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Family Health Insurance The difficult part about getting family health insurance is locating the right plan. There are many providers that offer slightly different plans that are best suited to a particular situation. The reason is that the healthcare needs of a child are different than that of a senior citizen in addition to all of the variations that fall between. You can find the right insurance plan by understanding the needs of your family, researching the plans, and requesting quotes to get the best value.

Common Family Health Insurance Plans The most popular choice for affordable family health insurance is a managed care plan. A managed care plan operates a network where healthcare providers offer their services at discounted rates to participants. That means lower costs on things like premiums, coinsurance, and copays.

The three most common types of managed care family health insurance plans are PPO (Preferred Provider Organization), HMO (Health Maintenance Organization), and POS (Point of Service) Plan.

PPO PPO plans offer comprehensive coverage with flexibility. Participants save money by using in-network providers but do have some out of network coverage. PPO plans tend to be more affordable than their counterparts.

HMO A HMO is a very popular choice for family health insurance coverage due to its inexpensive nature. It is not hard to find a HMO that does not require a deductible and offers low copays. However, there is no coverage out of network. Your primary care physician must be chosen from the network. If a specialist is required, that physician will provide a referral.

POS Plan A POS plan is a combination of a PPO and HMO. You choose a primary care physician from in-network but the plan does provide some coverage should you want to go out of network. The POS plan tends to be more expensive than a PPO or HMO.

Alternative Thinking On Family Health Insurance Coverage A family health insurance plan is a great way to protect the health of your family. It may not be the most cost effective way to get the coverage you need at a great price. A chronic or preexisting condition can drive up the cost of a health insurance plan. You may be able to save money by covering family members that need specific care on their own individual insurance plans with those who need similar care in a family plan.

Before you delve into this angle, we need to address FFS (Fee for Service) plans. FFS plans are a very popular choice for individual health insurance but may not be a good choice for a child’s coverage. This type of plan is not managed care, thus does not have a supporting provider network. They tend to be more expensive than other plans and not have good preventative care coverage. A FFS plan is effective for some but generally suboptimal for covering family members.

A HMO or PPO will most likely provide the best coverage for the cost if you opt for individual coverage of a family member to address specific needs such as asthma or diabetes.

Covering Family Members On Your Individual Health Insurance Plan There are insurance companies that will allow you to add family members to your individual health insurance plan. This will generally be the most affordable choice for a family without specialized medical needs. Remember – get multiple quotes!

Preventative Care: The Cornerstone For A Healthy Lifestyle Those looking for a family health insurance plan because they have or are expecting children want to ensure that their plan offers solid preventative care coverage. Preventative care coverage ensures regular check ups are accessible and affordable.

Many managed care family health insurance plans provide coverage for preventative care such as well-baby care, immunizations, vaccinations, physicals, and routine check-ups. A managed care plan can lower costs to as little as $ 10 for a visit or prescription for preventative care. There are even managed care plans that eliminate the cost of preventative care services altogether.

Why? It is good business for the insurance company for you to be healthy! You and your family staying healthy helps keep their cost of doing business down. Controlling cost of business helps to keep premiums at an affordable level. An illness caught in the early stages is easier to successfully treat. A proactive approach to wellness benefits you, your family, your bank account, and the insurance company.

Maternal Coverage Maternal coverage should be viewed as a necessity if you are planning on starting a family or have a baby on the way. Though it will add a bit more to the cost of your health insurance plan, it will be an invaluable resource for protecting the health of mother and child.

Coverage is typically broken down between inpatient and outpatient services. Inpatient coverage will normally cover any hospitalization and physician fees that are associated with child birth. Outpatient normally covers prenatal and postnatal OB-GYN visits.

The coverage you receive will differ between plans. Some companies will apply the deductible before providing for maternal care while others will waive it altogether. All details should be readily available from your prospective insurance company.

Considering It All There is a lot of possibilities addressed in this document with very loose language. The reason is that there is no one size fits all solution for health insurance if you want the right coverage for the best price. Each person will have different needs for their family health insurance plan. But there is good news! An affordable plan that meets your needs is out there. Identify what you need from your plan, get started requesting quotes, and explore the details of the plan so you can get the best value for your family.

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