• November 9, 2018
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Employer Health Insurance vs. Individual Plans: Which is Better?

When you look into different health insurance plans or life insurance Woodland Hills CA plans, you may want to consider options outside of your employer-sponsored plan. An employer health insurance policy differs from an individual plan, but identifying the option that is better for your needs will depend on the options your employer provides.

Group Policies

An employer health insurance policy is a type of group policy. That means it covers a variety of individuals in the company. It diversifies the risk among a group of people.

Group policies have a few key benefits. Since it covers a larger group, your employer and you get special rates. You may have a lower out-of-pocket cost or monthly cost associated with your coverage. Your employer also pays a portion of the cost, which may help if your family has any health concerns to address.

Individual Plans

When you want to consider individual plans, you will want to work with a Los Angeles insurance agency. An agency helps you find the right plan based on the needs of your family. Individual plans are ideal when you do not expect a large number of medical costs. For example, if you are young professional with limited risks of health complications, then you may decide to consider an individual plan to help cut costs. A co-worker with a family may find that individual plans are a little more expensive or do not provide the coverage they need for their family’s health.

The best option for your health insurance depends on the needs of your family. If you need a low-cost policy, then group plans may offer a better solution. If you have specific needs that your employer’s policy does not cover, then an individual plan may work better for your goals. To learn more about health insurance options or for a free quote on an individual health insurance plan, contact Absolute Value Insurance today.