Health insurance ensures that you get the medical attention you need if and when you are sick. There are advantages to having an individual health insurance policy customized to your specific needs. Buying a policy on your own will allow you to cover events that are excluded under a group policy.
The following are four advantages of having individual health insurance.
- Discounts and Price
Most individual health insurance policies are already cost-effective. They are more affordable than group policies in most situations. Not to mention, you may qualify for a tax credit which means your health insurance premiums are deducted before tax calculation. You may also qualify for discounts if you have a gym membership or are a non-smoker.
- Personalized Coverage
Individual plans are much easier to personalize than group policies. Group policies are designed for a group of employees and take into consideration a more extensive list of variables. An individual health insurance policy only deals with your information and specific coverage needs. With an individual policy, you may be able to choose a higher deductible in return for lower premiums.
- More Flexible
Group policies often have restrictions that can make it difficult for your employer to provide you with affordable, effective health care coverage. If you buy an individual policy, there are fewer requirements to deal with, and you don’t have to worry about meeting a minimum requirement. In addition, paying for your own policy puts you in control and allows you to take advantage of more benefits.
- Easy to Move Around
When employees have their own insurance, they can take it with them if they leave their current job. If you like the insurance you have from your employer but don’t like all of the added restrictions, see if they will let you pay for your policy without their matching contribution. This puts you in control and allows you to take your policy with you.
If you are looking for affordable health insurance, contact us at Steve Wilk Insurance Agency today. We can help you choose between a group policy and individual policies that can be customized to your unique coverage needs.