Health Insurance

Health Insurance

Health insurance within the United States can be classified as individual and group.  An individual health insurance policy just covers an individual and or their spouse and children whereas a group policy is usually purchased by a business to cover the owners and workers for the business.  Group coverage does not have to cover dependents.

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Group Health Insurance:

Group Health Insurance covers most of the population within the United States.  Small and large corporations will purchase health insurance for the owners and full time workers.  The group can choose to add dental and vision as well as ancillary products.

The rates depend on the health of the group (which will be going away), location, and type of business or SIC code, HMO, PPO, deductibles and co-insurance.

The owners of the business can choose weather of not they want to cover dependents.   Adding dependent coverage can be extremely expensive to business owners but some business owners choose to add coverage to group insurance in order to recruit and retain good employees.

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To get group health insurance, the process is very simple.  A group census along with general company information as well as what type of insurance  requested is all that is needed to run and submit quote to the insurance carriers.  It is best to use a broker as a broker to will be able to bid out on your behalf to multiple insurance companies.

Individual Health Insurance:

Individual health coverage is just as it sounds.  It covers and individual, spouse, and children rather than a group which covers employees of a company.  You can choose a HMO or PPO and deductible amounts.
Individual health insurance helps people who are sole proprietors, dependents, and do not have coverage through their jobs.  Many people work for themselves and are self-employed and they purchase and individual plan to cover an unexpected health issues they may have.

Some places of work only offer group health insurance their employees and not their dependents.  These people usually get quotes and purchase their own policies to give them health insurance coverage.  These plans may seem more expensive than what their spouses pay on a group policy.  The reason being, the employer pays some or all of the cost of a group plan whereas the individual pays 100% of whatever the cost is going to be.


Unlike life insurance, women and children cost more than males and the reason is very simple.  Women and children go to Doctors and hospitals more often than men do.  Most health insurance policies do not quote unisex rates as unisex rates make it hard for the insurance company actuaries to figure out how much to charge their clients.

As always, use a broker who can bid out quotes on your behalf.

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