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You have two choices when it comes to health insurance: group coverage and individual policies. But which is better?
Below are three questions about group and individual health insurance Texas residents ask. The answers might help you make your decision.
1. Should I Choose an Individual Policy or a Group Policy?
If your employer offers an affordable group policy and you’re eligible to enroll, enrolling with that plan might make more sense than to purchasing individual health insurance. Texas employees need to consider the cost and coverage of each plan before making a decision.
2. Aren’t Individual Policies More Expensive Than Group Policies?
Group health insurance policies are usually less expensive than individual plans; however, this is not always the case – especially if you work for a fairly small company or your employer only offers one or two plans
Before you sign up for your employer’s group health insurance plan, browse a few carriers that offer individual health insurance. Texas residents who work for companies that offer expensive group health coverage might be able to find insurance carriers that offer individual plans for less expensive prices.
3. What Happens If I’m Denied Health Coverage?
Employees of companies that offer group health insurance plans are rarely denied; however, it does happen.
For example, the health insurance carrier with which your employer does business might not off any coverage – or, only limited coverage – to employees with certain health conditions. Too, if your employer only offers health benefits to full-time employees and you only work part-time hours, you can’t take advantage of group health benefits.
If this is the case for you and you don’t have a spouse with a health plan you can join, you should look into purchasing individual health insurance. Texas fortunately has many health carriers to choose from!