Credit Control: Tips For Managing Your Money

Credit Control: Tips For Managing Your Money

Exploring The Benefits Of Group Health Insurance Vs Independent Insurance Plans

Levi Bradley

With the cost of health insurance consistently rising over the past several years, you may have found yourself wondering whether or not the group insurance plan your employer has to offer is really worth the investment. If you have found yourself questioning whether you would be better off purchasing your own independent insurance plan, taking a moment to explore the benefits associated with your current group plan versus an independent plan can help you to determine which of these options is truly right for you.

Group Health Insurance Plans

There are many benefits that come along with subscribing to a group health insurance plan. For instance, when participating in a group plan, you never have to worry about your coverage being cancelled or your rates going up due to a health crisis in your life. Furthermore, you will never need to worry about being denied coverage as long as you remain part of the insured group.

Group insurance plans also offer you the benefit of easy access to affordable insurance rates. Since group rates are based upon the total number of people in the group and the amount of coverage provided rather than individual risk factors, such as your medical history, these policies will often come with considerably more affordable rates than individual plans.

Independent Health Insurance Plans

While independent health insurance plans can be more expensive, they can also prove more beneficial for some people. This is because when you choose to purchase an independent health insurance plan, you will be in complete control of what coverage options your plan includes. This can be especially important if you are planning to undergo an expensive procedure in the near future that is not covered by your current group policy.

Purchasing an independent plan will also give you the ability to shop around for a new plan at any point in the year rather than waiting for an open enrollment period to start for your group plan. Consequently, short term policies will often prove ideal for individuals who are temporarily without coverage while they wait for the opportunity to join their employer's group insurance plan.

In Conclusion

While purchasing an independent health insurance plan will prove beneficial for select people, most people will find that a group insurance plan is the most beneficial option they have available to them. However, if you truly wish to ensure you are enjoying all of the benefits a group plan has to offer, you must remember to always participate in any surveys or other decision making opportunities that your employer provides you with. Participating in these opportunities will ensure that you and your co-workers are being provided with the best group plan, from places like Fiscal Fitness, for your particular needs.


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About Me
Credit Control: Tips For Managing Your Money

When I got my first credit card, I had no idea how to manage my money. I made a lot of mistakes that I later regretted and had to spend many years rebuilding my credit. I didn't realize that even one mistake can cause serious damage to your credit score. I did a lot of research into money management and credit repair options and put the effort in to rebuild my credit. This site is a compilation of the things that I've learned and the steps that worked for me. Hopefully the information here can help you to avoid some of the struggles that I faced.