Group Health Insurance VS Individual Health Insurance | Pros & Cons

iStock_000014103014SmallMore people are having to switch from group health insurance to individual coverage as fewer and fewer employers are able to afford providing health care insurance for their workers. And as the world’s geriatric population continues to explode, it costs more and more to insure, and ensure, their health. All diseases are at all-time high rates, in almost all countries. Economies are suffering to the points of multinational bankruptcy. And in the midst of it all, the common citizen is just trying to maintain health; to stay within the lines of governmental-mandated health care responsibility.

As fewer employers are offering group health insurance coverage to their employees, there is an ever-increasing demand for individual health care coverage. For instance, in the US, citizens are now being charged heavy annual fees, off their tax returns, if they fail to maintain adequate health care coverage throughout the year. This is a blatant form of societal manipulation that is sparking planetary rebellion. Yet still, the laws of the lands are dictating that people provide their own health care coverage – or face an array of possible societal punishments. So if you don’t have health care coverage through your employer, you should begin to explore your options for individual health care insurance. How do they differ?

Group Health Insurance VS Individual Health Insurance

Group health insurance is what most of the world’s workers are covered by. This type of insurance is paid for by your employer. It is considered a very safe bet by insurers because they know that, statistically, they will have to pay out a very small percentage for each contributor in the long run. The insurance providers know that this is a proven profit model, and therefore they offer rock-bottom premium pricing. Because of this, it is difficult, if not impossible to find lower premium rates on health insurance. Group health insurance is cheaper than individual health insurance because the insurers can leverage the power of large policyholder numbers to make profit gains, unlike they can with individual coverage policies.

Individual health insurance is generally more expensive and less inclusive than group health insurance coverage. Some common group plan benefits will be absent from individual policy small print. One disadvantage to individual coverage (besides the higher premium rates) is that the insurer is required by law to offer the same coverage parameters to every member of a group plan. But as an individual, or and individual plus dependents, the insurer is not required by any laws at all to grant your coverage requests.

That means you’re going to pay more – if coverage is offered at all. Pre-existing medical conditions are a huge factor in obtaining individual health care insurance. It goes on and on, but here’s the basic truth:

Governments, in their respective jurisdictions, want to receive money for every single human, who currently requires, or may ever require, health care services. This is not a joke. The truth is that, if you want to be covered with comprehensive health insurance benefits, then you should get a job working for a company that provides group coverage plans.


Comments

Group Health Insurance VS Individual Health Insurance | Pros & Cons — 1 Comment

  1. Yeah but the government sends a mixed message. To “grow” the economy back to acceptable levels the small and start up companies must lead the way. BUT these same companies may not have to offer healthcare based on Obamacare guidelines and if they chose to offer insurance it is often an inferior product. Add to this fact that more and more large companies and municipalities are looking to cut costs by upping deductibles and declining to cover spouses and dependents without significant premium increases. So the picture is clouded by government which mandates coverage BUT scratches it’s head as the economy falters and wonders why the “consumer” is not an active participant.

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