Health insurance becomes a huge consideration when you have a family.

In fact, health insurance becomes one of the first considerations regarding job offers. When you're 40, married and have children, your health insurance needs are very different than that of a single and healthy 25-year-old.

Choosing the Right Health Insurance for Your Family

First of all, you will pay more for health insurance than you would in the past. There's no getting around that. However, going without insurance could have horrendous consequences for your family.

If your employer only offers one plan, then your decision is simple.

If both you and your spouse are working and eligible for benefits, compare the plans available. Choose the plan that offers the best coverage, the best quality and the most convenient locations.

If you're employer offers tiered-benefits or a defined contribution plan, then the type of health insurance you should choose will depend on:

• Your yearly health care expenses and what you can afford
• The quality and reputation of the plans offered
• The size of your family
• The health of your family members
• How well you and your spouse understand the healthcare system and your coverage
• Expected pregnancies
  

Additionally, make sure you have appropriate vision and dental coverage for your needs. Paying more for premiums could save you out-of-pocket expenses. If your employer does not offer vision or dental coverage, take advantage of Flexible Spending Accounts (FSA).

Popular Plans for Families

Indemnity (FFS). This type of plan offers the greatest freedom. Today, this option is too expensive for most families. But, if someone needs to see a specialist that does not participate in the managed care network offered by your employer, or you want the power to select your own physicians and hospitals, this is the best option.

Managed Care. This includes HMO, PPO and POS plans. HMO plans are almost always the most affordable option, but they limit your choice of physician and hospitals. PPO and POS plans are more expensive, but offer more choice. Because of their affordability, managed care plans are probably the most popular form of coverage for families. These plans are great for large families, people that need ongoing care and those interested in preventive care or well-being programs. However, be sure to check out the reputation of the plan being offered. And, if you are expecting children, be sure to research your options for Ob/Gyns and Pediatricians.

Health Savings Accounts (HSA). If you are a young, healthy couple, this is a great option. But, if someone requires ongoing medical treatments, or your kids get a lot of colds and flus, you can quickly watch your savings disappear. These plans aren't for low-income families, as they may have trouble coming up with money for the deductibles, and could dangerously forego needed medical treatments. In 2007, the IRS mandated minimum deductible for family coverage is $2,200.