If your employer offers medical coverage, they may offer compensation
for part of the cost. Your employer may offer
group health
insurance, but you should check for lower rates and better coverage
for individual health insurance.
If my company pays part of my group health insurance premium, how
can an individual health insurance plan be less expensive?
Premiums and coverage are based on the health and health risk of the
insured. Employers must buy group health insurance policies that cover
all employees, including smokers, senior citizens, those with
pre-existing conditions like diabetes, and other risk factors that could
raise the cost of the initial premium. The discount your company offers
you may be offset by the cost of covering other employees that require
more medical attention.
Take control of your medical coverage.
You can also tailor an
individual
health insurance plan to your personal lifestyle. If you have had
perfect sight all your life, you may save money on lowering your vision
coverage. Or if you know a root canal is in your future, plan ahead and
get the right amount of dental coverage. You can also select a plan with
higher or lower co-pays or deductibles.
If you lead a healthy lifestyle, you may be surprised at how inexpensive
an individual health insurance plan may be. You have options, so don’t
simply assume that group health insurance plan is the best one for you.
