by Jeff Cline

The pros and cons of Group versus Individual health insurance are easy if you know a few basic things. Below you will find those answers, equipping you with the knowledge to decide which the best option for you is. There are a few things to consider when compiling your list of pros and cons.

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.

An individual insurance is based solely on you and your family instead of a group. What this means is that they look very closely at your health condition. If anyone in the family has a health condition it affects the outcome. Rates could increase, condition may not be covered or the insurance company could decline coverage for that individual.

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.

As you can see there are many factors you should ponder before deciding which option is best for you and your family. You should take some time to think about your budget, medical conditions and what is important to you.

About the Author:
Agent Jeff Cline wants to help you with your individual medical insurance needs. We also offer Individual Health Insurance depending on your needs. We also specialize in Family Health Insurance. Contact us if you have any concerns, we are eager to help you with your needs. We are here 365 days a year. Our toll free number is 866-526-9669.

Related posts:

  1. Group Vs. Individual Health Insurance
  2. Customizing Health Insurance Plans To Save You Money
  3. Weighing The Options: Group Or Individual Health Insurance?
  4. Individual Health Insurance Is Just One Of Many Kinds
  5. Individual Health Insurance Policies Require A Little Finesse

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