When you do not have the option of group health insurance you may have only one choice to still have the health coverage that you need. That choice is to find and purchase individual health insurance.
Individual health insurance can be relatively inexpensive for persons who are under age forty. In fact, you may find that you pay less for individual insurance than you would pay for group health insurance. That is because group health insurance is based on an average cost for all participants All participants then pay all the same price for the insurance. For many people with group coverage, the employer pays all or part of the insurance.
Once you pass age forty, you may find that you are paying more for individual health insurance than you would pay for a group plan.
If you have health problems, you may not qualify for individual plans, but group plans must accept you. Many states have assigned risk pools that can provide individual insurance for you. The cost for this coverage may be more, but you will be able to get the coverage you need in order to qualify for the medical care that is needed.
By increasing the deductible on your health insurance plan, you can lower the premium payments. That will mean that you have to pay a larger price if you do have to go to the hospital. In fact the additional cost is often more than the difference in premium. Therefore, you should see which option really makes the most sense for you before you sign up for the insurance. Also be sure to see the difference that the lower premium makes in insurance coverage for you.
If you employer does not pay for health insurance, then individual health insurance is a much better option than taking the risk of having overwhelming medical bills when you become ill.
Author Resource:
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