Family insurance is a cheaper option than individual insurance policies. It provides insurance coverage for all members of the family. It is especially beneficial for those with more than one child as the premiums are usually the same for all children. Family insurance can include homeowner’s insurance and family health insurance. This may be used to cover mortgage payments for the principal earner in the event of unemployment, disability, or illness.
Addition of Children to Employers’ Health Insurance
You may find it very costly to add a child on to your employer’s existing health insurance plan. It is also possible to be quite expensive to purchase additional family insurance, especially if you have multiple children.
What’s included in Family Insurance Coverage?
This type of coverage usually covers routine annual medical exams for children under 16, or 18 in certain plans, and prenatal care. Children as long as they are full-time students may be covered by some policies. Family insurance policies may include hospital inpatient care, including x-rays, lab tests, and other procedures. You should always verify that you are aware of the details of your plan. Some plans allow you to choose maternity coverage that covers all members of the family, which might be suitable for women with children. Although no one wants teenage pregnancy, it is possible and family insurance can help.
Dental Insurance for the Family
Some insurance policies offer family dental coverage. Others may require you to purchase separate coverage. The type of coverage offered and the age limit for dependent children will vary between policies. The amount of your monthly payments will determine how much coverage you receive.
Students who are full-time
Many insurance policies cover children over 18 if they are enrolled in school. Sometimes, insurance coverage extends to twenty-three or four children. Before the student leaves for school, make sure they check with local doctors, clinics, hospitals, and campus medical facilities to see if they are willing to take the family’s insurance.
What may not be included
Some treatments that are common in childhood may not be covered by family insurance. This includes replacement of glasses, allergy tests, braces, and replacement for glasses. Take into account the coverage offered by the policy and consider a savings plan to cover any items not covered by your family’s insurance.
Families with more than one child may find family insurance coverage a worthwhile investment. While there may be some items not covered, most policies provide good coverage for the entire family. This includes full-time students over the age of 18.