If you decide to forgo your employer health insurance plan or it isn’t even offered and you’re single, shopping for personal insurance isn’t that hard because you only need to worry about one person. But if you have a family, trying to buy family health insurance can be difficult because you have to make sure everyone in your family is covered properly. While this can be expensive, it’s very important that each and every family member be insured because expenses can add up quickly even in a minor accident. You may try to pay for everything out of pocket and forgo insurance but it’s likely will still end up paying more than if had a family health insurance plan. Remember that you have options and if you can find the right provider and plan for your family, you can rest easy knowing their health is taken care of.
Benefits of Family Health Insurance
The most important benefit of a family health insurance plan is that it insures your entire family. Employer sponsored plans can do this as well but if you are in a position where that is not an option, you need to invest in a private family plan. It can offer you flexibility in coverage and depending on your plan, you can either tailor it to each member of your family, the entire family as a whole, and sometimes both. This flexibility in coverage will help you figure out what kind of budget you need to set aside each month for your premium payments. By speaking with an insurance agent to develop a personalized plan, you may actually find that family health insurance is more affordable considering what you’re getting.
How Does Family Health Insurance Work?
When you go buy family health insurance, there are going to be many different options available to you. Understanding what they are and how they can benefit you is going to be the first step in choosing the best plan for your family. One of the most common plans you will find is the managed care plan. There are several variations of this but overall, this is considered to be an affordable option for families. Under this plan, different medical providers are pooled together to create a type of network that offers their services at a certain price for people subscribing to the managed care plan. The different types of managed care plans are as follows:
Preferred Provider Organization (PPO)
If you go to a preferred provider in your coverage network, you are going to pay less than when you go to a provider that is outside of your network. You will still have some coverage with outside providers.
Health Maintenance Organization (HMO)
This kind of plan establishes a primary care physician who is your first contact for all medical issues. If you need to speak with someone else, your primary physician can recommend another provide in your network. Be sure to listen though, because out of network providers aren’t covered.
Point of Service Plans (POS)
With this type of plan, you will have a primary care physician who can refer you to another specialist if needed but you have the choice of going in-network or out of network. Both will be covered but at varying prices.
There are some other important issues that you need to consider when choosing a plan. Ask your insurance company how they structure deductibles. Ideally, you want to have individual deductibles as well a family deductible. This way, you can make sure coverage will be provided not matter who or what happens. AT the same time, be sure to ask about how preventative care is handled in your policy. This is extremely important for young children but adults need it as well. Good preventative care can help discourage more serious illnesses. Normally this will be offered at a reasonable price. The average family can expect to pay between $400 and $500 per month for health insurance when it comes to costs. That may seem expensive but if you have the right amount of coverage, it’s definitely going to be less than your average trip to the doctor and pharmacy.
To protect your family’s health, buy insurance coverage today.