There is no one-size-fits-all answer to this question, as the best health insurance for a small family will vary depending on a number of factors, including the ages and health of the family members, the family's budget, and the types of coverage that are most important to the family. However, some general tips that may help you choose the best health insurance for your small family include:
- Make sure the plan covers the essential health benefits.
The Affordable Care Act requires all health insurance plans to cover 10 essential health benefits, including things like doctor's visits, hospitalization, prescription drugs, and maternity care. So, when shopping for a health insurance plan for your small family, make sure that the plan you're considering covers all of the essential health benefits.
- Consider the premium, deductible, and out-of-pocket costs.
When compare health insurance plans, it's important to look at more than just the monthly premium. You'll also want to consider the deductible (the amount you'll have to pay before your insurance kicks in) and the out-of-pocket costs (the amount you'll have to pay for things like co-pays and coinsurance). In general, plans with a higher monthly premium will have a lower deductible and out-of-pocket costs, while plans with a lower monthly premium will have a higher deductible and out-of-pocket costs.
- Compare the networks.
Most health insurance plans have a network of doctors, hospitals, and other providers that they work with. When you see a doctor or other provider who is in your plan's network, you'll usually pay less than you would if you saw a provider who is out-of-network. So, when considering health insurance plans, be sure to compare the networks of each plan to make sure they include providers who are convenient for you and your family.
- Look for a plan with child-specific benefits.
If you have young children, you may want to look for a health insurance plan that has child-specific benefits, such as coverage for well-child visits, immunizations, and vision and hearing screenings.
- Get quotes from multiple insurers.
Health insurance premiums can vary significantly from one insurer to the next, so it's important to get quotes from multiple insurers before you make a decision. The best way to get quotes from multiple insurers is to use an online marketplace like the one at healthcare.gov.
You can also talk to a licensed health insurance agent or broker to get help compare plans and find the best option for your small family.