Tips for Choosing a Family Insurance Plan

Choosing a family insurance policy is a crucial part of any long- term family plan. That being said, browsing through the myriad of policies being offered by various insurance companies can be a hugely daunting task Unfortunately, there is no one-stop solution for selecting an ideal health insurance plan Every plan will have its own pros and cons. What is important is that every member of your family is adequately covered against common medical expenses Introduction

Contd… To this end, most people do considerable research before even approaching an insurance agent. This is because knowledge is essential; knowing the different options available to you, as well as what those options offers and whether you can afford them, can be the deciding factor in choosing the perfect plan To make this tedious process easier, we have listed some important points to keep in mind while choosing a health insurance plan for your family

1) Check and Analyse Plans Provided by your Employer More often than not, the health insurance plan provided by your employer will most likely be the most viable and affordable option. Some companies also provide a choice of different plans to choose fromhealth insurance plan

2) List Down the Top Differences Compare the benefits and coverage of factors such as monthly premium, deductibles, co-payments, co-insurance rates, costs for seeing out-of-network providers, preventive care, physical exams, vaccinations, etc.

3) Check for Special Needs Certain families may require special services that are not provided by standard plans. For example, if you know that you and your partner are having trouble conceiving a child, you should opt for a plan that covers fertility services. If you are raising a special child, ensure that your plan has mental health coverage, nursing care, etc.

4) Keep Asking Questions Do you need referrals for specialist visits? Are there any cashless hospitals that will provide treatment? What pre-existing medical conditions do you need to disclose? How bad is the paperwork to get emergency room treatment approved? At what age will your children’s cover expire? Keep any detailed list of all such questions and properly interrogate your agent