Solutions for Families on Group Health Insurance
Are you protecting your family medical costs before they happen?
Did you know this about family medical insurance...
“The average family of four with an employee sponsored health plan will spend more than $12,200 on medical expenses in 2005, up from just $8,400 a year in 2001, according to a new report.” Yes, “Employers do absorb the bulk of the cost, leaving the average family of four covering 17% of the overall cost.”
The article goes on to say employees are feeling a heavier burden in their portion of health care expense. Total out of pocket expenses, such as the deductible, co-pay or co-payments for medical visits, hospital care and prescription costs will total an average of $2,035 in out of pocket expense for a family of four, up over $500 per year from 2001. The figures are results of a report formed by Milliman's database which is done by taking the average costs for 15 million people, employees and employers alike. It focuses on an employer paid PPO (Preferred Provider Organization), one of the fastest growing managed care accounts.
The numbers reflected above do not include premiums, simply the average medical costs paid out of pocket by the individuals and families who have employer sponsored health care packages.
You may say, “Okay, as part of an employee sponsored plan, my costs have risen”. Perhaps you have noticed the increase, as most middle class hard working Americans will, when the out of pocket medical expense is on the rise. Now, do you simply brace yourself and do nothing? Or are there steps you may be able to take to provide a solution and preserve your financial state? For the sake of you, the individual, and your family, the advice is to be proactive. Look into solutions immediately. Talk to your employer. And most importantly, ask questions. Ask questions.
- Is your employer sponsoring a medical plan where you and your family are receiving the right medical benefits for money spent?
- Is the plan current, meaning, does it effectively address your current medical needs and concerns?
- Are your families health care needs being met? Is your employer in a position to change the plan, if in fact, a determination is made that another plan would be more beneficial for both the company and to you, the employee?
- Have you or your employer considered an HSA, Health Savings Account?
A Health Savings Account may provide you with a better return on healthcare costs and be an investment than a traditional medical plan. They only way to find out for certain is to assess your needs strategically, and you may do this with consulting with an insurance agent at absolutely no out of pocket cost for you!
California family health Insurance Quote
It can be arranged for an agent to come in to meet with you, your employer and your fellow employees to simply be certain that costs are being managed efficiently. What do you contribute for health care on your employer sponsored plan? Part of this information will be on your pay check stub, either weekly, bi weekly or monthly, depending on how you are paid and how your cost is deducted. Determine what you have paid this year to date on out of pocket medical expenses. We can assist you with a cost vs. benefit analysis, in effort to determine if we can provide you with a less expensive plan (less out of pocket for you) to maintain the same level of coverage if not more. One should also keep in mind both long and short term costs and benefits. We at ewebinsurance.com wish to provide you with insurance plans that serve your individual needs. Remember to ask about the Health Savings Plans. This is something that may assist you in keeping premiums down and provide a return on the money you are probably already investing into healthcare. Ideally, get a fast quote and look into a combined family plan, a plan for the parents and a plan for the children to provide you with excellent coverage and a bright financial future, where expense today is money saved for tomorrow, should you have a rainy day.
