subject: The Best Health Insurance Options For Your Family [print this page] A wide range of medical health insurance plans is available from which to choose the best options for your family. However, deciding on the best insurance plans for your family will depend on a number of factors. These include the health of your family members, your employment situation, your current phase in life and the types of medical health insurance choices that are available to you.
There are three main medical care insurance options for your family, all of which have advantages and disadvantages. These are:
Employer Provided Insurance
This is the most popular choice that involves an employer sponsored group health program, which offers a variety of plans. The employee may perhaps select from a number of rate or premium combinations, including employee and spouse, employee and children or employee and family.
Some of the benefits of this plan include payment in part or full by the employer and enrollment is convenient, simple, easy and guaranteed for employees and their dependents. Some shortcomings involve losing insurance benefits if you leave the job or are terminated, restricted choices based on what your employer provides and lack of control over plan changes.
Private Individual Health Plans
Another popular option for families is offered by insurance companies on a state basis. The primary insured or subscriber selects a plan from the many rate combinations that are offered. With the private individual plans, you have a wider range of choices to meet your needs and greater control in selecting health options that work best for your family. The insurance is permanent and can only be cancelled under certain conditions and you may perhaps have separate policies for family members. However, some disadvantages of the plan include strict eligibility requirements; some family members may not be approved; drawn-out enrollment process; coverage isn't guaranteed in all states and lack of portability to another state.
State Funded Family Medical health insurance
Two programs that provide state sponsored health insurance coverage are Medicaid and the State Childrens Medical health insurance Program (SCHIP). To qualify, there are strict income requirements and only specific groups of people, including children, the disabled and pregnant women might be eligible for the insurance. However, not all states may perhaps participate in this insurance plan. If family members are high risk, they might apply for state high-risk pool coverage, which are not subsidized and are usually expensive.
Getting the best medical insurance options for your family requires a health needs assessment and exploring the many choices to help guide your decision.
by: Ethan Kalvin
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