Family Health Insurance – When you’re trying to decide which family health insurance plan is right for you and your loved ones, it’s important to pay attention to the big things like how much your monthly premium is going to be. However, it’s just as important to think about the smaller details that might affect your family in the coming year, from potentially missed savings to changing circumstances that might require more coverage.
Even if you’re happy with your current family health insurance coverage, there’s always a chance you could be even happier with another plan that wasn’t available last time you looked. Just like with every other product, shopping around for family health insurance can often either reduce your annual costs or give you a better plan for the same amount of money.
Get the right family health insurance now
Though having a baby is enough to qualify for a special enrollment period, getting pregnant does not. If you and your spouse are thinking about either starting a family, make sure to get a family health insurance plan as soon as the next official enrollment period comes around. If you already have a family health insurance plan, make sure its pregnancy coverage includes the obstetricians and hospitals you plan on using. For many family health insurance plans, information about your specific childbirth coverage can be found on page 7 of your Summary of Benefits and Coverage document.
Know both your individual and family deductibles
A deductible is the amount of money a person has to pay for their healthcare before the insurance company will start paying their portion of future costs. Just hitting your individual deductible may not be enough, however, since most family health insurance plans have both an individual and family deductible that has to be met. Meeting the individual premium will make sure the insurance plan kicks in for you, but you have to hit the family health insurance deductible to make sure everyone gets coverage.
Check your prescription coverage
Though most family health insurance plans have some form of prescription drug coverage, the number of drugs covered varies wildly from plan to plan. When researching plans, it’s important to check for both current prescriptions and ones likely to crop up within the coming year. Your daughter might not have an ear infection at the moment, for example, but if she tends to get those regularly, you want to make sure you have access to the drug she’s most likely to need. To make sure that your family health insurance plan has the drugs you need, check their formulary to find out exactly what they do and don’t cover.
You can always check with your existing agent. Just letting him know that you are looking around often motivates them to sharpen their pencil. They need to know that you are willing to switch plans or agents if you are not getting the best price, and coverage for your family.
And always check with Miller Insurance Management corporation first, and last.