When seeking family insurance prepare yourself by looking at your family and assessing their health care needs. Ask questions related to their needs and seek the answers in the different family medical insurance options.
For example, here are five questions to get you started:
Following are the three major types of family medical insurance to select from:
Fee for Service or Major Medical Plans- These are the most traditional type of plans. You pay a monthly premium and your insurance will pay part of the cost of any treatment you receive.
A facet of this plan that people like is that you can select any doctor you want and go to any hospital in the country. You’re not restricted in any way.
Health Maintenance Organizations (HMO)- This plan provides comprehensive health care with a focus on preventive health in exchange for your monthly premium. That means that routine physicals and mammograms are usually 100% covered after a co-pay. A co-pay is a small charge you pay when you get to the doctor’s office. For example, you might pay a $25 copayment for a doctor’s visit.
However, you will have to use the HMO members as your physicians. In fact, you’ll have to choose a primary care physician. You’ll see him or her first for any kind of treatment.
They will refer you to other doctors if necessary.
Preferred Service Provider (PPO)- This plan isn’t as restrictive with outside doctors as an HMO. With a PPO, you’ll get two coverage levels—an in-network and an out-of-network level.
You’ll pay less if you choose an in-network doctor or hospital. However, if you decide to go out-of-network, you’ll still have coverage.
POS (Point of Service) Plan- These are similar to an HMO in that you’ll have to select a primary care physician. If you need to see a specialist, it’s easier to get an out of network referral from a POS.
Factors that Affect Family Medical Insurance Premiums
You’ll want to make sure you really understand the following features before you choose a family medical plan:
Also, carefully check what medical procedures are covered and not covered so you make the right family insurance decision for your family.