Family Health Insurance Plans
Recent events have shown families how important it is to have a health insurance plan in place. The onset of the COVID-19 pandemic has made many people aware of how quickly things can change. Health insurance is something that every family should have in place for their well-being.
Family Health Insurance Plans
Not all family health insurance plans are alike. There are four levels of insurance that are available. Selecting the right type of plan can make insurance more affordable and give your family the protection that it needs.
Most states classify their family medical insurance plans as follows:
Bronze Coverage – This type of coverage offers lower monthly premiums but has a higher deductible. Coverage may not be as large as other plans. Copayments can be as high as 60 percent for some services.
Silver Coverage – This is an upgrade from the Bronze plans. More doctors and services are available. Copayments are a little lower. You may still have a higher deductible than other plans.
Gold Coverage – Gold coverage plans are more expensive for your monthly premiums. However, your deductible will be considerably lower than Bronze or Silver plans, and your copayments will also be lower. These plans generally have larger networks of providers and may even provide some coverage for out-of-network services.
Platinum Coverage – This is the most expensive insurance plan that you can purchase. These plans have low deductibles and low copayments. You have a broad range of providers available, and you can even get lower copayments on out-of-network services.
Many of these plans will also allow you to add services to their coverage. For an additional premium, you may be able to add dental and eye care coverage.
The average cost for family health insurance will vary by state and by the provider. It will be very helpful to sit down and compare the providers and their plans before deciding on which one to use. It is also important to carefully look at what the plan covers and what your expected copayments could be for services.
Qualify for discounts on your payments through the health insurance marketplace. The Marketplace offers individuals a chance to purchase health insurance plans at a discounted price.
Discounts offered through the Marketplace are based on household income and if any other insurance plans are available to you through an employer. Depending on your state or the plan you chose, you will either qualify for discounted monthly premiums or a tax credit at the end of the year.
Understanding the 2020 Health Insurance Marketplace
The healthcare marketplace was created as a result of the Affordable Care Act. This law was passed by Congress in 2010. This Act was designed to make health insurance more accessible to everyone.
Part of the law was to establish rules for coverage. All health insurance plans, regardless of which state they are located in or which provider is offering the plan, must comply with the following:
- Insurance plans must include certain types of preventative care at no additional cost to the policyholder. In most cases, this includes physicals and certain cancer screenings.
- Insurance companies cannot deny coverage to a person based on preexisting conditions, current medical needs, age, or gender.
- All health insurance policies must provide coverage for mental health care and addiction treatment.
- Plans can no longer have gaps in coverage or yearly or lifetime limits for care. Plans cannot limit the amount of treatment for any condition.
Additional portions of the Affordable Care Act set up subsidy programs for those with financial needs and expanded the Medicaid program for low-income earners so that they can receive coverage through this government insurance plan.
2020 Changes To Health Insurance Plans
Every year you will notice that there are adjustments to your personal health care coverage as well as the plans that may be available in your area. This is the nature of the industry. Health insurance providers continually make changes to their plans as a way to streamline and improve their services.
Laws governing health insurance plans may also change during the year. State and federal laws can change your current or future health care program. It is important to check on any updates you may have received from your health insurance provider to see if there will be any changes to your plan. If you are looking for new coverage, make sure that you review information specifically for the new year so that you do not purchase a policy based on old information.
Take the Time To Compare All Family Health Insurance Plans Side by Side
Although laws governing health insurance plans often focus on what the insurers cannot do, such as a charge for certain preventative treatments, deny coverage based on preexisting conditions, or have lifetime limits for treatment, they do not regulate what services are offered and by what providers.
Each plan will have different services available at a different cost. You will want to evaluate each family plan by looking at the following items:
- Cost of copays for regular office visits
- Cost of copays to specialists
- Will you need a referral to see a specialist?
- Who is included in their network of providers?
- Is testing and imaging covered?
- Are there large copays on emergency room visits?
- Are you required to go to a walk-in clinic before you go to the hospital?
- Is your preferred hospital or care provider part of the system?
- How does the insurer handle out-of-network services?
- Monthly premiums for the insurance
- Will you qualify for subsidies?
Different health insurance providers will have different amenities, as well. Some insurance providers will include a gym membership with their insurance plan, or give you a discount on your premiums if you submit proof of your current gym membership.
Some providers have wellness programs that are offered for free that, by joining, can reduce your insurance rates. Insurance companies may also offer you discounts on services that can help improve your health outside of the medical industry.
Take the time to look at all of the benefits offered by each plan and so that when you select an insurance provider, you will get the most benefits from your plan at the best value.
Family Healthcare Plans Offer More Than Protection From Accidents
Many people believe that having health insurance for families is just to protect the family from unexpected events. While this is one of the benefits, it is not the only one. Having a family plan in place also protects your family from illnesses and makes sure that you remain healthy.
Yearly medical exams, which are covered under all health insurance plans, are a great way for you to monitor your health. If you have children, yearly physicals ensure that they are healthy and address different health concerns as they grow. Health insurance also keeps the parents healthy so that they can continue to care for their children and enjoy life.
Of course, health insurance also gives you protection when the unexpected happens. The fall from a bike that breaks an arm, the trip, and fall that needs stitches, treatment for strep throat that is circulating around the school, and, more recently, health care during a pandemic event. All of these events are unexpected, but your family will get the care they need because you have insurance in place to protect them.
Enrollment for Health Insurance For Families
The 2020 enrollment period is quickly approaching. This year you can sign up for new health insurance plans on the Marketplace between November 1st and December 18th. During this period, you can renew your plan, change your plan, or acquire brand new insurance for the first time.
If you are overwhelmed by the health marketplace, don’t feel bad. Most people feel that way. If you have questions or concerns, call the official 2020 health enrollment center to have all of your questions answered.
The Health Enrollment Center has a knowledgeable staff that can help you select the right health plan for your family. They will answer all of your questions and give you the information necessary to make the right choice for you and your loved ones.
Health Insurance Is No Longer An Option
Although the mandates for health insurance coverage have been lifted everywhere except California, the need for quality health insurance remains. Health care can be very expensive, especially in an emergency situation, and without coverage, you may find yourself going into significant debt.
A broken leg can cost almost $10,000 to set and manage by the time the cast is removed, and emergency surgery for appendicitis can exceed $40,000 depending on severity and hospital used. Without the coverage in place, you could find yourself in a financial mess without health insurance coverage.
The recent pandemic has also shown that health care coverage is necessary, even for those who consider themselves ultra-healthy. Although we can only hope that another pandemic does not occur, you never know what kind of event can happen that will make medical care necessary. Having a policy in place will always help you protect yourself and your loved ones.
Don’t let the Marketplace overwhelm you when you are researching policies. Take the time to compare what they offer and their overall expenses. Make sure that you look to see if your preferred providers are included in the plan. Then make your decision.
If you still have questions, which most people do, take a minute and contact the 2020 Health Enrollment Center. All of your questions will be answered, and you will have the opportunity to go over all available plans that you think will be the right choice for you and your family.