by James Tuck

Family Health Insurance: Affordable Options for Consumers

Maintaining comprehensive family health insurance is one of the most important ways consumers can protect their financial situation and their families. In recent years, however, finding affordable family health insurance has become more and more challenging due to increasing health care and prescription drug costs and higher premiums charged by most insurance companies. Especially in these difficult economic times, many families can be caught between declining earnings and steadily increasing medical expenses, so finding affordable family health insurance is more important now than ever before.

Low Cost Family Health Insurance

Consumers can sometimes obtain a lower health insurance rate through their employer. Some organizations offer a family health insurance plan to their members at group rates that can significantly reduce the cost of premiums as well. Consumers should be aware, however, that family health insurance plans vary widely in allowable benefits, deductibles and required copayments and may not cover pre-existing conditions. Families can sometimes save on health insurance by accepting higher deductibles and copayments while maintaining the same level of coverage.

What to Look For

Consumers should insure through a company they know and trust. While not all health care professionals work with all insurance companies, it’s usually a good idea to check on how many providers are available in-network for the insurance plans under consideration. This can provide a general idea of the size of the company and the reliability of their services. Additionally, consumers should be aware that a number of advertised family health insurance plans are actually discount plans rather than true insurance. These plans provide discounted rates on services and sometimes prescriptions from participating doctors, clinics and pharmacies, but offer no protection against catastrophic medical expenses or prolonged illnesses.

By researching and comparing family health insurance options, consumers can get the best terms and most comprehensive coverage for their family at a price they can afford.

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