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Individual Health Insurance & Group Heath Insurance Coverage Evergreen CO

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.

KAISER PERMANENTE- KEN CARYL
(303) 338-4545
7600 Shaffer Parkway
Littleton, CO
 
Brown & Brown Insurance of Colorado
(720) 963-4244
7110 W. Jefferson Ave., Suite 100
Denver , CO
 
Colorado Health and Life
(303) 997-7189
9242 W Louisiana Avenue
Lakewood , CO
 
West Denver Dentist
(720) 763-9070
7575 West 20th Avenue
Lakewood, CO
 
Carver & Associates
(303) 420-1637
7710 Ralston Rd.
Arvada , CO
 
KAISER PERMANENTE - WADSWORTH, LITTLETON
(303) 972-4500
5257 S. Wadsworth Blvd
Littleton, CO
 
Associated Agents
(303) 238-7341
1970 Kipling Street
Lakewood , CO
 
Strategic Alliance Financial Group
(303) 870-9142
494 Sheridan Blvd., Suite B-206
Denver , CO
 
Wealth Strategies Group Guardian Life
(720) 334-7115
13545 W 67th Place
Arvada , CO
 
LIFEHEALTH
(303) 730-1902
5554 S. Prince St. #131
Littleton, CO
 

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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Colorado State Mandated Health Insurance Coverage

Medical insurance benefits that insurers must provide include: acupuncture services, alcohol and drug abuse treatment, audiologist, autism, birthing center/midwife, breast reconstruction, cervical cancer/HPV screening, chiropractor, cleft lip and palate, clinical trial (cancer), colorectal cancer screening, congenital defect, dental anesthesia, dentist, dependent coverage (including newborns, adopted children, dependent student/adult, non-custodial children or stepchildren, disabled dependent adults, domestic partner, civil union), diabetes (self-management and supplies), early intervention service, emergency room service, fetal alcohol spectrum disorders, hearing aids for minors, home health care, hospice care, HPV vaccine, licensed health professional, mammography, maternity (including minimum stay), mental health, nurse (including nurse midwife, nurse anesthetist, nurse practitioner, psychiatric nurse), optometrist, oral surgeon, orthotics, osteopath (D.O.), pain management specialist, PKU/metabolic disorder, podiatrist, prosthetics, prostate cancer screening, psychologist, reconstructive surgery, smoking cessation, social worker, speech therapist, telemedicine, well child care

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