Let us face it, health insurance quotes and prices have skyrocketed! Group health plans have taken the brunt of rising costs for years now.
If you are employed at what is labeled a “small business”, you have probably already witnessed the high rate increases that group health plans have suffered. Small group plans suffer the most unfortunately with experiencing the most dramatic increases with costs. What is the reasoning for these high health insurance rates? It is because any claim filed by anyone in the small group affects the entire group. It is not entirely the fault of your boss for he or she is probably feeling even more pain with this scenario. When any employee in the small group has major medical conditions, the entire group pays with rising costs when claims are filed.
If you work for a small business, the only way you will be able to have affordable insurance is to seek it on your own. There are individual health care plan available for you and your family. These types of plans are at lower risk of increasing rates because consumers have to qualify with good health in order to be accepted on these plans. The rates for these plans tend to prove more affordable.
If you find yourself in a group insurance plan, it is highly recommended that you strike out on your own and seek affordable healthcare insurance quotes. Many consumers have chosen to leave their group plans searching for more affordable options for their families.
Benefits of purchasing individual health care plans:
1. They cannot simply cancel you for no reason
2. Many choices of benefits to choose from
3. Will not increase your health insurance rates because of filed claims
If you elect to purchase an individual plan, you can rest assured that the plans can easily be carried over if you lose your job, retire or even if you are laid, off. These plans offer affordable health insurance quotes. The coverage can continue which is a better option than the “COBRA” option, which proves expensive. You should be aware that most individual plans would not cover pre-existing conditions so if this applies to you, it might prove beneficial to you and your family to remain on a group health insurance plan with more affordable health insurance rates through your job.