Life Would Far Easier If We Health Insurance For All
The cost of health insurance and the cover provided varies considerably depending upon whether insurance cover is arranged on an individual basis, for a small business or for a large group.
For those covered under a large group plan, cover tends to be reasonably comprehensive and less expensive, simply because there are a large number of people paying into the insurance pool from which claims are met.
For those looking for individual health insurance this can prove a difficult task. A dwindling number of insurance companies are prepared to offer individual policies these days and, those that do, are often unwilling to accept applications from individuals with a growing list of pre-existing conditions. As a result, it’s not at all uncommon nowadays for those seeking individual policies to be denied cover.
For those who are fortunate enough to find individual cover, a look at the details of the policy and the costs involved will often leave them wondering if they were indeed quite so fortunate. With an often long list of exclusions and loaded with out-of-pocket costs, individual health insurance policies are certainly not what they once were.
For those employed within small businesses (employing more than 2 but fewer than 50 people) finding suitable health insurance can also be a difficult matter. If an employer with a small business does decide to arrange group cover for his employees, the costs of any scheme will normally be based upon both the number and state of health of those who wish to participate. This means in essence that a very small number of employees who are considered in medical terms to be high risk, or who have pre-existing conditions, can push up the costs considerably for everybody in the scheme. Nevertheless, where it is available, membership of a small business group plan will normally prove a better option than arranging individual health insurance cover.
Large group health insurance schemes will generally offer the best coverage at the lowest price. Group health insurance coverage is available to all eligible employees within the company holding a group scheme policy and is frequently also available for an employee’s immediate family members. Unlike group schemes for small businesses, large group schemes must admit all eligible employees regardless of pre-existing conditions or other high risk factors.
Despite the fact that, for most people, membership of a group scheme will prove to be the best option, there are circumstances in which you may feel that you need additional individual health insurance to run alongside the group scheme. Some group health insurance schemes will exclude a range of medical services such as vision and dental care, cosmetic surgery, alternative medicine, experimental treatments, some mental and substance-abuse therapies and much more. In all cases, it is wise to look carefully at your employer’s group scheme and decide whether or not, in your particular circumstances, you need additional coverage. In simple terms, it will be a question of weighing the additional benefits against of the cost and deciding what makes sense for you.
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