BEAUTY KLINIC

Are you looking for the confidence to figure out on your own if Individual health insurance is a better option for you instead of you Employers Group policy? Well, this article will answer many of your questions. You will be able to make an informed decision based on the pros and cons you find here.

The main reason consumers think about going to individual health insurance through a private health insurance company versus their employer group policy is because of the increasing cost of group premiums. Many times your employer pays a portion or your entire premium, but pays nothing for your dependents.

Individual health insurance premiums are typically more affordable then group premiums. This rule is not true for everyone however. Carriers set rates according to factors such as age, location and medical conditions. So if you or your dependent is 55 and has a few medical conditions you may get the best rates through the group policy.

There are times Group Insurance can end up cheaper and your only option. If you have a medical condition that is causing the individual carrier to significantly increase your rate or refuse coverage Group is the way to go. Group Insurance can not decline you coverage based on your medical condition.

One of the pro’s to going with individual health coverage is the freedom to choose a plan that suits your needs best. Carriers offer a huge array of different plans for you to choose. They have catastrophic plans, plans that allow office visits for a small fee (co pay) and even tax compatible plans called HSA’s.

When an employer offers group insurance, they pick the carrier, the plan and the benefits. In addition they only allow changes or additions to your policy once a year. You have no freedom to choose. They can change the carrier or plan anytime they wish and you may be forced to find a new provider.

Employer group policies usually just cover medical. Vision and dental may be offered from your employer, but usually as a separate cost, separate plan and different carrier. With individual health insurance many of the carriers offer bundling. Which means you can have medical, dental and vision in one plan and one rate.

You should now be equipped to thumb through your pros and cons of the two options and make a smart decision. Think about what you need and desire. And what you can afford. The you will be able to make a good choice.

Tags: Fitness, health, health insurance, individual health insurance, insurance

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