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Individual Health Insurance & Group Heath Insurance Coverage Fairbanks AK

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.

Benefits Consulting Services
(907) 357-4800
165 E. Parks Hwy. Suite 202
Wasilla, AK
 
Silver Oak Insurance
(877) 422-8348
3315 Marquart, Suite 206
houston, AK
 
AZAZELI
+8016427277
Jokil, AK
 
namviet
(245) 712-3465
hcm
hcm, AK
 
Healthstatrx
(303) 824-1124
Aurora, AK
 
JLOinsurance.com
(626) 482-3577
4848 N Vincent
Covina, AK
 
DSG Health Insurance
(469) 916-3646
11937 Denton Drive
Dallas, AK
 
St Louis Health Quotes.Com
(314) 739-5800
34 Muirfield Hill Ct South
St Charles, AK
 
BESTCAHEALTHINSURANCE.COM
(626) 339-9819
17054 E Bellbrook St
Covina, AK
 
QUOTEABC.COM
(866) 992-7070
2184 Saviers Rd
Oxnard, AK
 

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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Alaska State Mandated Health Insurance Coverage

Medical insurance benefits that insurers must provide include: acupuncturist , alcohol/drug treatment , breast reconstruction , cervical cancer/HPV screening , chiropractor , colorectal cancer screening , dentist , dependent coverage (including newborns, adopted children, dependent students, dependent adults, grandchildren) , diabetes (self-management and supplies) , emergency room service , mammography , maternity minimum stay , mental health , naturopath , newborn hearing screening , nurse midwife , nurse practitioner , occupational therapist , optometrist , osteopath (D.O.) , physical therapist , physician assistant , PKU/metabolic disorder , prostate cancer screening , psychologist , social worker , well child care

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