Individual Health Insurance Policies Explained
There are two kinds of health insurance policies in the United States, and they are group health insurance policies and individual health insurance policies. Group health insurance is health insurance that is offered by an employer, when an employer pays all or a portion of the employee’s health benefits. This is called a group plan as the employer will get rates based on the group, rather than the individual. As such, these plans are often cheaper for the employer, but the employee may still be out of pocket. Today, more and more people are taking their health care into their own hands, and purchasing individual health insurance policies. This gives them more control over their health care choices, but the cost of individual health insurance policies is preventing many Americans from being able to take advantage of this
There are pros and cons to going with a group plan over an individual plan, and pros and cons for choosing an individual health care policy over a group plan. If you don’t have an employer paying for some or all of your health care, then you don’t have the option to go through either of those pros and cons. But even if you do, considering an individual health care policy may actually work out better for you in the long run.
Most Americans will choose group plans when they can because of the cost factor alone. Because individual health care policies are based on the individual needs, you will not see the same discounts you would get with group rates. So individual health care policies will always be a little more expensive. Not only that, individual plans are becoming more difficult to get, as insurance companies are routinely denying Americans for individual health insurance due to pre-existing conditions, lapses in their current coverage, or for any reason that insurance companies deem negative.
When you look for quotes on individual health care policies, what you are doing is taking your health care into your own hands, and taking control over the health care that you expect and you want. This may down the road end up costing you a little bit more, but there are always ways to reduce health insurance costs, even on individual health insurance policies. The bottom line will always be determined by you.
When it comes to considering individual health insurance over a group plan, cost should not always be your deciding factor. This is especially true if you or any member of your family uses health care frequently or needs medication or prescriptions on a regular basis. The last thing you want is to be committed to a group plan, only to find out when it’s too late that “that surgery” or those imaging tests are not covered. And you won’t find out until you are given the bill. Your health care is your responsibility, whether or not you have an employer willing to foot part of the bill. So to ensure you meet those responsibilities, it is always best to shop around, compare quotes, compare policies, and ask questions that meet your needs. You CAN get individual health care policies today that you can afford, you just have to do your homework.