Family Health Insurance

We spend about three times as much per person on health insurance than any other country. To put that in a global perspective, only Japan, Germany, China, United Kingdom, and France generate more money domestically than the US spends on health care alone. Moreover, the average cost of family health insurance for four is more than the yearly salary for a minimum-wage worker. I know all of this isn’t an answer; I’m just underscoring the crisis here in the US. 

It depends on what you mean by affordable. That is, affordable could mean low monthly payments. However, if it doesn’t provide the financial protection you need or the access to the kind of care you want, having the insurance really won’t justify the lower payments. The first step in finding affordable health insurance is finding out exactly what you want from a health plan. 

Basically, health plans differ in three basic ways: 

1.monthly price/annual deductible 

2.access to health care (the degree to which you can visit whom you like and undergo medical treatment a specialist thinks you need) 

3.financial strength of the insurance company 

Also, the price of a plan is not simply the premium you pay each month. You also have to consider the annual deductible, as well as any coinsurance amounts or copayments. Additionally, the savings you can achieve through an HMO, PPO, or other managed care plan can be erased if you have to go outside the network for expensive medical care. 

Many families are choosing HMOs – health maintenance organizations. They have relatively low monthly premiums and include preventive care and regular doctor visits in their plans. However, some people like the freedom of going wherever they want to go for health care, and HMOs offer full coverage only if you visit one of their participating doctors or hospitals. Some states, such as New York and Florida, put out a HMO report card each year. I’ve included a link below to state insurance departments where you can do a little research if you like; the state also keeps records of customer complaints so you can get a better idea of how happy people are with a health plan you are considering. 

The best resource for health insurance information, though, is a health insurance agent. I’d get in touch with more than one if I were you because they can offer you a wide range of insurance products. MostChoice.com is a great way to get in touch with state-licensed insurance agents. You just fill out an information request form and within two days agents will contact you to talk about family health insurance. There’s no cost or obligation, and you can also view instant free quotes on health plans available near you. All you have to do is have your questions ready and tell the agents how much you want to pay and what kind of coverage you expect to get in return.