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Individual Health Insurance & Group Heath Insurance Coverage Washington DC

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.

Martin Smith
4800 Hampden Lane
Bethesda, MD
Company
Title: President, Wealth Management Advisor
Company: KingdomTrust Capital Management, Inc.
Education
Howard University, Bachelor of Arts
Regent School of Divinity, Candidate: M.DIV
Denver College of Financial Planning
Years Experience
Years Experience: 15
Service
High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Fee-Only Comprehensive Financial Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commi

Data Provided by:
James E. Johnson, DDS PC
(202) 783-4567
555 12th Street,
Washington, DC
 
Sidney S. Markowitz, DDS, PC
(202) 833-8240
1145-19th Street, NW
Washington, DC
 
Cosmetic Dentistry of Washington
(202) 296-8777
1145 19th St., NW
Washington, DC
 
Merck & Company
(202) 997-7118
P.O. Box 6255
Washington, DC
 
Robin Wulff
7202 Arlington Blvd.
Falls Church, VA
Company
Title: Agent
Company: ABP Insurance Agency, Inc
Education
Washington State University - BA
Portland State University - MBA
Years Experience
Years Experience: 20
Service
Life Insurance,Health Care Insurance,Long-Term Health Care Planning,Disability Insurance,Annuities

Data Provided by:
Drs. Noguera & Russo, P.C.
(202) 861-0045
2021 K St., NW #522
Washington, DC
 
United Dental Corporation
(202) 861-0001
1629 K St., NW
Washington, DC
 
Small Smiles Dental Clinic of Washington, DC
(202) 829-5437
3401 Georgia Ave., NW
Washington, DC
 
Barbara G. Farishian, DDS, PLLC
(202) 363-0106
Farishian, DDS, PLLC
Washington, DC
 
Data Provided by:

Individual Health Insurance & Group Heath Insurance Coverage

Provided By: 

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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