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.
It is no secret that health insurance rates are raising. So it is no surprise employers are not sharing as much cost for our group health insurance. They usually never cover our dependents. Dependent rates can be very high. And if they only cover a small portion of our coverage the rates are still unaffordable at times.
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.
If it is freedom you like, than an individual plan is probably a good choice. They have many plans, many benefits and many customizable additions. You just pick and choose, find what suits your needs and get what you pay for. No more, no less.
How would you like to be told what benefits you will have, which providers you can see and how much your going to pay. With group insurance this is what you get. You do not get the freedom to decide these factors. You can not even add a dependent unless it is the right time of the year.
Individual carriers offer bundling of benefits which make it really nice. For example, say you would like medical and dental coverage. You can bundle them as a package and pay one premium. They often offer vision, life and maternity as an add on as well.
You have much thinking to do now. You have to decide what is important. You now have to tools to make a good decision. Don’t sell yourself short or be locked out of a good thing. Your needs should be tops when making this decision.
Tags: Individual Health Insurance, Health Insurance, Fitness, Fitness
