Most individuals get group health insurance through their employer. The employer
pays part of the monthly premium and the employee pays the rest. Individuals not
covered in an employer group plan or choose to opt out of such a plan usually
purchase an individual health plan for themselves and their families.
Ohio Individual Health Insurance
Individual health insurance in Ohio includes indemnity or managed health care plans.
Indemnity plans offer a greater choice of health care providers. In managed-care plans,
health care providers in the health insurance company’s network provide services at
fixed rates. Managed care means less paperwork and lower out-of-pocket costs for the
consumer compared to the indemnity plan. The best individual insurance option is a
low premium, high deductible health plan.
Ohio Group Health Insurance
In Ohio, group health insurance is very different from individual health insurance. In
the case of group insurance, a group of employees are insured together under a plan
that the employer chooses. It is the health of the group as a whole that determines the
premium that each employee will pay. Group insurance plans are guaranteed issue.
Individual or Group Health Insurance?
A group policy that your employer offers is a better option if you have a medical
condition like diabetes or arthritis. However, if your spouse and children are young
and healthy, the premium for an individual insurance plan could be much lower
compared to the group insurance plan that your employer offers you. This is because
group rates usually depend on the average age and health on the entire group which
could mean to a higher premium for each member of the group. Moreover, with the
economic downturn, employers have begun to cut down on their share of the premium,
making group policies quite expensive.
If you have to choose between an individual health insurance plan and a group plan,
the best solution is to seek the advice of a professional insurance agent who is
well-informed in all matters relating to individual and group health insurance for Ohio