source : health-insurance.suite101.comGroup health insurance and individual health insurance are the primary types of insurance available to people in the United States. With group health insurance a person’s employer pays a portion of the insurance in conjunction with the employee. It’s called a group plan because the rates are based on a group (the group of all employees), rather than an individual. Conversely, individual health insurance premiums are based on an individual, or the individual and their family members.
Cost of Individual Insurance Plan
The cost of an individual insurance plan to the consumer versus the cost of a group plan depends on the amount of the premium that the employer is paying. There are circumstances when the employer pays such a large portion of the insurance premium that the group plan is less expensive to the employee. However, in most cases the individual insurance plan would be less expensive.
The caveat is that individual insurance plans can be very difficult to obtain. This is because insurance companies routinely deny people who have preexisting conditions, lapses in health insurance coverage, or any other circumstance that the insurance companies view negatively. Consequently, individual health insurance providers get to “cherry pick” those who they prefer to cover. ...
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