Family Health InsuranceFamily health insurance is offered in many forms. No matter which one you choose, the basic idea is the same: you buy health insurance to protect your family against unforeseen events. Dealing with the medical issues surrounding a serious illness or injury occurs is stressful enough without worrying about how you are going to pay for the expenses that go along with it.
Family Health Insurance: Types of Coverage AvailableChoose from the following types of health insurance for your family:
Health Maintenance OrganizationA health maintenance organization (HMO) offers care to its subscribers through a network of healthcare providers that it has entered into contracts with. In return for access to a pool of potential patients, the doctors and other medical professionals agree to charge lower fees for their services than they normally would. As a result, HMO subscribers pay lower premiums than those who choose other forms of family health insurance.
Indemnity PlanIf you choose an indemnity plan for your insurance coverage, you will be reimbursed for your covered healthcare expenses, no matter which healthcare provider you choose to visit. (With an HMO, seeing a doctor who is not part of the provider network will mean that you will be forced to pay additional fees.) The policy language will determine the amount you will receive under the plan.
Preferred Provider Organization PlanA Preferred Provider Organization Plan (PPO) is similar to an HMO, since both of them have a network of providers. With a PPO, you don't have to declare a primary care physician or get a referral if you want to see a specialist.
Point of Service PlanA Point of Service (POS) Plan will give you the most freedom in choosing a healthcare provider. You can see a doctor who is part of the network of providers or visit one who is outside of the network. The Plan will pay a higher level of benefits for visits to doctors within the Plan network.
Family Health Insurance: Compare FeaturesYou will want to compare the features and level of benefits offered by each of these options before you apply for coverage from an insurer. Each option has its advantages and drawbacks, and no one plan is right for every family. Would you like to learn more about family health insurance? The free insurance tool at the top of this page is here to help you. Click on it to get started right now. |
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