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Health Insurance Plans for Families

Private Family Health Insurance

For people who have a family we know just how important it is to make sure that you and your family have health insurance and are protected. Additionally we know that many people do not qualify for COBRA or simply can't afford the high costs. Fortunately if you are in this situation, you do not have to settle for an insurance plan that barely covers anything. Instead you can go with a private family plan (also sometimes called an individual plan) that can provide similar coverage to an employer plan, at a fraction of the cost.

These plans can provide a much more affordable option for families as the chart below shows and popular to what many think can provide almost identical coverage. In fact, the average healthy family saves over $7,000 a year when they go with a private plan.

Tips for Choosing a Private Family Health Plan

When you first start your health insurance search it can easily seem overwhelming due to the abundance of new terms and seemingly complicated coverage options. However if you know what to look for, your search can be much easier. Before starting your search, make sure you have determined an estimate of your budget and done an inventory of your health needs.

  1. Medical Needs Inventory: The first thing to do is make an inventory of your current medical needs and likely needs in the near future. The easiest way to do this is to think about how you used your health insurance plan in the past. Are you someone who goes to the doctor monthly? Yearly? Or perhaps you have been in years? Do you have lots of prescriptions? Additionally think about any plans you may have in the hear future. For example if you plan on starting a family or having a child, you will need to make sure that your plan includes maternity coverage.
  2. Copayments and Deductibles: The next thing to consider is copays and deductibles. Copays are what you pay out of pocket anytime you visit the doctor, emergency room, or fill a prescription. Deductibles are the amount you have to spend before the insurance starts to cover care. Many times you can get a cheaper monthly premium if your copayments and deductibles are a little higher. For people who rarely use their plan, this is an easy way to save money. However if you use your plan frequently, then you may want something with a lower deductible and lower copays.
  3. Co-Insurance and Annual Limits: Both of these things are extremely important to pay attention to. First, coinsurance is when you share the cost of medical care with the insurance company. For example, if you have 40% co-insurance, you pay 40% of the medical care costs. Sometimes there is a limit on this and sometimes there isn't. Co-insurance can quickly get very expensive, especially if a major illness or emergency strikes. Annual limits are caps on the amount of money the insurance company will spend yearly. Again, in the case of serious medical needs that may arise, people can quickly go over their cap.
  4. Look At Many Plans: Lastly it is wise when making any insurance search to consider many plans. The easiest way to do that is to get a free quote using the box below which will show you a wide variety of plans at a variety of price levels. Compare these plans with your budget and needs and you can find a plan for you.
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