There are two major forms of health insurance in the US: One for individuals, and one for groups.
Individual health insurance is insurance that is purchased by a single person on behalf of themselves or the families that they belong to. Some people mistake individual health insurance as insurance only made to accommodate one person at a time, but that is not what it means entirely. While growing up, chances are that the insurance your parents had for you was individual health insurance.
Group health insurance is health insurance that is specifically made for companies, which they buy for employees that are on their payroll. These plans are not exclusive to businesses, as anybody is capable of buying them. This group health insurance coverage can either be self-insured coverage, set up by the company, or can go with individual plans, where the individual insurance provider can cover as much as possible on any major billing rates, and then the group insurance provider can take care of what is leftover.
After learning about some of the comparisons between individual and group health insurance, you will learn more about insurance planning than the average American.
Individual health insurance Arizona or any state has to offer, for that matter, is extremely cheaper than group health insurance; for the cost of a group health insurance plan, you could buy two individual health insurance plans.
With a group health insurance plan, every employee that applies for it will be covered, and there is little to no chance that an employee will be denied due to pre-existing health conditions. Almost all group health insurance plans will not cover pre-existing conditions from the start, for there is usually a delay for coverage if you already have an individual health insurance plan for yourself. As long as you do not have any lapses in coverage, you will be approved for your company’s insurance plan right away.
When looking for health insurance, do not look for the cheapest coverage possible; you want to have the best coverage for when you need to pay for serious medical expenses. Even if you find a great deal on medical insurance, it can still cost you money out of your pocket for something like surgery needed to get done.
If you do not know where to turn for health insurance, talk to a trusted specialist about individual health insurance Arizona or the state that you may live in can offer you. He or she can help you pick the best plans from all kinds of local and nationwide insurance companies.
Whether you know of a big insurance company around the state of Arizona, or an even bigger conglomerate know across America, either one is trustier than your typical companies that air late at night infomercials that promise you a crazy deal on insurance.
It is also more than necessary to research companies online so that you can eliminate insurance providers that you might have doubts about, and narrow down your search in finding a reasonable plan from a trusted insurance provider.
If you have individual health insurance and are eligible for group health insurance, consider putting yourself under the company’s group health insurance plan if:
- The employer is paying for most or all of your premiums.
- The employer is paying for most or all of your premiums, but will not pay for your spouse or children’s premiums, and if your spouse and children are mainly healthy.
- If you have serious health problems, such as cancer, heart attack, or conditions requiring multiple medications.