Updated Jan. 12, 2018 11:04:49 Most family policies offer coverage of up to $500,000 in total costs and, for the majority, you can get a $500 deductible.
But that’s where the competition begins.
A new report from the National Association of Insurance Commissioners finds that the top five policies in 2018 offered the highest deductibles, with policies offering the most coverage in the top 10, followed by the bottom three.
(See the top 5 best insurance plans in 2018.)
The bottom two are both for family policyholders who cover a minimum of $1 million.
All three have coverage for a maximum of $500 million, and all three are for coverage with deductibles that average more than $2 million.
The top five most popular policies by total cost in 2018 are: Aetna’s family policy for $100,000, a policy from UnitedHealthcare for $50,000 and the UnitedHealth Group’s premium for $30,000.
Aetas is a family policy with a maximum deductible of $5 million and a minimum deductible of up $100 million.
For a maximum coverage, Aetans family policy covers a maximum $2.2 million in total out-of-pocket expenses and the $100 plan will cover a maximum out- of pocket of $2,500.
UnitedHealth is a $5,000 family policy that covers a minimum out-pocket of $3 million and the maximum deductible is $2 billion.
All of these plans have deductibles averaging more than a million dollars.
All are available to policyholders with incomes above the federal poverty line (FPL).
The top-rated family policy, Aventis Platinum Life Insurance, has a maximum deductable of $50 million and its maximum out of pocket expenses are $50 billion.
The plan with the lowest deductible is the Anthem Gold Life Policy, which has a $10,000 deductible and an out ofpocket maximum of less than $3,000 per person.