Group Plans - The Many Benefits
If you work full-time for an employer who offers medical insurance coverage, you will have the opportunity to sign up for the group plan with your fellow employees.
There are many benefits to being covered by group plans instead of finding insurance on an individual basis.
However, there are also benefits to customizing your own individual health insurance if you are not qualified for a group plan.
This may be because you are employed part-time or are self-employed.
In these situations, you have no choice but to obtain individual or family medical insurance because your employer will not provide it for you.
The rates associated with group health insurance plans are usually far more affordable than individual health insurance because employers will pay part of the premium cost as a benefit for working with the company.
The employee pays the remaining portion of the monthly premium to cover themselves and their family.
Another benefit of group plans is that you cannot be refused coverage due to a pre-existing condition that qualifies you as a high risk person to insure.
Because you are part of the group, you cannot be denied coverage which is a huge sigh of relief for many people who are living with chronic conditions today like arthritis, asthma, obesity, diabetes, or even cancer.
However, there are benefits to individual health insurance that cannot be accomplished under generic group plans.
You can tailor an individual or family plan based on your specific circumstances.
With this plans, the employer decides what kind of coverage will be best for the majority of the group.
Unfortunately, this leaves some employees in a less-than-perfect situation.
Generic yet important coverage is offered in group plans in the form of emergency care, dental and vision care, and insurance against injury or accident.
Because the only benefit to having individual or family health insurance instead of a workplace's group plan is to customize the coverage, the main benefit of group plans is to appreciate some level of coverage for a much lower cost than you could ever find individually.
If you in the position to qualify for a group plan, appreciate the easy savings.
If not, then consider the higher amount you pay for individual coverage as a luxury to be able to choose exactly the kind of coverage you want.
Either way, comparing insurance rates online is a great way to find out if you are getting the best deal.
There are many benefits to being covered by group plans instead of finding insurance on an individual basis.
However, there are also benefits to customizing your own individual health insurance if you are not qualified for a group plan.
This may be because you are employed part-time or are self-employed.
In these situations, you have no choice but to obtain individual or family medical insurance because your employer will not provide it for you.
The rates associated with group health insurance plans are usually far more affordable than individual health insurance because employers will pay part of the premium cost as a benefit for working with the company.
The employee pays the remaining portion of the monthly premium to cover themselves and their family.
Another benefit of group plans is that you cannot be refused coverage due to a pre-existing condition that qualifies you as a high risk person to insure.
Because you are part of the group, you cannot be denied coverage which is a huge sigh of relief for many people who are living with chronic conditions today like arthritis, asthma, obesity, diabetes, or even cancer.
However, there are benefits to individual health insurance that cannot be accomplished under generic group plans.
You can tailor an individual or family plan based on your specific circumstances.
With this plans, the employer decides what kind of coverage will be best for the majority of the group.
Unfortunately, this leaves some employees in a less-than-perfect situation.
Generic yet important coverage is offered in group plans in the form of emergency care, dental and vision care, and insurance against injury or accident.
Because the only benefit to having individual or family health insurance instead of a workplace's group plan is to customize the coverage, the main benefit of group plans is to appreciate some level of coverage for a much lower cost than you could ever find individually.
If you in the position to qualify for a group plan, appreciate the easy savings.
If not, then consider the higher amount you pay for individual coverage as a luxury to be able to choose exactly the kind of coverage you want.
Either way, comparing insurance rates online is a great way to find out if you are getting the best deal.
