Employee health insurance plans are usually part of a large pool of policy holders which brings cost down. When an individual purchases a policy outside of the employee realm it can put them in a very disadvantages state. Insurance premiums are high enough – so it is of paramount importance that anyone getting an insurance quote make sure they are part of a group.
A major health insurance company announced rate increases in California to as much as 39%, to some of its policy holders, by March 1, 2010. Many policy holders in Maine have received notice their health plans will increase about 24% and some Oregon policy holders 15%. These increases are after hefty rate hikes last year.
Having Several Choices of Health Insurance to Choose From is the Key
to having at least some leverage in monthly premium amounts. The difference of cost can be hundreds or even thousands of dollars over the course of a year. With the controversial governmental healthcare plan failing people are now scrambling to find affordable health insurance options. Approximately thirteen million American citizens purchased their own health insurance outside of the employee business group plan in 2008.
These individual markets can be extremely expensive because they are often not part of any business group. Often but not always. If searching in the individual market ask for policies that may be part of a group not usually offered OR make sure there are several insurance companies to choose from. If you can find both of these scenarios at once then you may be in the drivers seat to getting an affordable health insurance plan.
Keep This In Mind
The “individual market” just means that you are purchasing outside of the employer group market. These policies usually still have family plans, student plans, dental insurance and as mentioned may actually have another type group plan option. Quotes are free, so the internet services that provide them should be used – with no obligation until you feel comfortable with your decision. Competition for business is fierce, so getting multiple quotes can benefit the consumer.
With health cost escalating there may not be a better time in the future to get an affordable plan. It is questionable if one can be found now if it is indeed an actual health insurance plan. Discount plans abound that are not insurance plans but are affordable benefit plans at a lower cost. Some of these plans have a smaller provider base and often do not cover everything an actual insurance policy will cover.
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