Affordable Family Health Insurance

Many people today may feel that affordable family health insurance is a simply a myth. But the truth is it is very possible to find family health insurance at a reasonable price. However, it does take thorough research.

This Health Insurance Guide is designed to help you find an ideal health insurance policy suited for your family at a price that fits your budget. This guide will help you understand exactly what health insurance is, why people buy it, what you are covered for, how to ensure you have the right insurance for your needs as well as your budget, how to reduce your costs, and questions to ask your insurer.

Defining health insurance

First things first: Defining family health insurance and understanding why people purchase it can help you decide how to move forward with purchasing an affordable plan adapted just for your family. Quite simply, health insurance is coverage of medical treatment services for health conditions that arise after your policy begins. Depending on the plan you choose, this can mean everything from general physicians' visits to major medical bills. Health insurance allows you immediate access to medical treatment, eliminating the need to go on an NHS waiting list. Insured people pay a monthly (or otherwise agreed upon) premium in exchange for a specific cover defined in their health insurance plan.

Why people buy health insurance

Like every other form of insurance, people purchase it as a form of financial protection in the event that they are injured or become ill. It also offers reassurance that the insured party will have access to the medical treatment needed if and when the occasion arises; it gives the user the choice of when and where treatment is issued, as well as the specialist of their choice; and it even ensures the insured party options such as a private-room hospital stay and other amenities not offered at NHS hospitals.

What insurance covers… and what it doesn't

When considering health insurance for your entire family, you'll need to first determine the needs of each member of your family that you'd like the insurance plan to cover. Keep in mind that insurance companies will rarely cover pre-existing conditions. It is also important to take into consideration the unknowns or "what ifs". For example, what if your child comes down with a serious illness or has a serious accident? Your insurance plan should suitably cover any unforeseen incidents. If you select a plan that does not cover hospital stays or has heavy restrictions on hospital treatments, you could end up stuck with some major medical bills.

Once you've got your family covered for the (hopefully unlikely) larger medical incidentals, then you can move on to more commonly required services. It is important in this step to determine what you would like covered and how the plan rate goes up or down based on those variables. In general, health insurance should likely cover treatment for acute medical conditions, in-patient testing, surgery, hospital stays, theatre time and nursing, and medical consultations. Some plans may even cover outpatient testing and consultations, overseas cover, and cash payment for treatment received as an NHS in-patient.

There is also a laundry list of conditions and treatments that your health insurance will likely not cover such as pre-existing conditions, general practitioner or Accident or Emergency visits, outpatients drugs and dressings, drug abuse, HIV/AIDS, normal pregnancy, sex change surgery, organ transplant, cosmetic treatment. Note that there are many other health services that family health insurance may not cover, so be sure you know exactly what the plan does and does not cover before you purchase it.

How to find affordable health insurance to suit your family's needs

When searching for budget friendly family insurance, you can turn to the Internet for research purposes, but be very wary of possible Internet scams. To find a reputable online service, check with friends or family to see what affordable family health insurance they recommend. It's also a good idea to check with your automobile or home insurance providers to see if either offers family health insurance policies, and if so, find out if they can offer a discount to "bundle" your services with that particular company.

To make sure you are getting the best health insurance plan for both your family and your pocketbook, compare costs of various plans and talk to an insurance agent about a plan that covers your family for its needs but eliminates any extraneous cover that you simply don't need.

How to cut costs

Once you have decided on a plan, do your due diligence to ensure accuracy. Review all your medical bills to make sure that you were charged correctly. Another simple way to cut your medical costs is to live a healthy lifestyle! By eliminating bad habits (i.e. smoking, heavy drinking, etc.) and exercising, you can contribute to a leaner waistline and a lower bottom line.

Questions to ask an insurance agent

Finally, don't be afraid to consult an expert. Your health insurance agent is there for you, so be sure to ask questions to make sure you are on the right track to finding the most affordable health insurance plan that best meets your family's specific needs. A few general questions are listed below; however, if you have additional questions, speak up. You should be perfectly clear on what you are covered for before you buy.

• What are my plans out of pocket expenses per month/year?
• What is the plans maximum benefit? Does this include a cap?
• What co-pays am I responsible for with this plan? Do I have a limited number that are covered?
• Does the plan have a deductible for hospital stays or emergency room visits?