Health Insurance Plans for Family is a kind of medical insurance that covers the entire family under a fixed sum insured. Under family health insurance, you can cover two or more family members for several healthcare expenses including in-patient hospitalization expenses, pre-hospitalization & post-hospitalization expenses, daycare expenses, etc.
What is Health Insurance?
It is an agreement between the insurer and the policyholder whereby an insurance company agrees to reimburse for medical costs incurred by the policyholder during the tenure of the policy. According to the policy terms, the insured may incur medical expenses if they get ill or meet an unfortunate accident that leads to treatment at the hospital. To avail of the coverage benefits of the policy, the policyholder must pay a specific amount periodically, called a premium. The premium is determined by the insurance company and must be paid by the policyholders without any fail either monthly, quarterly, half-yearly or annually.
When do I need health insurance?
If you are not covered as a dependent under someone else’s health plan, such as a spouse/partner or parent, it’s a good idea to have health insurance. The cost of health care without coverage can be substantial.
What are the different types of health insurance?
- Health Maintenance Organizations (HMOs)
- Exclusive Provider Organizations (EPOs)
- Point-Of-Service (POS)
- Plans Preferred Provider Organizations (PPOs)
Not sure which types of health insurance are best for you? The following is a general description of each of the types of health plans.
What are Health Maintenance Organizations (HMOs)?
HMOs give you a local network of participating doctors, hospitals, and other health care professionals and facilities that you are required to choose from. These types of health insurance plans also require you to choose a Primary Care Provider (PCP) from the network. Your PCP is your home base for medical care. They get to know you and help coordinate all your care. They will also need to provide you with a referral to see in-network specialists. The costs for an HMO plan—copays and coinsurance—are typically lower than other types of health plans, as long as you stay in-network.
What are Exclusive Provider Organizations (EPOs)?
EPOs offer you a network of participating providers to choose from. Most EPO plans do not include coverage for out-of-network care except in the case of an emergency. This means that if you visit a provider or facility outside the plan’s local network, you will likely have to pay the full cost of services yourself. Depending on the plan, you may or may not be required to choose a Primary Care Provider (PCP).
If you want to see a specialist in your network, you don’t need a referral from a PCP.
What is a Point-of-Service (POS) Plan?
POS plans combine features of HMO and PPO plans. The provider network is typically smaller than a PPO plan and the costs for in-network care are typically lower, like an HMO. POS plans also require you to choose a Primary Care Provider (PCP) from within the plan’s network of doctors and other primary care professionals. Your PCP is your home base for care and advice. They get to know you and your health needs and can help coordinate all your care.
What are the different types of health insurance?
- Health Maintenance Organizations (HMOs)
- Exclusive Provider Organizations (EPOs)
- Point-Of-Service (POS)
- Plans Preferred Provider Organizations (PPOs)
Not sure which types of health insurance are best for you? The following is a general description of each of the types of health plans.
What are Health Maintenance Organizations (HMOs)?
HMOs give you a local network of participating doctors, hospitals, and other health care professionals and facilities that you are required to choose from. These types of health insurance plans also require you to choose a Primary Care Provider (PCP) from the network. Your PCP is your home base for medical care. They get to know you and help coordinate all your care. They will also need to provide you with a referral to see in-network specialists. The costs for an HMO plan—copays and coinsurance—are typically lower than other types of health plans, as long as you stay in-network.
What are Exclusive Provider Organizations (EPOs)?
EPOs offer you a network of participating providers to choose from. Most EPO plans do not include coverage for out-of-network care except in the case of an emergency. This means that if you visit a provider or facility outside the plan’s local network, you will likely have to pay the full cost of services yourself. Depending on the plan, you may or may not be required to choose a Primary Care Provider (PCP).
What is a Point-of-Service (POS) Plan?
POS plans combine features of HMO and PPO plans. The provider network is typically smaller than a PPO plan and the costs for in-network care are typically lower, like an HMO. POS plans also require you to choose a Primary Care Provider (PCP) from within the plan’s network of doctors and other primary care professionals. Your PCP is your home base for care and advice. They get to know you and your health needs and can help coordinate all your care.
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20 Best and Affordable Health Insurance in the USA
The following are the top 20 health insurance companies in the United States listed by size of market share in descending order:
- United Health
- Kaiser Foundation
- Anthem Inc.
- Centene Corporation
- Humana
- CVS Health
- Health Care Service Corporation (HCSC)
- CIGNA
- Molina Healthcare
- Independence Health Group
- Guidewell Mutual Holding
- California Physicians’ Service
- Highmark Group
- Blue Cross Blue Shield of California
- Blue Cross of Michigan
- Blue Cross Blue Shield of New Jersey
- Caresource
- UPMC Health System
- Blue Cross Blue Shield of North Carolina
- Carefirst Inc.