What is the best medical insurance for family coverage?
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Asked February 10, 2011
Employer or Group plans generally provide the widest range of coverage at uniform prices. The nature of group coverage is that the risks of the group are distributed equally over the whole group, which regulates the premiums for everyone but forces many people to pay more for their health care than they might consider "fair." Group insurance may have limitations or exclusions that make it unsuitable for all families. Group plans do not require qualifying medical examinations. Group health insurance is the most common, and has fewer restrictions than private insurance.
Private health insurance plans typically offer better rates than group plans, but they are more particular about who they will accept into the program. You may find that some private insurance plans have a longer list of items considered pre-existing conditions, or exclude conditions that were covered under employer-sponsored health care plans. Private health insurance requires a qualifying physical, but as long as your family members qualify it is a more affordable route to take.
Government sponsored plans are not the preferred method of having a family health insurance plan. They only provide limited coverage for many conditions, and are typically used in situations where no other type of coverage is available. If you or members of your family have "uninsurable" conditions, government sponsored health care such as Medicaid and Medicare may be the the only alternative which works. Don't think of these plans as voluntary options, but as a way to get necessary health care in a last resort.
Supplemental insurance plans can be purchased to coexist with group, private, or government health insurance. These plans typically pick up when the main coverage is maxed out or to fill gaps in coverage. Supplemental coverage may include such things as dental care or cosmetic surgery, or simply act as an additional source for medical procedures and treatments.
Answered February 10, 2011 by Anonymous