Frequently Asked Questions

What is the economic difference between purchasing a healthcare plan as an individual, and as part of a company?

When you purchase health insurance as an individual, the insurer typically assesses your health profile, the risk you represent and determines a premium on the basis of your situation. When you're part of a group, the insurer assesses the risk of the group as a whole. In general, insurance is cheaper when you buy it as part of a group, because the group allows the insurance company to spread its risk around more. If you're young and healthy, you still might be able to get an affordable rate on health insurance, even if you buy it as an individual. But if you're older or have health issues, buying insurance as part of a group will almost certainly be less expensive. Buying insurance as part of a group is safer, too, since it's harder for insurance carriers to drop you if you become expensive for them.

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