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If you’re a full-time worker in Somerset, KY, chances are you’re covered by an employer group health insurance plan. However, some people question whether employer-provided plans are any better than opting for individual insurance coverage. Because this topic is complex, Toohey Insurance Service provides the following insights.

Individual Health Insurance Plans

If you’re searching for customizable coverage, an individual plan might be a good option. Because you are free to pick and choose your healthcare options, you might end up paying less than you would through an employer, provided you are relatively healthy. If you have a lower income, you may qualify for government subsidies, which will bring costs down even further. Additionally, you can rest assured that you’ll still have health insurance even if you end up losing your job.

Employer Group Health InsuranceIf you have a family, securing affordable individual coverage is usually more difficult. This is especially true when one or more of your family members have significant health care needs or a chronic condition. In this case, you may find you’re ineligible for the coverage you want or that the policies you qualify for are exorbitantly priced.

Employer Group Health Insurance Plans

One of the biggest benefits of employer-supported plans is they tend to be more affordable. Some employers will even cover the costs for premiums, or at least cover a large percentage of these costs. Employer plans also tend to be more flexible in terms of the coverages offered. For instance, with this type of insurance you can usually choose from an HMO, which entails a specific network of doctors and hospitals, or a PPO, which allows you more control in who you see for medical care.

A downside to this type of insurance is that it’s only available while you work for a specific employer, meaning if you lose your job you’ll need to secure coverage once again. Premiums are also on the rise for group plans, which has led many employers to push more and more costs onto workers. You’ll also be limited to the plans provided by your place of work.

If you’re trying to decide between employer group health insurance or an individual policy, the team at Toohey Insurance Service is here to answer your questions. They offer plans for individuals, business owners, and people with chronic or preexisting conditions. If you’d like to speak with an insurance agent about your needs, call (606) 678-0540. You can also visit them online for more information on the services offered.

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