Employer Based Verses Individual Pay Policy Benefits

If it is rate quotes you are looking for, you can easily use the internet. You can also find some insurance policies that are really good ones, but they pale in comparison to one that is available from an employer if that is a option for you. Regardless of what the rumors might be saying these policies are not going anywhere, anytime soon.

Employer based health insurance have experienced cutbacks due in fact because employers had to reduce the amount of coverage and limiting the provider choices for employees to reduce health insurance costs. But even with these cutbacks, the employer based health insurance is still the best way to enjoy the benefits of a group policy that is affordable.

Employer based health insurance plans have several very big pluses that you must be aware of to truly understand why this type of coverage is so far superior to an individual insurance plan. First, they tend to cover maternity care for all and this is something that you won't find included on most private pay plans. It will cost you quite a bit extra to purchase this insurance separately and usually comes with a wait period as well. When included in a group health insurance plan there usually is little to no wait period at all.

A second and third benefit associated with a group plan is the significant discounted price of the health insurance coverage. If the risk pool is large, the premium will be smaller; quite different than other policies. Also, a third benefit is the extras like the more than half out of pocket premium paid by the employer that is very significant over the course of a year. The monthly saving alone on these premiums will add a nice supplement to your monthly salary. The group plans just have more and better benefits as well as put money back into your pocket, by not taking as much out like other plans want to do.

There is a fourth benefit that has been added recently to cut the health insurance premiums for everyone, including your company. This benefit is the introduction of a Health Risk Assessment and every employee is encouraged to take advantage of the premium saving this benefit has to offer as well. The HRA's only need to be completed annually and the little extra efforts that this requires will add up to some serious savings for you, your family, your company and insurance company.