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Posts Tagged ‘individual health insurance’

There are Pros and Cons to buying individual health insurance versus accepting your employer group plan. In order for you to make an informative decision we will touch on some of the main pros and cons in this article. By reviewing these pros and cons you should be able to make a decision with confidence that you have thought through thoroughly.

On a group policy it is often difficult to afford coverage for dependents, because the employer does not pay a portion. Even your rates can be expensive if you employer does not share much of the cost for you or the plan they offer is very expensive. With the rising cost of health insurance these are trends we are seeing.

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.

If you are eligible for Group insurance and you have a medical condition then most of the time Group is the favorable option. See where individual insurance can base rates and coverage on you as an individual group can not. They must cover you even if you have a significant health condition.

Many major health insurance companies are offering health insurance plans to individuals. It use to be that we depended on our employer to meet that need. With the high cost of group premiums that is not longer the case.

Carriers have stepped up to the plate with some affordable and flexible options for the individual health insurance shopper. They have paid attention to the demand and what consumers are looking for. They have many budget friendly plans as well.

An advantage to having an individual health insurance plan is that you can take it with you from job to job. And since people do not stay with the same companies for decades any longer this is convenient. And you can custom fit the plan to your needs. No more one size fits all plans that the employers offer.

The majority of consumers like the PPO plans. These plans give freedom to choose your physician. You decide when you see a specialist, not your primary doctor. If you go to physicians in the network you save money with negotiated rates.

You should start by narrowing down your choices. There are many. Hop on the internet and start surfing. you can find rates and compare plan offerings. The internet is a very beneficial tool when shopping for individual health insurance.

One of the big political tennis balls being bounced around Washington these days is the issue of health care coverage for Americans. After a while, listening to the debate gets tiresome and maybe a little irritating, but there seems to be an important factor being left out. Unmarried adults. We always hear about the need for families to have health insurance, especially when young children are involved, but we almost never hear of the twenty and thirty-something singles.

What if we started saying as part of the debate, “Young, working, single adults need to get individual health insurance today.” What would be the reaction? I’m not sure, but I do know that there are millions of people in this category who are new to the work force and are working jobs with less than stellar benefits. For most entry-level positions, individual health insurance is not part of the package. In cases where it is, the coverage may be minimal as a way of keep employer costs down. It’s not uncommon for the kid fresh out of college to take his first job and not have health insurance.

Quite often, young people in their twenties and thirties aren’t very concerned that they don’t have health coverage. After all, they are in the prime of their lives with minimal responsibilities and filled with optimism for the future. Their health is not a concern and they’re used to rebounding quickly after a routine cold or flu. Chronic disease or debilitating injuries don’t seem to be on their radar, as they consider those things usually to be reserved for older people.