A family plan is the best choice, especially if you are just starting out or about to start a family. This is the type of low-income medical insurance you’ve been searching for. It provides coverage for the insured person as well as additional coverage for mother care and child care if you have children.
Family Insurance Plans: The Problem
One word can sum up the disadvantages of having this type of insurance: it is limited. There are so many limits that you would have to comply with that you might wonder if the extra monthly fees are worth it.
In a way, family insurance is similar to income tax. There is a limit to the age of persons that you can legally call your dependents. Children below 18 years of age may still be considered dependents for income tax purposes, as they have not yet reached legal adulthood.
Insurance companies have much more stringent age requirements. Family insurance packages typically only provide healthcare coverage for the children of the insured until a certain age, and that’s often much younger than eighteen. Some coverage is limited to those who are in their pre-teen or toddler years. Anybody older than 18 years old will need to pay an additional fee or, worse, get a separate policy.
Are you a candidate for a credit-card? Did you have to go through an interview? It was difficult or demeaning. It took a while before your credit card application was approved. What credit limit and service did you receive?
It is not easy to apply for family insurance. If your family members are not in peak health, you may be required to undergo a lengthy interview to allow insurance agents to determine the risk you pose to them.
Insurance companies aren’t known for their speedy service. Your insurance company will likely take a while to review your application, especially if they discover that you have poor credit scores.
You realize how much less you have expected from your insurance policy when you actually get it. It is very limited in coverage, the monthly fees are almost prohibitive, and the policies that are required to refund or reimburse are nearly impossible to understand.
Use of complicated terms and conditions
Other terms and conditions that your family insurance policy has, even if they do not include policies regarding reimbursement, can be confusing. For example, you may need to know which types of diseases your insurance policy covers and which ones are excluded. It is also important to identify the names of approved healthcare providers. This will allow you to maximize your policy.