time adoption tax credit, but if you're considering adoption, you should consult an attorney who specializes in the field so he/she can advise you of your obligations, rights, and financial requirements.

Mommy of 2

I think it would help to place more children if someone would cover some of the expenses so you actually have money to raise the kid...after paying so much to get them you have nothing left to buy them anything lol...

and yes tax deduction is the same...it is leagally your child and no matter when you get a child or have a child as long as it is before dec 31st at 1159 they are tax deductable that year.....I had my son 3 days before the end of the year and they let you claim them for the whole year!

Having Fun on Y!A

that sounds dangerous. i know that adoption can be great for kids with no one else but u have to think of the other side. who wants to adopt kids? some people want to adopt them bc they cant have any, or they just want to add some love to a lonely kids life. BUT there are perverts out there with plenty of insurance, so if that were the case it would be a pedophiles dream. someone doesnt have to have a record or conviction to be a freak.
i think the price of adoption should stay high.

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