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If you’re in the market for a family healthcare plan, this post has some tips that can help you sort it all out and make sure you’re purchasing a health insurance plan that meets your family’s unique needs.
Health insurance comparison doesn’t have to be difficult.
Healthcare plans often have a lot of moving parts and are often presented in language that can be confusing.
Buying an individual healthcare plan can be plenty difficult by itself, but start adding dependents and spouses to the plan and it can get even more challenging.
Are you expecting any changes over the next year?
It’s hard to plan in advance for healthcare related events since most of them tend to crop up out of the blue. But there are some things that you know you’re going to need health insurance for.
If you or one of your children (or any dependent on your health insurance policy) has an ongoing or recurring health issue, then you’ll need to plan for that.
The Affordable Care Act mandates that all healthcare include coverage for standard screening and preventative medicine (think cholesterol screenings and mammograms) be included in the price of the policy, treatment for any ongoing condition will cost you a bit extra, or rather it will necessitate purchasing a more expensive policy.
In families with children it’s often better to err on the side of caution and purchase slightly broader coverage than you might otherwise purchase, though this will depend on your ability to pay.
If you plan on adding to your family in the coming year, those associated costs should also be considered when choosing a package.
Are your current doctors in your network?
If you already have a family doctor or are seeing a specialist that you’d like to continue seeing, then make sure that the plans you are considering include your doctor in their network. While it is still possible to see a doctor outside of your insurer’s network in most cases, it will typically cost you more than a doctor who is not in your network.
Will your prescriptions be covered?
If you are currently taking prescription medication, you’ll want to be sure that any family healthcare plan you consider will cover your prescriptions. All health insurance providers include a list of covered medications in their policy documents.
Take time to comb through this and make sure that your medication is covered and that the co-pay is affordable.
Is the deductible high or low?
High deductibles tend to work better for individuals than families and, even then, are better suited to the young and healthy. Since family healthcare plans include multiple people, the odds of someone needing to go to the hospital or see a doctor are considerably higher.
If these visits happen frequently or more than one person in your family gets sick or injured in the same year, costs can run high very quickly.
Since the deductible is the amount you have to pay out of pocket before your insurance kicks in, you need to know how much you can afford to pay on your own.
Though they will cost more overall, a lower deductible plan is often a good idea for a family healthcare plan.
Don’t just compare premiums
Everything from prescription drug coverage to the size of your insurer’s network affects the quality of coverage you’re paying for.
Don’t just look at the cost of your monthly premium, consider the benefits and shortcomings of different health insurance plans to determine what works best for you and your family.