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Friday August 18, 2017
Family Health Insurance
Family Health Insurance

Children are expensive to raise and accidents happen. Thus, family health insurance is critical. Even before the child is born, it is important for women to have proper prenatal care. Without health insurance, and without the ability to pay for medical services, studies have clearly shown that newborns are more susceptible to problems, as medical treatment was not readily available throughout the pregnancy. Further, many problems are left undiagnosed which could have been treated had the necessary resources been available to the mother.



Once the child is born, there are many stages in his/her life which will require doctor's visits, dental inspections, medications such as antibiotics, vaccinations and other possible necessities such as glasses or braces. And since children are prone to accidents through rough play, adventurous activity, and sports participation, it remains that having family health insurance will reduce the financial burden when an event occurs.

Family health insurance plans tend to be more advantageous when there are several people in a family. For example, if there is only a husband, wife and one child, then the deductible may seem quite high. But for people with several children, the deductible may seem low, as the more people using the policy, the sooner the deductible will be paid, making it cheaper for the rest of the year or the remainder of the services. If each member had his/her own insurance, the deductibles would become huge liabilities, as there would be too many to pay.

Likewise, should a family opt for Fee-For-Service insurance, the plan may become rather expensive over time. In fact, this is considered the worst type of insurance for a family. Since children require preventative care, it means they may require many services which can turn a family's financial situation upside down.

And while family health insurance is a necessity, the insurance company may impose restrictions on the policy in order to limit its risk. Some examples are:

  • requiring the insured to meet the deductible within a specific time frame or risk having to start over,
  • capping the total allowable dollar amount,
  • a predetermined time which an insured may stay in the hospital for any specified treatment,
  • and capping the amount that will be paid for a specified treatment.

Contrarily, some programs allow the insured to choose a different health care provider for different members of the family. And in some instances depending on the plan, insured persons can choose specialists from a preferred list without having to be referred by the general practitioner or family doctor.

When choosing the right family health insurance plan, taking the time to review and compare benefits and associated costs should not be a quick or light decision. Many questions should be answered first in an attempt to ascertain the best possible policy. Issues that will be important are pre-existing conditions and how they affect the premium and other members on the policy, types of medications already in use by family members, whether the policy will be used predominantly for preventative care or whether someone in the family suffers from a serious, chronic illness, how often the family members visit the doctor's office, and do members already see specialists. All of these factors will impact both the level of health care as well as the monthly premium.

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