Health insurance is an important topic of discussion for many families. The cost of getting a health insurance policy and maintaining it just keeps getting higher and higher each year. At the same time, the services provided and paid for seem to shrink. This makes for an unpleasant experience overall for many people. How can you find the best family health insurance plan that is affordable and provides the required health insurance coverage for you and your family?
You could sort through them individually and try and dig up all of the relevant statistics, or you can enlist the help of current customers and ask them how they feel about the coverage they get with their family health insurance plan in return for the premiums they pay. Consumer Reports did just that in 2013 and compared a variety of companies in relation to their performance when caring for members with diabetes. Why diabetes and what makes diabetes so special? It is an illness that requires a lot of monitoring and can be controlled with proper healthcare measures.
The best health insurance for family coverage is not necessarily the cheapest. The best value in family health insurance should provide the most value for every dollar in insurance premium that you pay. Lesser known companies might be cheaper, but you may have a hard time finding services that accept it, or the payouts could be remarkably small. You need to find a company that provides enough healthcare maintenance services that you will not have to wait until you are on a deathbed to get services. Affordable family health insurance should include routine medical services that keep you and your family healthy.
The Struggle to Keep Families Insured
The National Compensation Survey in 2010 showed the perfect snapshot of health benefits over a 10 year period. It was conducted and compiled by the Bureau of Labor Statistics to demonstrate the struggle that has been ongoing in trying to keep families insured with health insurance. Statistics showed that between the years 1999 to 2010 the costs for health insurance rose 138%, whereas the rise in wages was a mere 42%.
When it comes to formulating healthcare policies that can address the financial capabilities versus the needs of employers and employees with family healthcare needs, there are quite a few factors that have to be taken into account. The amounts of contribution split between employer and employee had to be tallied and studied. Below are 3 of the most telling charts created by Kaiser Family Foundation from the data collected by the survey.
The chart below shows the steady climb of the amounts that employees have had to contribute over a ten year period. The rise in amount is partially due to the steady climb in healthcare costs, but it is also due to policies addressing more comprehensive health coverage options for families. You will realize that over a 10 year period, the cost has doubled.
By the year 2010, it was noted that the larger the organization was, that offered healthcare benefits, the more expensive they were per employee. This seems to defy logic. It would seem that with more employees, some type of bulk rate would apply. However, the reality is, the larger the company, the more likely they are to offer more benefits and comprehensive coverage than a smaller company.
The chart below offers an interesting view of the costs of healthcare insurance for people in a variety of occupations in the year 2010. Even though the amount is higher for professionals, it is still far less representative of their payroll increases than those in less prominent positions. They are also generally offered more impressive benefits packages.
Contribution amounts of companies towards employee healthcare have increased to over 18% of total payroll costs. It has been a combination of rising costs to employees and employers alike that caused a slight pull-back in benefit offerings. It has forced healthcare insurers to look at ways to offer as much coverage as they can at more affordable rates. There is one company that has always managed to put service and coverage out there with a better than average rate. They have set the standard in affordable health insurance for family and individual alike.
The Best Family Health Insurance Company
The company that impressed me and customers most when it came to pricing, value and overall services is United Healthcare. They were given credit for not only being affordable and offering a lot of comprehensive services, but they also earned points for being excellent customer service and offering the services that are needed to avoid high-cost hospitalizations and treatments. This is a hard thing to do when it comes to a condition such as diabetes. Many family health insurance plans balk at paying for monitoring services and checks on things such as the “eyes” to ensure that your vision is not being adversely affected by a particular condition.
United Healthcare doesn’t shy away from paying for services that will make all the difference in maintaining good health. Eventually, this avoids complications which require even more intensive and expensive healthcare. Many health insurance companies look more at the immediate bottom line profits and try to save on costs rather than allowing your family to get the maintenance healthcare that they need.
How Much Do Good Family Health Insurance Plans Cost?
According to the Kaiser Family Foundation / Health Research & Educational Trust (HRET) 2013 Employer Health Benefits Survey, annual premiums for employer-sponsored family health coverage reached $16,351 in 2013, up 4% from 2012, with workers on average paying $4,565 towards the cost of their coverage. The average maximum out-of-pocket costs for a family of 4 was determined to be in the range of $14,000.
United Healthcare has managed to bring the maximum out-of-pocket down to $12,700 for a family in 2014, which is better than the survey statistics of last year. You can opt for a higher premium coverage which allows for 100% of exam fees for maintenance routine visits to your network doctor, after paying the $35 copayment (or copay). It is the kind of affordable family health insurance plan that is oriented for those with small children that need frequent doctor visits.
Health Savings Account Benefits And Insurance
If you are fortunate enough to work for an employer that uses United Healthcare, or has the opportunity to bring these plans to employees, they will be in a unique position to offer affordable family health insurance. Utilizing a Health Savings Account (HSA) is a way for you or an employee to place before-tax income into a special healthcare account to be used for satisfying deductibles and plan limits. Employers can contribute to the HSA as well and it is a tax savings at the end of the year.
The maximum contribution of $6,550 per year can really help your family feel more relaxed about having the funds for needed healthcare. Those over 55 years of age can add an extra $1,000 each year into the HSA. The money is rolled over from year to year, so you never lose it. If an employee quits the company, then the money goes to the company. It is an easy way to plan ahead for the costs of health insurance for family.
Since you can retain the dollars you put in the HSA from year to year (as long as you remain employed with the same company), it makes the perfect tax-free savings plan for future retirement medical needs. Who wouldn’t want to hit their retirement years without the worries of how to pay for needed medical services? It is one of the more popular options with United Healthcare.
Low vs High Deductible Health Insurance
Another important way that United Healthcare provides the best health insurance for family budgetary needs is that you can choose to have a high or low deductible. With a higher deducible option, your premium payments will be lower. You agree to take on more of the routine healthcare expenses until the deductible is met in exchange for a premium amount that is much more affordable. It can make a difference of hundreds of dollars each month, depending on the size of your family. However, this still ensures that any major medical expenses are covered and therefore will not wipe out the family finances.
If it is more important to pay less out of pocket at the time of services then you can opt for a low deductible. Being able to be flexible is what really places United Healthcare health insurance for families at the top of the list. It is not a one policy fits all principle.
Why Is Health and Wellness Important?
There is no doubt that one very popular service offered by United Healthcare is access to helpful information and services which allows you and your family to be in good health and also to be able to maintain it. It saves them money as well as you. When a person feels good about their health and well-being, they are able to be more productive and have a better quality of life. This translates to less medical costs for all involved.
United Healthcare has the available resources on things such as nutrition and weight loss and even about how to live better with chronic illnesses. It is interesting that Consumer Reports based their study on diabetes since United Healthcare places a lot of emphasis on monitoring and stabilizing those with this particular condition. They attempt to educate people on pre-diabetic conditions and how to make the necessary lifestyle changes before it becomes worse.
Bringing real value to the public as a health insurer means taking the time to do the little things that help you and me avoid illness, injuries and possible hospital stays. Family health insurance plans should not be there to simply pay for emergency care, or wait until the last possible minute to use it. United Healthcare has found a way to create risk management information platforms that help minimize cost and maximize health standards. It is what makes them successful in offering affordable family health insurance.
United Healthcare coverage is perfect for new and growing families. The health insurance for families alleviates worries about frequent check-ups and health monitoring of growing children and pregnancies. You can rest assured that your family is getting the best healthcare possible and know that it is the most affordable family health insurance available with the type of comprehensive coverage offered.
Affordable Family Health Insurance Plans Needs to Allow Growth and Be Flexible
Finding affordable family health insurance plans that are flexible enough to work with family growth and changing needs is not always an easy task. United Healthcare has designed policies that offer coverage from the cradle to retirement. You can find policies that are cheaper, but the end results will be disappointing. You need health insurance for families that provides for the needs you have at the time and change as your situation changes. This is where United Healthcare has provided health care policies that offer the best value for the family dollar spent.
If you are fortunate enough to work for a company that provides United Healthcare family health insurance plans then you will be surprised at how affordable it really is. The range of coverage is above average for most competition. The full spectrum of total healthcare education and services far exceeds any in their price range. If you are seeking a company to get a family plan with on your own then you should give them a try. There is a wide spectrum of plans and options available that can fit nearly any budget.
Large family policies can run several hundred dollars each month, It really depends on your medical history, deductible amounts you want and how much you are willing to contribute towards routine medical expenses. What’s certain is that no matter what your circumstances are United Healthcare can bring you a solution that fits and is affordable. Find out more about how and why they are deemed the best value when it comes to family health insurance plans here.
The Affordable Healthcare Act may have forced some insurers to start looking for ways to make family health insurance more affordable, but why not try coverage with a company that has built their business around this already.