Affordable Health Insurance
Affordable Health Insurance
Many Americans receive coverage for themselves and for their dependent family members through employer-sponsored group coverage. However, others may need to find a family health insurance plan through the private market, which is explained here.
As the name suggests, family health insurance is best for individuals who need coverage for both themselves and their families.
A comprehensive family health insurance plan can actually cost less than insuring each member of your family separately. You could also look into applying for a high deductible health plan (HDHP) and opening a health savings account (HSA). The variety of preventive care options provided by HDHPs (i.e. doctor’s visits, physical exams, immunizations, well-baby visits), are especially useful for families. These benefits can be taken advantage of without having to meet the first deductible. Also, note that family health insurance plans usually have a higher coverage cap or lower combined deductible than that of an individual insurance plan, making them more affordable health insurance options.
Premiums for family health insurance vary from state to state and by the age of the purchaser. Older purchasers typically pay more than younger ones, and coverage may cost more in some areas of the country than others. If a member of your family has a preexisting condition, it could result in denial of coverage or a more expensive rate for your whole family. In this case, you should consider buying separate coverage for members of your family.
One of our licensed agents can guide you through the whole process of applying for health insurance—from completing your application to receiving your family health insurance coverage document. To begin, you just enter some basic information about your family on GetInsured.com to view instant side-by-side comparisons of available plans, at no cost to you! When buying family health insurance, try to keep in mind that a typical plan offers fairly high deductibles (over $7,500) so, supplementing your family coverage with an Accident Medical Plan and a Critical Illness Plan could be a great option. These plans have very low deductibles in the $100-200 range and coverage to $10,000—which may be enough to cover the family deductible in case of an accident or a major illness.
As of September 2010, the following changes will be implemented:
• New insurance plans must cover specific preventive services, without cost sharing.
• New individual plans can’t deny or exclude coverage to children younger than 19 based on health issues. This includes babies born with health problems.
• If a new plan won’t pay for services you thought were going to be covered, you have clear, step-by-step appeals process to challenge the decision.
• Young adults below age 26 can be insured under a parent’s insurance if the policy allows for dependent coverage. The exception is if the parent has an existing job-based plan, and the young adult children can get their own job-based coverage.
Every state runs a Medicaid program that provides health coverage for lower income families and children, although the eligibility rules vary by state. Medicaid and the Children’s Health Insurance Program (CHIP) cover children in all states. Moreover, your children could very well be eligible for coverage if your income is up to $45,000 per year (for a family of four).
Beginning in 2014, individual carriers cannot deny or exclude coverage for a child with a preexisting condition, or disability.