The Best Health Insurance for a Young Married Couple

There is no one-size-fits-all when it comes to choosing the best health insurance plan. Every person's medical needs and financial capabilities differ, so the "best" policy is one that provides the coverage you need at a price you can afford. Considering this, it's essential that you understand some basic ideas about how different medical policies affect your treatment, and what you should expect from each one. Keeping in mind your own needs, you must evaluate the cost versus benefit of available programs and choose the one most suited to your situation.

Considering Averages

• From a purely statistical standpoint, it is almost common sense to acknowledge that most younger people have healthier bodies than older people and therefore tend to require less medical treatment. Considering this, and assuming that you are an average healthy young person, you may be comfortable with a less expensive, less comprehensive health insurance policy. If the likelihood of you requiring extensive medical treatment does not exist, then an expensive policy with all the bells and whistles may be overkill, whereas a policy that provides basic medical coverage and requires potentially higher out-of-pocket expenditure if significant treatment becomes necessary may be more appropriate.

EPO Plans

• Many young married couples choose to purchase individual EPO plans. These health insurance policies offer basic medical coverage for routine office visits and ordinary services yet contain very high deductibles, often in the range of $2,500 to $5,000 if extensive care, hospitalization or surgery is required. Additionally, many things ordinarily covered by other common health insurance plans are absent from EPO policies. Things like crutches or other durable medical equipment, ambulance rides, X-rays, lab work and similar services are commonly excluded from EPO benefits as a means of reducing the monthly cost.

Group Coverage

• According to health insurance regulations, your new marriage qualifies as a "life event," which entitles you to make changes to your employer-sponsored group medical plan outside of the standard open enrollment period. Most states provide a window of 30 days after the actual event within which any changes must be made. You and your spouse must evaluate the available options and benefits from each of your employers and choose the plan that best meets your needs. It is usually less expensive to purchase coverage as a couple as opposed to keeping two individual policies.

Maternity Benefits

• Choosing a policy with comprehensive maternity benefits may be essential to your fiscal security if you intend on having children. In addition to considering available policies from a general perspective, you must examine the costs covered, or not covered, regarding pregnancy, prenatal care and infant/newborn treatment. Some policies, while inexpensive and seemingly attractive, intentionally exclude certain services related to pregnancy and maternity. Limiting or removing those benefits reduces the monthly cost but leaves soon-to-be parents with potentially extensive medical bills, especially if complications arise during pregnancy or childbirth.