{"id":677,"date":"2020-01-16T03:00:00","date_gmt":"2020-01-16T09:00:00","guid":{"rendered":"https:\/\/jasonmpalmer.com\/?p=677"},"modified":"2020-01-10T03:39:19","modified_gmt":"2020-01-10T09:39:19","slug":"benefits-of-adopting-a-child-through-foster-care","status":"publish","type":"post","link":"https:\/\/fostercarenation.com\/index.php\/2020\/01\/16\/benefits-of-adopting-a-child-through-foster-care\/","title":{"rendered":"Benefits of adopting a child through foster care"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Here are a few of the financial benefits of adopting a child from foster care. But, before anyone gets confused I want to clarify a few things. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Foster care is not a place to make money! In some other countries, it is considered a job that you are paid to do. Here in the US, it is a passion project that usually ends up costing you a few dollars every month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So before you start reading this article, please realize that the financial benefits you receive will help to buffer some of the costs you will incur. However, you are not going to \u201cmake money\u201d or get rich by fostering or adopting.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If your heart is burning to help the helpless and you choose to look at the foster and adoption system, be sure to utilize the benefits that are available to help you and your child!<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Financial Benefits of adoption a child from Foster Care&nbsp;<\/h1>\n\n\n\n<ul class=\"wp-block-list\"><li>Adoption Tax Credit<\/li><li>Practically Free Adoption<\/li><li>No Agency Fees<\/li><li>Medical Insurance<\/li><\/ul>\n\n\n\n<h1 class=\"wp-block-heading\">Adoption tax credit<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Government\u2019s <a href=\"https:\/\/www.irs.gov\/taxtopics\/tc607\">Adoption Credit and Adoption Assistance Programs<\/a> are detailed on their website. I do not claim to be a tax professional (I pay someone to do my taxes so I don\u2019t need to be!). <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The basics are that you can receive a tax credit for up to $14,080 if you adopted a child this year. There is an income cap applied to this benefit. If you make more than $251,160 per year, you may not be eligible for the tax credit. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As always, consult your tax professional to understand how this affects your personal situation.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Practically free adoption<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Years ago when my wife and I first looked at adoption, I was blown away at the costs that could be associated with adoptions, especially international adoptions. That is when we felt led towards foster care. Our involvement in the foster care system led to several adoptions down the road. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I was equally surprised that the cost of adoption from the foster care system in the State of Missouri was practically free! The state covers most of the legal and filing fees associated with the process.\u00a0<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">No Agency Fees<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">If you look into adoption through an adoption agency, you will find that adoption agency fees are not cheap! According to this article by <a href=\"https:\/\/www.adoptioninstitute.org\/news\/why-is-adoption-so-expensive-a-look-at-the-rising-costs\/\">adoptioninstitute.org<\/a>, you will see that the fees are roughly $36,000 &#8211; and this article was written in 2016.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">Medical Insurance<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">Health insurance is a hot-button issue in the US right now. With the rising cost of insurance, it is always prudent to consider your potential costs. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the state of Missouri (where my family resides), the state will provide medical care for children adopted through the foster care system. The medicare system has its flaws, drawbacks, and difficulties but it is nice to know that if you need health care assistance for a child it will not be a barrier to adoption. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, most (if not all) insurance policies will cover an adopted child the same way they cover your biological children. For us, it was not even any additional costs to cover them. I already paid for family coverage and the added number of children had no impact on the cost. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As an added benefit, they are still eligible to use the state health insurance on top of any private insurance that you may already have for them.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are a few of the financial benefits of adopting a child from foster care. But, before anyone gets confused I want to clarify a few things. Foster care is not a place to make money! In some other countries, it is considered a job that you are paid to do. Here in the US,&#8230;<a class=\"read-more-link button\" href=\"https:\/\/fostercarenation.com\/index.php\/2020\/01\/16\/benefits-of-adopting-a-child-through-foster-care\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","libsyn-item-id":0,"libsyn-show-id":0,"libsyn-post-error":"","libsyn-post-error_post-type":"","libsyn-post-error_post-permissions":"true","libsyn-post-error_api":"","playlist-podcast-url":"","libsyn-episode-thumbnail":"","libsyn-episode-widescreen_image":"","libsyn-episode-blog_image":"","libsyn-episode-background_image":"","libsyn-post-episode-category-selection":"","libsyn-post-episode-player_use_thumbnail":"","libsyn-post-episode-player_use_theme":"","libsyn-post-episode-player_height":"","libsyn-post-episode-player_width":"","libsyn-post-episode-player_placement":"","libsyn-post-episode-player_use_download_link":"","libsyn-post-episode-player_use_download_link_text":"","libsyn-post-episode-player_custom_color":"","libsyn-post-episode-itunes-explicit":"","libsyn-post-episode":"","libsyn-post-episode-update-id3":"","libsyn-post-episode-release-date":"","libsyn-post-episode-simple-download":"","libsyn-release-date":"","libsyn-post-update-release-date":"","libsyn-is_draft":"","libsyn-new-media-media":"","libsyn-post-episode-subtitle":"","libsyn-new-media-image":"","libsyn-post-episode-keywords":"","libsyn-post-itunes":"","libsyn-post-episode-itunes-episode-number":"","libsyn-post-episode-itunes-season-number":"","libsyn-post-episode-itunes-episode-type":"","libsyn-post-episode-itunes-episode-title":"","libsyn-post-episode-itunes-episode-author":"","libsyn-destination-releases":"","libsyn-post-episode-advanced-destination-form-data":"","libsyn-post-episode-advanced-destination-form-data-enabled":"","libsyn-post-episode-advanced-destination-form-data-input-enabled":false,"libsyn-post-episode-premium_state":"","libsyn-episode-shortcode":"","libsyn-episode-embedurl":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[63,18],"tags":[102,101,64,103,96,95,100,98,99,97],"class_list":["post-677","post","type-post","status-publish","format-standard","hentry","category-adoption","category-foster-care","tag-adopt-a-baby-for-free","tag-adopting-for-free","tag-adoption","tag-adoption-agency-fees","tag-benefits-of-adopting-a-child-through-foster-care","tag-financial-benefits-of-adopting-a-child-through-foster-care","tag-free-adoption","tag-health-insurance","tag-health-insurance-benefit","tag-tax-credit"],"jetpack_publicize_connections":[],"jetpack-related-posts":[{"id":1893,"url":"https:\/\/fostercarenation.com\/index.php\/2021\/07\/04\/all-the-faces-of-foster-care-with-natalie-chavis-fisher\/","url_meta":{"origin":677,"position":0},"title":"All the Faces of Foster Care with Natalie Chavis Fisher","author":"Jason","date":"July 4, 2021","format":false,"excerpt":"Natalie Chavis Fisher\u00a0is a best-selling author, third-generation attorney and executive producer for the feature documentary\u00a0Foster Care: Perfect Imperfection. She is a leading expert in foster care adoption committed to helping improve the lives of vulnerable children and their caretakers. 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She does her best writing on retreats with a nearby hot tub, in any castle, or within view of the sea.\u00a0 Over the last twenty\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Marcy-Pusey-1500.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Marcy-Pusey-1500.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Marcy-Pusey-1500.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Marcy-Pusey-1500.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Marcy-Pusey-1500.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":675,"url":"https:\/\/fostercarenation.com\/index.php\/2020\/01\/14\/how-long-does-it-take-to-foster-to-adopt\/","url_meta":{"origin":677,"position":4},"title":"How long does it take to foster to adopt?","author":"Jason","date":"January 14, 2020","format":false,"excerpt":"The process of adoption through the foster care system can be anywhere from fairly simple to time-consuming and complex.\u00a0 The short answer is that the foster to adopt process can take 6 months (plus the time for filing court documents), all the way up to 28 months if you are\u2026","rel":"","context":"In &quot;Adoption&quot;","block_context":{"text":"Adoption","link":"https:\/\/fostercarenation.com\/index.php\/category\/adoption\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2020\/01\/DSC_3505-scaled.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2020\/01\/DSC_3505-scaled.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2020\/01\/DSC_3505-scaled.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2020\/01\/DSC_3505-scaled.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2020\/01\/DSC_3505-scaled.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2020\/01\/DSC_3505-scaled.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":2149,"url":"https:\/\/fostercarenation.com\/index.php\/2022\/06\/12\/daily-struggles-inside-foster-care-and-adoption-with-author-jillana-goble\/","url_meta":{"origin":677,"position":5},"title":"Daily Struggles Inside Foster Care and Adoption with Author Jillana Goble","author":"Jason","date":"June 12, 2022","format":false,"excerpt":"Jillana\u00a0Goble\u00a0is a speaker, author, and advocate. She holds a master\u2019s degree in teaching. Together with her husband, Luke, she parents five children ranging in age from preteen to young adult. Jillana is the founder of an unprecedented initiative that has turned into a statewide movement called Every Child Oregon. In\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Jillana-Goble-1500.png?fit=1200%2C1200&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Jillana-Goble-1500.png?fit=1200%2C1200&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Jillana-Goble-1500.png?fit=1200%2C1200&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Jillana-Goble-1500.png?fit=1200%2C1200&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/fostercarenation.com\/wp-content\/uploads\/2022\/06\/Jillana-Goble-1500.png?fit=1200%2C1200&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/pbv0Lz-aV","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/posts\/677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/comments?post=677"}],"version-history":[{"count":1,"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/posts\/677\/revisions"}],"predecessor-version":[{"id":678,"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/posts\/677\/revisions\/678"}],"wp:attachment":[{"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/media?parent=677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/categories?post=677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fostercarenation.com\/index.php\/wp-json\/wp\/v2\/tags?post=677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}