Choosing health insurance for young families
Families with young children know the panicked trip to the hospital all too well – whether it’s a high fever, an allergic reaction, or even an accident on the playground, you just want the best care for your little ones. If you want to avoid out-of-pocket payments whilst doing so, purchasing a family health insurance plan can be an incredible help.
In one of our previous articles, Pacific Prime China imparted useful tips on getting the right family health insurance plan. But, if you’re a family with young children, how should you begin in your quest to choose such a plan? Today, we’ll go through just that by giving you six things to consider.
1. Discounts are a lifesaver
The easiest way to bring down your total premiums is to check if the insurer provides discounts specifically catered to families. In other words, this is the essence of family health insurance plans. It’s merely individual health plans for family members that costs less overall.
As is the case with group health insurance plans – the more people you add to a family health insurance plan, the greater the discount you can get. Of course, the actual figures vary between insurers, but don’t be surprised to receive up to 20% off.
2. Terms of coverage: annual health checkups, vaccination, etc.
One thing to bear in mind is that some family health insurance plans will have a shared limit between annual health checkups and vaccination. What you decide to prioritize will depend on your needs. After all, each family is unique.
However, be sure to look at the terms of coverage very carefully so that you’re crystal clear on what your policy entails. More often than not, families glaze over the fine print only to be disappointed at the limitations further down the line.
3. Ease of visiting your family doctor
Families are more likely to rely on a single family doctor. And that’s good because family doctors know your personal and family history. Your child may also be more comfortable with him/her. Given this, ensure that your family health insurance plan makes it easy to visit said doctor.
Not only should this doctor or his/her general practice be within the insurer’s network, but the best family health insurance plan will also provide direct billing access. This will enable you to avoid the often difficult, bureaucratic, and stress-inducing claims process.
Bonus tip: Choosing a family doctor? Check out this article that tells you what family doctors are responsible for, things to consider when choosing one, when to see him/her, as well as the questions to ask.
4. Outpatient services
While outpatient services tend to cost more, it’s worth including this in your family health insurance plan. This is because children typically require more outpatient services. And, particularly with younger kids, you should go to the doctor every time a need arises.
Here’s a quick roundup of coverage types that you may encounter:
Inpatient only: Coverage for anything that the patient is admitted to hospital for. E.g. surgery charges, ambulances fees, etc.
Outpatient as an extra: Coverage for anything that does not require the patient to be admitted to hospital for. E.g. day to day doctors, prescription medicine, etc.
Full coverage: Coverage for a range of added benefits. Often referred to as “riders”, options include maternity, vision, and dental coverage.
5. Plan variation within your family
It’s an age-old saying that: you get what you pay for. The same rings true for all health insurance plans. If you want a comprehensive plan, then be prepared to fork out more. Likewise, less comprehensive plans will cost significantly lower.
But, with a family health insurance plan, you can be a little cheeky. Ask for an inpatient-only plan for one partner, while getting a more comprehensive plan for the other partner and children. Note that this depends on many factors so you’ll need to consult a health insurance advisor.
6. Consulting a reputable agent
When it comes to examining the fine print of the health insurance policy or having an expert on hand for any clarification, it’s good to go through a reputable insurance agent. They can simplify the process for you – often, at no additional cost to you.
Looking to secure family health insurance? Pacific Prime China is an insurance agent that can help. You’ll be able to customize plans to suit your family and ensure your budgets are adhered to. What’s more, we can also give you impartial advice on insurance matters.
Disclaimer: Pacific Prime China solely represents, operates, and manages locally regulated insurance products and services in the territory of PR China. Any references to Pacific Prime Global Company or Group, the international services, insurance products, or otherwise stated written or verbally, is for introduction purposes about our overseas network only as each entity is fully independent.
Outside of work, Suphanida enjoys traveling to new places and immersing herself in different cultures.
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