| A family health insurance policy is a
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| | the care will cost less out-of-pocket for
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| legal, binding contract between the
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| | the consumer. The paperwork is generally
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| insurance company and the customer, in
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| | taken care of by the health care provider
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| this instance a family, whereby the
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| | instead of the policy holder, and the
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| insurer pays the medical costs of the
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| | care is covered with only a small
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| family member if he or she becomes sick
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| | coinsurance or co-payment required from
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| due to covered causes, or due to
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| | the policy holder.
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| accidents. This type of insurance is
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| | There are three types of managed-care
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| generally purchased year by year with
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| | plans: health maintenance organizations
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| generally no assurance that the policy
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| | (HMO), preferred provider organizations
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| can be renewed, and if renewable, no
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| | (PPO), and point of service (POS) plans.
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| guarantee that premium rates will not
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| | These options are all based on provider
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| increase.
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| | networks and require their policy holders
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| Deciding which plan is just right for you
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| | to pay for their health care depending on
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| and your family can seem as challenging
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| | their tendency to seek care from
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| as judging which new car is the very best
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| | in-network or out-of-network providers.
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| out of an entire parking lot at the car
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| | Managed care plans were first initiated
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| dealership. The cars are all different
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| | during the mid 1980's as a means of cost
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| sizes, styles and colors, and the health
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| | savings. As late as 1990 the vast
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| insurance plans all offer different fees,
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| | majority of family health insurance was
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| types of benefits, and levels of
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| | in the form of a conventional plan. By
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| coverage.
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| | the year 2001, conventional plans had
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| For many people, the group health
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| | shrunk to merely 7% of the family health
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| insurance plan sponsored by their
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| | insurance in force, with the other 93%
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| employer offers them the most affordable
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| | some form of managed-care.
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| coverage. This insurance is exactly what
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| | In each of the three categories, there
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| it sounds like: a health insurance plan
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| | are dozens of available plans offering
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| or plans offered to groups of people
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| | different levels and types of coverage
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| through their employers. Family plans, on
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| | that allow users to choose based on
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| the other hand, covers families instead
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| | personal needs. In general the higher the
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| of employer groups, and it can be a much
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| | deductible, the lower the monthly
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| more attractive and affordable option
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| | premium. This along with many other
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| than many people assume.
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| | factors affects how much the plan will
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| Because family health insurance is not
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| | cost the consumer to use. Therefore, a
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| offered through an employer, those who
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| | family who expects to seek health care
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| choose this type of insurance will pay
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| | only a few times per year will benefit by
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| the entire cost of the regular premiums.
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| | choosing a plan with a lower monthly
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| In some situations, the purchaser may
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| | premium.
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| even be able to save money compared to
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| | These are not the only factors that
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| what he would have spent in premiums for
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| | should be considered when choosing an
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| an employer's group plan. Either way,
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| | insurance plan. Someone who travels often
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| consumers should realize that the money
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| | may want to consider the possibility of
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| they're spending each month for insurance
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| | needing to seek care while far from home
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| premiums is 100% tax-deductible.
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| | and the advantages of an indemnity or a
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| There are two basic types of family
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| | more flexible managed-care plan, so that
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| health insurance plans: indemnity and
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| | unexpected out-of-network expenses can be
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| managed-care. An indemnity plan gives its
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| | covered. Women who expect to become
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| policy holders the most freedom to choose
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| | pregnant during their plan year must
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| the source of their health care, allowing
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| | carefully study the coverage offered to
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| them to receive treatment wherever and
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| | them. Pregnancy and delivery costs can be
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| from whomever they choose. Many indemnity
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| | substantial. No plan is right for
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| plans also require higher deductibles
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| | everyone; that's one reason there are so
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| that must be met before the plan coverage
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| | many from which to choose.
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| will begin, and they also pay claims
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| | There is no way to make a wise choice
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| based on a percentage of the cost for the
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| | without a thorough study of the health
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| care. Managed-care plans, on the other
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| | insurance plans available. The needs of
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| hand, are usually based on a network of
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| | every person in the family who will be
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| approved health care providers from whom
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| | covered by the plan should be taken into
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| their policy holders can receive
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| | account. With careful consideration and
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| treatment. Because this network of
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| | planning, those needs can all be met at a
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| providers has, in most cases, agreed to
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| | reasonable cost through family health
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| provide the treatment at a pre-set price,
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| | insurance.
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