With health insurance within a Kansas company, you’ll often choose between group and individual insurance.
Group Health Insurance
Most employers provide group health insurance to their employees as a benefits package.
Pros:
- Cost Sharing: Group insurance premiums are often shared between employers and employees, making it more affordable than individual coverage.
- Guaranteed Issue: Group policies usually accept all eligible members without requiring a medical exam or underwriting, making it accessible for pre-existing conditions.
- Comprehensive Coverage: Group policies often offer comprehensive coverage with many benefits, including preventive care and hospitalization.
- Employer Contributions: Employers may contribute a portion of the premium cost, reducing the financial burden on employees.
Cons:
- Limited Control: With group insurance, you have limited control over the plan and coverage options.
- Portability: Group insurance is tied to your employment, so if you change jobs, you may lose coverage.
Individual Health Insurance
Individual health insurance is purchased directly from an insurance company.
Pros:
- Customization: Individual policies can be customized to suit your specific needs, allowing you to select the coverage, deductibles, and networks that fit your situation.
- Portability: Your policy is not tied to your employment, so you can keep it even if you change jobs.
- Privacy: You have greater privacy with individual insurance since your employer is not involved.
- Choice of Providers: Individual policies often provide a wider selection.
Cons:
- Cost: Individual health insurance can be more expensive than group coverage.
- Underwriting: You may be subject to medical underwriting, leading to higher premiums or coverage denials for pre-existing conditions.
- Limited Benefits: Individual policies may offer fewer benefits than group plans, especially if you have a small budget.
Midwest Professional Insurance Can Help You
At Midwest Professional Insurance, we can help you weigh the options concerning health insurance in Kansas. Contact us today.
