How Much Should I Pay For Family HMO Plans?

Family HMO plans are popular health insurance solutions for many families. This is because they offer comprehensive, preventative care for adults and children. With so many plans available, how do you know what a fair price is? Think about these issues when looking for family HMO quotes:

  • Family size. Larger families with more children will pay a higher family health insurance rate. Each child adds to the cost of the health insurance premium, but there are often discounts for multiple children.
  • Health status. If one or more family members has a pre-existing condition (such as diabetes, asthma, or high blood pressure), family health insurance quotes are likely to be more expensive than they would be otherwise.
  • Size of provider network. Wide provider networks that include a greater variety of doctors, hospitals, and specialists offer more convenience to you and your family. The downside is that family HMO health plans with large networks tend to be more costly. In effect, the health insurance company holds those health care providers on retainer; they negotiate discounted rates for services while guaranteeing a steady stream of customers.
  • Amount of deductible and co-payments. These aspects of cheap family health insurance are personal decisions. It is important to consider your family’s monthly budget and the level of risk you are comfortable with. Since health insurance companies want to discourage small claims, higher deductibles come with lower family health insurance rates. The same is true for co-pays; increasing them from $25 to $35 can cut your premiums. Depending on how often your family visits the doctor, that simple switch can lead to significant savings.

Remember that the best family health insurance is the plan that suits your needs and those of your loved ones.

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