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Group Health versus Individual Health

Health insurance is currently big in the news. The premiums are high and the benefits are low. The deductibles are big and the network is small. And though the talk may be loud, nothing is happening, yet.

So the question remains, as your broker, what can we do?

We cannot change the premiums, laws, or benefits. However, we can inform you about the availability of different plans and networks. We can definitely enroll you in the most suitable health plan to accommodate your needs.

When considering your health plan options, the first decision will be whether to sign up with an Employer Paid Plan or Individual Plan. Below is a concise overview of both options.

Employer Sponsored Insurance

Although the benefits may vary with different plans, better benefit options are available with the Employer-Group Market. The benefits listed below can only be obtained with an employer plan.

  • Out of Network coverage

  • Out of State coverage

  • No Referrals

  • Broad Network

A business will only qualify for group insurance if there is a minimum of two full time common law employees employed at the business. Participation requirements vary between the different carriers. However, some carriers allow group enrollment with just one-member participant.

At Gluck’s Insurance Agency, we can evaluate your business set up and determine if you qualify for a group health plan.

Individual Insurance

Individual health insurance is available to anyone seeking private health insurance. It is ideal for part time employees and sole proprietors who do not qualify for group insurance. Coverage can be obtained each year at open enrollment. This year open enrollment will run from November 1st to December 15th. Mid-Year, outside of the open enrollment period, individual insurance can only be purchased if the individual has a qualifying event taking place at that time. Are you still unsure what your best option is?

Contact Gluck’s Insurance Agency for a consultation and we will provide you with the best coverage options to accommodate your needs.

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