In a day and age where bigger almost always seems better, American Family Health Insurance company tries to give all the benefits of a large company with a small company feel.
They still strive to meet the needs of the average American family by offering affordable coverage that provides for foreseen and unforeseen medical needs. Providing quality insurance at an affordable price is still their main focus.
Use this guide, read the customer reviews of American Family, and take advantage of the free tools on this web page to compare quotes and determine if this health insurance provider can meet you and your family’s health insurance needs.
American Family Health Insurance Financial Stability
Finding a health insurance company with financial stability is the most important aspect of finding insurance. You need to know that you will be covered when you need a bill to be paid, insurance to kick in, or a claim to be reimbursed. One way to tell the financial stability of a company is to see if the company offers a wide range of products at a competitive, affordable price. American Family does both. But there are other ways to ensure the financial stability of a company as well.
One way to do this is to look at the assets of the company. American Family currently has $15 billion in assets under management and in policyholder equity, over $4 billion. As a company, they have been licensed by 19 states to sell insurance. American Family Health Insurance is available in Wisconsin, Washington, Utah, South Dakota, Oregon, Ohio, North Dakota, Nevada, Nebraska, Missouri, Minnesota, Kansas, Iowa, Indiana, Illinois, Idaho, Georgia, Colorado, and Arizona.
Another way to check financial stability is to check a company’s rating. You can check the financial rating of a company through Standard and Poor’s rating company. This company rates over 3,000 insurance companies and allows consumers to see the ratings for free. The ratings given are similar to grades on a report card. American Family Insurance has a AA- which means it has a “very strong capacity” to be able to pay any financial claims that come up. This rating is only one degree lower than the highest rating of AAA given by Standard and Poor’s. Other auditors that offer independent ratings online include A.M. Best and Moodys.
American Family Health Insurance Services
Another important aspect of choosing an insurance company is to understand what services are provided and how they work should you have a medical payment, bill, or claim to make. For hospital claim service, AFI does not require that you let them know prior to an emergency admission but does need to know within two business days after you have had an emergency admission. If you have a planned admission to the hospital, AFI requires prior notification.
Another service offered is durable medical equipment coverage. It is easy with AFI. You just use an in-network provider and then file your claim for reimbursement. Or you can contact AFI and they will help you find a provider to ensure that you are getting the best, most affordable rate.
When using a provider, to get the most value out of an AFI plan, you need to use an in-network provider. When you do this, you may have no co-pay or you may save an average of 10%-20% off of your out of pocket expenses. Checking before appointments and asking either the provider or AFI will let you know if you are working with an in-network provider. AFI also provides an online list of in-network providers for convenient look-up.
One of the greatest concerns for US citizens right now is the cost of buying prescription medications. American Family health insurance also offers a discount prescription drug program. Depending on what health contract you choose, you will receive a packet in the mail with a drug discount card. By using this card at participating pharmacies, you can usually save money on your prescription though it does depend on what medication you need. Participating pharmacies are also conveniently listed online. You’ll want to inquire about specific medications you take and the policies regarding generic drugs before committing to any plan or policy.
Another service offered by this insurer is grievance or appeal service. This service allows the insured to express concern over a claim or service that was not covered by your plan. Appeals and grievances must be submitted in writing and follow certain procedures, but it does offer you a layer of protection. If you feel a service was not covered that should have been, you can voice your reasons and be given a second chance.
Types of AFI Health Insurance Coverage Offered
The types of coverage AFI offers depends on the state you are receiving your policy through. However, there are some types of coverage that are typically offered in the majority of the states AFI works through. Typical health insurance products offered are High Deductible Health Plans, Major Medical, Short Term Medical, and Medicare Supplement.
A High Deductible Health Plan or HDHP is a plan that has a lower premium and a higher deductible than the average health care plan. The benefit to this type of plan is that it gives you much more flexibility in choosing providers, hospitals, and specialists.
However, it is important that you have the money set aside for your high deductible or the ability to pay the deductible should the entire amount need to be met. Since many times a deductible is not met during a calendar year and premiums are low, this is a good plan to go with if you have the out of pocket money for a deductible.
Major Medical refers to a health insurance plan that covers all or most of medical expenses associated with medical care. This includes serious illnesses, hospitalization, surgery, wellness checks, x-rays, blood work, and more. Major Medical is the most comprehensive plan available and is recommended especially for families. This is the type of plan that typically has the highest premiums but the most coverage.
Short Term Medical Insurance is insurance that is needed on a short term or temporary basis. It is ideal for those who are in between jobs, waiting for an enrollment period at a new job, newly retired, unemployed, or just out of college. Short Term Medical can provide for medical needs while you are waiting for long term coverage to begin.
Medicare Supplement insurance gives those ages 65 and older who are on Medicare, the extra coverage they need. Medicare does not always cover every medical need or cost that arises and for those in the retirement years, having the right type of coverage is very important to save out of pocket expenses.
How to Decide Which Company is Right for You
To decide if American Family health insurance or another provider is right for you, you can use the comparison tool on this page right now. The comparison tool will provide you with quotes and rates from top companies so you can decide on the company and coverage that is right for you.
If you have additional questions, you can contact an independent agent to get all the information you need to begin receiving coverage. While only you can make that final call, the agents and quote tool above can guide you in the right direction.
Why not make the call or type your zip code in now, and start comparing health insurance providers and getting the data you need today?