If you work for a larger employer, there is a pretty good chance that you have access to some form of group healthcare coverage. These plans offered through employers can have their advantages, but they can also have their downfalls when you take a closer look. More people are choosing to go with an individual health care plan in spite of the fact that insurance may be available through their employer. Here is a look at some of the benefits of these individual plans to help you decide what you should do personally.
You may get more freedom to choose the providers you want to visit.
It is not uncommon for group coverage plans to have a more conservative list of in-network providers. Unfortunately, if you prefer to see a certain doctor or care provider outside of the network, this can mean your treatment costs may not be covered the same. Since individual health care plans are usually designed with flexibility in mind, you may not face as many restrictions about which providers are in the network.
You may see a greater level of coverage for specific illnesses and treatment types.
Group coverage plans are designed to be comprehensive enough that most participants can get some level of coverage for a wide range of ailments. While effective, this can mean that coverage limits for certain conditions can be more restricted. For example, if you have to see a mental health professional, you may be more likely to find out that your plan only covers a small fraction of the cost if you have group coverage.
You may get to customize your plan in a way that better suits your needs as an individual.
When group coverage plans are built for employers, they will usually have a limited number of plan options to make it easier for a large group of people to tack down the benefits they want. For example, you may have to choose from a series of pre-built insurance plans. In contrast, an individual health care plan is designed so that every individual participant can build a policy that best suits their needs. For example, your individual plan may allow you to pick up extra coverage for dental care costs, pick a higher deductible, or pick a certain out-of-pocket limit. You will be more able to create a plan that works for you with this kind of setup.