San Antonio Health Insurance Q&A

San Antonio Health Insurance |

Okay, so I get this question all the time:

 “I got group coverage offered to me by my employer. Do I shop it or do I just take it?” 

This is a very important question because choosing the right health insurance plan can make a big difference in your health and your finances. However, the answer is not the same for everyone. It depends on your situation and the type of group coverage that you are offered.

To help you decide, I am going to go through four different scenarios that you might run into, and explain the pros and cons of each one. These scenarios are based on the most common types of group coverage that employers offer in the United States:

1. Employee only: This is when you are an individual and you are getting offered a plan by your employer that covers only yourself. In this case, you are going to want to take that plan. More than likely, there is no reason to shop it. It is more likely going to be the best option for you, because your employer will pay a large portion of your premium, and you will get access to a network of providers and benefits that you might not find in the individual market. (Unless you have a special needs that is not covered by your employer’s plan, you should stick with it.)
2. 2. Employee +spouse

   If you’re employed plus you have a spouse that needs to have coverage through you. You’re going to want to shop this because about a 50-50 chance that we’re going to be able to save you money, out of a private plan depending on a few different scenarios.
3. Employee + children: This is when you have children who need coverage, but no spouse. In this case, you probably want to take your employer’s plan as well. For children, it is a lot tougher for them to get a policy on their own, because they are considered dependents until they turn 26 years old. So, we are not going to want to split up this policy at all. Your employer’s plan will likely offer comprehensive coverage for your children, including preventive care, immunizations, dental and vision care, and more. Plus, your employer will also pay a portion of your premium, making it more affordable for you.
4.  Employee + family

   This one’s 100% of the time you want to shop it. Never take an employer coverage plan for the whole family, without shopping at first. Why? Because this might be the most expensive option for both you and your employer. In some cases, an employer will charge you more for adding your family members to your plan, and in turn, pay less of their premium than they would for just yourself.