Individual Health Insurance vs Group Health Insurance: What's the Difference?

LAS VEGAS - March 12, 2024 - PRLog -- Obviously, if you can't get health insurance through your employer, you'll want to explore the individual health insurance options. But what if you can get health insurance through your employer? Could you score a better rate by waiving coverage? BE VERY CAREFUL! Keep reading to find out why.

In a vast majority of cases, sticking with the group health insurance plan offered by your employer is your best bet. With a group health insurance plan, you may have access to benefits that you wouldn't be able to afford with an individual health insurance plan. Your coverage will start shortly after your hire date, so you don't have to worry about a long gap in coverage while you wait for the Open Enrollment Period.

You can call us, and we'll help you with a "Short Term Health Insurance Plan" if you do have a 30-to-90-day window before your benefits kick in. Finally, your employer will pay for a minimum of 50% of your premium (for at least at a minimum the employee only), and the portion that you pay is taken from your pre-tax earnings, which will add up to significant savings for you. Your employer may elect to pay for spouse and dependents, but that is up to the employer.

Not everyone has access to employer-subsidized group health insurance. You can get comprehensive, affordable coverage by purchasing health insurance through the Healthcare Marketplace, and most likely qualify for Government assistance to help you pay your premiums.

Unless you qualify for a Special Enrollment Period, you'll have to shop and purchase your health insurance plan during the Open Enrollment Period (11/1 through 1/15 each year). If you or your spouse's/parent's employer OFFERS coverage, you'll be responsible for the full amount of your premium because you already have an employer OFFERING health insurance. If you don't have coverage OFFERED through any employment, you are most likely going to be offered Government assistance in some way, depending on the household income.

Read the full article: https://www.nevadainsuranceenrollment.com/individual-heal...

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Nevada Insurance Enrollment
4260 W. Craig Road suite #150-A
North Las Vegas, NV 89032
(702) 898-0554
Website: NevadaInsuranceEnrollment.com