Tips for Choosing a Family Insurance Plan - PowerPoint PPT Presentation

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Tips for Choosing a Family Insurance Plan

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Choosing the proper health insurance plan is a huge decision for most families. This presentation is to provide tips for choosing a family insurance plan. – PowerPoint PPT presentation

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Title: Tips for Choosing a Family Insurance Plan


1
  • Tips for Choosing a Family Insurance Plan

2
Introduction
  • Choosing a family insurance policy is a crucial
    part of any long-term family plan. That being
    said, browsing through the myriad of policies
    being offered by various insurance companies can
    be a hugely daunting task
  • Unfortunately, there is no one-stop solution for
    selecting an ideal health insurance plan
  • Every plan will have its own pros and cons. What
    is important is that every member of your family
    is adequately covered against common medical
    expenses

3
Contd
  • To this end, most people do considerable research
    before even approaching an insurance agent.
  • This is because knowledge is essential knowing
    the different options available to you, as well
    as what those options offers and whether you can
    afford them, can be the deciding factor in
    choosing the perfect plan
  • To make this tedious process easier, we have
    listed some important points to keep in mind
    while choosing a health insurance plan for your
    family

4
1) Check and Analyse Plans Provided by your
Employer
  • More often than not, the health insurance plan
    provided by your employer will most likely be the
    most viable and affordable option. Some companies
    also provide a choice of different plans to
    choose from

5
2) List Down the Top Differences
  • Compare the benefits and coverage of factors such
    as monthly premium, deductibles, co-payments,
    co-insurance rates, costs for seeing
    out-of-network providers, preventive care,
    physical exams, vaccinations, etc.

6
3) Check for Special Needs
  • Certain families may require special services
    that are not provided by standard plans. For
    example, if you know that you and your partner
    are having trouble conceiving a child, you should
    opt for a plan that covers fertility services. If
    you are raising a special child, ensure that your
    plan has mental health coverage, nursing care,
    etc.

7
4) Keep Asking Questions
  • Do you need referrals for specialist visits?
  • Are there any cashless hospitals that will
    provide treatment?
  • What pre-existing medical conditions do you need
    to disclose?
  • How bad is the paperwork to get emergency room
    treatment approved?
  • At what age will your childrens cover expire?
  • Keep any detailed list of all such questions and
    properly interrogate your agent

8
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