Should You Include Your Senior Parents In Family Health Insurance?

 



Family health insurance plans are a type of group health plan that allows you to include several members of your family under them. Most insurers permit you to add your parents, parents-in-law, your spouse and children, siblings, nephews, and so on. If you have senior parents, it may have crossed your mind as to whether it would it be a wise move to include them under the health insurance plan as persons above 55-60 years of age have different and more demanding medical needs. Let’s take a look at the pros and cons of adding your parents to the family health insurance plan. 

The pros 

1. Lower premiums

It is quite well known that family health insurance plans are cost-effective. As compared to insuring each family member with a separate individual health insurance plan, the rates for a family plan are going to be much lower. And since the premium rates for senior citizens tend to be higher, buying a separate policy for your parents would lead to quite an increase in your overall health insurance budget.  

2. Convenience 

One reason why many people for family health insurance plans over multiple individual policies is the convenience that comes along. You have to pay only a single premium to the insurer, and your family is covered for the succeeding year. With multiple policies, you would have to pay multiple premiums as well. So, by including your parents in your family health insurance plans, you are not only saving money but a bit of time and 


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