Description of explanations for health insurance options

1. Different Health Insurance Options<br />The health insurance market can be very confusing, causing many people to worry over questions such as: Is it available? What kind should I get? Which type of health insurance is the most affordable? To start shopping for affordable health insurance go to http://www.SaveOnMyInsurance.com. Let’s start by comparing the two main types of health insurance: Individual policies and group policies.<br />Individual health insurance policy: What is it about? <br />This kind of health insurance covers you (the policyholder), your spouse and your dependents. Generally, an individual health insurance policy is less costly than a group health insurance policy. Here are just a few benefits to having an individual health insurance policy:<br />Can be used to claim tax benefits (see your CPA)<br />More personalized so you are not dependent on an employer<br />You can keep your individual health insurance policy for as long as you pay your premiums; with a group health insurance policy, you run the risk of your employer changing the amount you pay toward the premium, the plan itself or even the existence of the plan (your employer does have the right to cancel it). With an individual health insurance policy, you have more control.<br />Group health insurance: What is it about? <br />The most preferred type of health insurance is typically group health insurance. Most commonly this means an employer based group health insurance. Through a person’s job, he or she can receive health benefits for themselves as well as their entire family. Here are two benefits to a group health insurance policy: <br />Can be affordable because employers pay a portion of the premium<br />Can’t exclude beneficiaries based on age or pre-existing conditions<br />Although there are other kinds of group health insurance than just the employer-sponsored kind. If you are self-employed and head your own company, you can look into purchasing a group policy for your employees; there is also association-sponsored group health insurance coverage (for example, receiving health benefits as a member of a union).<br />State-sponsored health insurance: What is it about? <br />Most valuable to low-income families, the unemployed, employees who don’t benefit from a group plan and senior citizens, state-sponsored health insurance programs include Medicare and Medicaid. These programs assist lower-income individuals and families. Requirements vary from state to state. Here are a few benefits of government-sponsored health insurance:<br />Usually a less expensive option or free<br />Will not deny coverage based on pre-existing conditions<br />Helps to reduce out of pocket costs <br />Many plans can be customized so be sure you know what each kind of policy offers. Most importantly, know what coverage you and your family need to maintain your health. That will help you determine whether an individual, group or state-sponsored health insurance policy is best for you. Get the lowest rates on a new policy by clicking on http://www.SaveOnMyInsurance.com<br />