2010 was a landmark year in health insurance. The birth of the Affordable Care Act made it possible for every person and family to have access to health care.
While it is no longer mandatory and there are no penalizations for not having health care insurance, the Affordable Care Act, or Obamacare has brought many benefits. Guaranteed coverage for anyone, no matter their health, guaranteed coverage for mental health issues, and guaranteed pediatric dental coverage, to name a few.
When exploring health insurance plans for family, it is important to sort through all possibilities to find the one that fits your family best.
What Are Your Family Health Insurance Options?
You will, of course, want the best family health insurance plan for your family at an affordable price, and there are several possible health insurance plans available for your family to choose from.
The most commonly discussed option is the healthcare marketplace offered through healthcare.gov. Healthcare.gov offers both private and employer options for healthcare through the government portals available in each state. Those who qualify may obtain a subsidy to help pay for their family healthcare. The standards are above the welfare poverty level, but not quite middle-class standards.
If you receive family coverage from your employer, you will not likely qualify for a subsidy. The marketplace offers a variety of insurance options for your family from well-known companies at a variety of price points. Should you qualify for completely subsidized insurance, rather than being forced to take Medicaid, you can still have health coverage from the exchange.
Another option is employer-based insurance. Those lucky enough to have a job that offers health insurance plans for family may be able to have a premium health plan for a fraction of the price. Most employers must offer insurance to employees at a competitive premium, especially if the employer has 10 or more employees. Typically, the employee is able to cover his entire family through a reputable carrier at a relatively small fee. If you lose your job for any reason, this coverage can be continued through COBRA.
The final option is private insurance. Those with the means can purchase health insurance for their family directly from their preferred provider. The coverage offered in this arena is typically a premium coverage at a premium cost.
Benefits Under The New Laws for the Family
Under the new laws, your family will receive a better standard of healthcare, or at least that is the intention.
No one can be denied insurance or charged an exorbitant rate as a result of a diagnosis. Therefore, if you and your spouse have a child with a health issue, your child will receive the same coverage as any other child at the same rate for the plan you have chosen. The same applies to cancer patients, heart patients, diabetics, and any other medical conditions your family may face.
Another amazing benefit is free wellness checks for the entire family. Anyone with children knows that a newborn and infant must go every month to three months for a wellness check. If you had to pay for these, you could end up spending several hundred dollars going to the doctor during a time when money is already tight as you are adjusting to life with another member of your family. Those appointments and all subsequent wellness checks into adulthood are covered 100%. This includes annual gynecological exams, mammograms, prostate screenings, and physicals.
In addition to wellness exams, health insurance for your family means preventative medical measures are covered completely. This refers to the flu shot for the whole family, as well as all immunizations, which are covered 100%. This also extends to family planning measures, such as birth control pills. Being that mental health has been a hot issue, it is reassuring that health care plans must now cover mental health care as well as physical healthcare. Therefore, no plan available to anyone will be devoid of mental health coverage.
Finally, as the last preventative measure, pediatric dental coverage is mandated to be part of every health insurance plan. Families with children understand the benefit this offers, considering the expense of helping children maintain a clean and healthy mouth.
Do Not Go Without Family Care
The Affordable Care Act may not be the perfect answer to the epidemic affecting health care in the US, but it is a much better alternative than going completely without insurance. It helps those who truly need coverage to not be singled out or denied and left to handle the bills on their own, while potentially claiming bankruptcy.
It ensures the necessary coverages are available to all people, because while it may seem unnecessary at the moment, you never know when you may need the likes of mental health coverage or free immunizations. No family should ever have to go without a family health insurance plan in the United States.
Whether you are a family of two or a family of 10, you are entitled to have the means to pay for necessary life-saving measures and the right to protect your overall health. The Affordable Care Act has recognized this basic human right and provided an answer to the problem of underinsurance and uninsured families.
We all would do anything possible to give our child medical help when they need it. Now, all you have to do is present your insurance card.
Average Cost of Family Health Insurance
Family plan costs vary based on the type of coverage, state, age of the primary insured, and the number of family members under the plan.
Health insurance plans creep up year on year and according to the National Conference of State Legislatures, the average annual premium for family healthcare reached $19,616 in 2018.
Of course, many families with health insurance coverage have subsidies available through an employer healthcare plan or through the Affordable Care Act to help offset the cost.
Using the Milliman Medical Index, we take a look at the average cost of health insurance for a family of three, four and five based in a mid-range cost area. If you are looking to get an accurate average cost of family health insurance for your family, receive a free quote today.
Average cost of health insurance for a family of three
The 2019 Milliman Medical Index uses a male aged 47 and a female aged 37 as the typical age for parents. For a couple of this age with a child under two, they can expect to pay around $25,000 annually. And if the child is over two years old, the annual costs will be closer to $19,000.
Typically, the average child adds $3,000 to the family healthcare plan but for children aged below two years of age, the premium rises by $9,000.
Average cost of health insurance for a family of four
Using the same age of parents for a family of four, the average cost of health insurance will once again flux depending on the children’s age. If one child is over two and the other is a newborn (aged 0-1), the annual cost of a family health insurance plan will be around $28,000. But if both are over two years of age, it will be $22,000.
Average cost of health insurance for a family of five
For a larger family of five, the average health insurance cost will obviously be higher than premiums for a smaller family.
For the same aged couple with two children over two years old and a newborn (aged 0-1), an annual family health insurance plan will be upwards of $30,000. However, if all three children are above two years old you can expect to pay closer to $25,000.