December 11, 2023

Getting The Right Family Health Insurance

  • September 4, 2020
  • 6 min read
Getting The Right Family Health Insurance

What comes to your mind when someone mentions the word family? To most people, all they can think about are the good times and support that comes from the family. However, there are challenges if you are an adult and have several people under your watch. They expect you to provide for them and offer the best utilities that the world can offer.

Diseases and accidents are one of the areas that drain families to the last coin. The cost of treating various ailments is a challenge to the average families. The good news is that you do not have to be extra-wealthy to afford good family health care as long as you have a health insurance cover for your family. Let us explore some of the tips to get the best insurance coverage for your family

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Analyze your needs

Knowing where you stand and what you need makes it easy to get a Quick Health Insurance Quote. As you can probably imagine, an insurance quote may vary depending on your needs and circumstances. Some families are big, while others are small. Some families will have to deal with maternity charges, while others do not want to bear children. Consider if you have any genetic disorders in your family before you take that cover. The lifestyle that your family leads is also likely to influence the choice of insurance cover to take. The insurance companies set up such policies with the different family setups in their minds.

Look for covers you can afford

The monthly premiums restrict many people from getting insurance covers for their families. Some companies will even demand an upfront payment to cover several months before you can start remitting monthly packages. You will be shocked to note that many companies offer packages that you can afford. The ideal cover is one that will not overburden you in the long run. Evaluate your cash flow and take a policy that suits your needs.

Understand what different policies cover

All covers are no created the same. There are different types of medical charges, such as consultation fees, first aid, diagnosis, ambulance charges, hospitalization, bed charges, theater charges, prenatal clinic charges, maternity charges, and medication, to mention a few. The medical cover that you take should indicate what it will cover. Some will cover both outpatient and inpatient fees. Others will cover only outpatient charges. The ideal policy is one that caters to the needs of every family member. Go through the terms and conditions of the policy to understand what is on offer.

Check the limitations

What terms should you meet to make the cover valid? You may have heard people claim that insurance companies are always looking for a slight mistake to deny people their claims. You must check the probation period before you can use this cover. The waiting period will vary from one company to the other, and it can be a week or even months. Different covers can also have different waiting times. Treatments for some conditions such as varicose veins and preexisting health conditions may have a longer wait time, which can be even two years.

Check the network

Insurance companies partner with a network of hospitals, consultants, and other players in the health industry. Ensure that you pick an insurance company that partners with hospitals that you can easily access. The choice of the insurance company and its partners will determine if you choose the right treatment center or not. Check the reputation of the health service providers on the list in regards to how they handle customers, their treatment process, and their support services. The specialty of the hospitals under the belt is also another important consideration. For instance, it is advisable to have a pediatrician in that network if you have kids.

The amount you can claim

Every family health insurance cover has some limits. For instance, you may find a case where the insurance company pays 90% of the total fee, and you settle the rest. It thus means that the insurance company will cover $90, and you settle the remainder ($10) when the medical fees are $100. There are also limits on the amount you can claim in a certain period; let us say one year. Be on the lookout for some of the ‘free’ products that may be included on the policy as they are not free in the actual sense.

The flexibility of the cover

The family composition can change at any time. A child can be born into your family after you have taken the cover, which is always a blessing. You can also lose one of your family members. The health conditions of your family members can change, as well. The ideal policy is one that allows you to account for these changes. For instance, it does not make sense to pay for a policy that covers five members of your family after two of your loved ones pass on.  Let the company highlight the terms that you have to meet to incorporate such changes.

Check if the provider offers lifetime renewability

Most people tend to contract more diseases as they get old. What if a company decides not to renew your cover once you or any of your family members hit fifty years of age? It simply means that such a company is avoiding the high risk of claims as you progress in age. Some companies will demand that you get another cover once you hit a certain age, which usually has more expensive premiums.

Look for discounts and bonuses

Taking an insurance cover does mean that you will fall sick. You may pay for even five years and fail to use that cover. Some insurance companies offer discounts and bonuses after a financial year ends without filing a claim. Such bonuses are also an incentive for you to lead a healthy lifestyle.

Following the above tips makes it easy to get a health insurance policy that fits your family needs. Shop around and compare what different companies have to offer to settle on the best.

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1 Comment

  • Really nice article about Health Insurance. Insurance is immediate need which most of the people don’t take seriously. There is more consciousness required in the society.

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