Your Daily Health Tips

When you’re selecting for a health insurance plan for your family, it’s easy to become confused by all the options you have available.

For some folks, it’s enough to make them want to give up. But, don’t worry – all you really need to know are a few simple facts to help you select the best Texas health insurance policy for your family:

1. Know your network. Basically, there are only two major components to a health insurance plan: Access to a healthcare network of providers at discounted rates, and protection against unforeseen medical expenses in the case of a hospitalization for an accident or extended illness.

So, it’s important to find out how good the healthcare provider network is for each plan, and whether you are allowed to see the healthcare provider of your choice (see #2 below).

2. Know the difference between HMOs and PPOs. HMOs provide health care services on a prepaid basis, and tend to limit you to healthcare providers that are in the HMO’s network. On the other hand, PPOs often provide more flexibility, both in the levels of coverage provided as well as by allowing you to see the doctor of your choice. Not surprisingly, most people would prefer a PPO over an HMO, since the PPO offers the most freedom in coverage and choice of health care providers.

3. Know the policy limitations on any preexisting medical conditions. Many health coverage plans have limitations on preexisting medical conditions. These exclusions are governed by federal law, and are generally limited to conditions you saw a healthcare provider for or that your healthcare provider recommended you receive care for in the six-month period immediately preceding your enrollment dates. Just be aware that any preexisting conditions that fall within those guidelines may not be covered under some health care coverage plans.

4. Know what the deductibles are. The deductible is the amount you have to pay out-of-pocket before the insurance company is required to pay your expenses. Generally, a higher deductible means a lower monthly premium, and vice versa. Make sure that, if you choose a higher deductible, that you have the means to pay it in case of a hospitalization or major surgery. Those lower monthly premiums could very well end up costing you dearly down the road; make sure you plan accordingly.

So, here’s what you need to look for: Know your network, understand the difference between HMOs and PPOs, find out if there are any exclusions for preexisting conditions, and know what your out-of-pocket expenses are for the Texas family health insurance plan you are thinking about getting.

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With health insurance costs and unemployment rates rising simultaneously, it seems that the perfect storm has hit more and more people in the U.S. However; for someone who is willing to take some initiative there are viable options available. This particularly holds true if the person in question is recently unemployed.

The COBRA Act of 1986

The Consolidated Omnibus Budget Reconciliation Act of 1986 or “COBRA” as it is commonly referred to dictates that most employees who were member of an employers health insurance plan be allowed to continue their coverage after the employment has been terminated. Of course, they will have to continue to paying premiums but the amount of those premiums can’t change due to their employment status.

18 to 36 Months of Coverage

In most case, the time frame dictated by the COBRA act is 18 months that they will be allowed to continue with their preexisting health insurance policy. However; in some cases with extenuating circumstances this time frame can increase up to 36 months. The terms of the COPRA act also dictate the the covered employees wife and other immediate family members also be allowed to stay covered by the employers health care plan as well.

Community Groups and Organizations

If you are inelligable to be covered under this act then there are other alternatives. For instance, many community clubs and organizations have group health insurance plans that allow for their members in good standing to join. However; many of these clubs and organizations requirement that you be a member for a certain period of time before you can join their health care plans.

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When you’re young and in good health, you often live for the now. Some have the qualifications to find employment including health insurance in the compensation package, but most take what is available and let things drift until responsibilities come along. Then you start asking questions about what you want in the future. It starts with a partnership or marriage. It gets more urgent when children appear on the scene. If you found a job with a health insurance package, you can usually add your new partner or spouse to the plan. The first issue is whether that plan gives all the cover you need. Should there be gaps, you buy top-up cover. Then as the family grows, does the plan include children and any other dependents? Overnight, you become experts in the detail of the employer’s plan and carefully research what the private health insurance companies offer to give the additional cover. If your job has no health plan, but one of you had the wisdom to begin a private health policy, it is usually possible to upgrade to a family policy. Because you have track record with a company, this is less of a hassle than finding a completely new company for the family. If you’re starting with no health cover, you will find there are major differences in the premiums quoted. Through sites like this, you get instant quotes from multiple health insurance companies. By using two or three sites like this, you can rapidly accumulate a daunting array of information about different policies and quoted prices. This makes choosing the right cover a real challenge. The first step is take a cold-blooded look at the family finances. This is not a time for sentimentality or blind hope. You need hard figures on what you can afford to pay not just now, but in the foreseeable future. Remember your credit score drops if you start a policy and then find you cannot afford the premiums. The next step is to decide exactly who is to be included in the policy and what range of cover you want — just basic treatment options working up to long-term care insurance. Remember the larger the group and the wider the age range of the people to be included, the more the premium is likely to be. The more conditions, illnesses and injury possibilities you add, the more expensive the policy is likely to be. This drives you back to your financial calculations. The way to lower the premiums is to accept a higher deductible or copayments. But this needs a careful calculation. How much will you pay each year as self-insurance through the deductibles or expenses, against the saving in the annual premium. Weigh the benefits against foreseeable costs to make the right decision on which family health insurance policy to buy.

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