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Individual Health Insurance & Group Heath Insurance Coverage Casper WY

If you buy health insurance individually, and you are self-employed, a significant percentage of your health premium should be tax-deductible. Read on and know more.

Hitt Insurance Agency
(307) 856-1480
611 E Washington Ave
Riverton, WY
Tegeler & Associates
(307) 362-5655
1125 Pilot Butte Ave
Rock Springs, WY
Blue Cross & Blue Shield of Wyoming
(307) 856-4063
205 N 5th St E
Riverton, WY
Homestead Insurance Agency Inc
(307) 682-5130
1001 S Douglas Hwy
Gillette, WY
Blue Cross & Blue Shield of Wyoming
(307) 682-5001
405 W Boxelder Rd
Gillette, WY
North Wyoming Insurance Inc
(307) 684-2535
98 S Main St
Buffalo, WY
Tegeler & Associates
(307) 332-7610
194 N 7th St
Lander, WY
Blue Cross & Blue Shield of Wyoming
(307) 745-5386
410 E Grand Ave
Laramie, WY
Farmers Insurance Group
(307) 856-4439
113 S 2nd St E
Riverton, WY
Tegeler & Associates
(307) 673-1313
267 N Main St
Sheridan, WY

Individual Health Insurance & Group Heath Insurance Coverage

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What's the Difference between Group Health Insurance and Individual Health Insurance?

It's always you who is healthily insured (this includes your family, as long as you purchase the right coverage). However, you can be healthily insured as part of a group. This is group insurance. The advantage is that, as part of a group, the risk to the health insurance company is spread over the group. Normally, this means that you pay less than what you would pay for individual health insurance. That's why group health coverage is so popular.

So, with group health insurance you are still covered as an individual (or family), but the risk to the health insurance company is spread around the group. However, another reason, that health insurance is usually cheaper, is that a group guarantees the health insurance company more business. Anything that reduces their risk or increases the amount of money they collect in premiums means savings to you.

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Even for very tiny groups, group health insurance policies are often subject to different rules, are more competitive and offer lower prices than individual health insurance policies. As a member of a group, the health insurance company basically considers you 'pre-qualified' and that reduces their risk.

For instance, if you get health insurance through your job that means you are healthy enough to work. For a health insurance company, this is a big plus. They can afford to offer you a lower premium because you are less likely to cost them as much money. Unfortunately, if you are applying for health insurance on your own the health insurance company doesn't have that same assurance - and so the premiums you pay will reflect this.

So, it's well worth it to find a group - whether it is through an alumni association, a trade association or through a professional association. You can also consider the American Association of Retired Persons if you are over 50 and trying to get health insurance. They offer an excellent plan.

Note that even some credit card companies will offer health insurance group coverage.

If you have ...

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Wyoming State Mandated Health Insurance Coverage

Medical insurance benefits that insurers must provide include: audiologist, breast reconstruction, cervical cancer/HPV screening, chiropractor, clinical trial cancer, colorectal cancer screening, dentist, dependent coverage (including newborns, adopted children, noncustodial children or stepchildren, disabled dependent adults), diabetes self-management and supplies, dietician, facility (public or other), licensed health professional, mammography, mastectomy, maternity (including minimum stay), nurse (anesthetist, practitioner, psychiatric), occupational therapist, optometrist, osteopath (D.O.), physical therapistA, physician assistant, podiatrist, professional counselor, prostate cancer screening, psychologist, social worker, speech therapist

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