Employer-based health insurance is cheaper for a number of reasons. Number one is your employer bears some of the cost for your health insurance. Another key reason employer-based health insurance can be less expensive than individual health insurance is rates and qualification requirements are typically lower. You can also save additional money with employer-based health insurance. One way is to have your employer pay the premium on a pre-tax basis to lower your overall taxable gross pay. Another way to reduce your taxable income is to participate in your employer’s flexible spending plan to save money for out-of-pocket health insurance expenses such as co-pays, some medications and certain medical devices.

COBRA benefits

A concern you might have about employer-based health insurance is what happens to your health insurance when you change jobs, are released by your employer or otherwise become unemployed? A government program called the Consolidated Omnibus Budget Reconciliation Act (COBRA) gives you the right to carry your employer-based group health insurance coverage with you for up to 18 months. While COBRA will allow you to remain insured, you will have to pay the entire premium for your group health insurance. Previously both you and your employer contributed to the cost of your health insurance. If you find yourself requiring COBRA benefits make sure to fill out the appropriate forms available from your previous employer’s benefits department within 60 days of leaving the job. Otherwise you could be denied COBRA health insurance coverage.

No employer-based health insurance? No problem!

What if your employer doesn’t offer health insurance? Not a problem, you can always buy an individual health insurance policy. And it’s possible, if you are member of an organization or group that offers group health insurance, to retain the benefit of employer-based health insurance in terms of lower rates and qualification requirements.

Whether your employer offers health insurance or you are just looking for an individual health insurance policy, be sure to take your time and compare health insurance quotes to find a policy that best fits your family’s health insurance needs and saves you money. It pays to shop around for your health insurance policy.

At this point, you have a few options. You may enroll in your employer’s group health insurance Georgia plan, and terminate your individual health insurance Georgia policy. In order to terminate a policy, a health insurance Georgia carrier often requires written notice and at least thirty days’ notice before coverage can be terminated. Be sure to take this into account and to be aware of when your effective date of coverage would be on your new group health insurance Georgia plan. In order to enroll in your employer’s group health insurance Georgia plan, you will have to fill out an application and wait for approval before your effective date starts. Although with a group health insurance Georgia plan, if you are a qualified member of an organization, you cannot be denied enrollment. Therefore, it is just a matter of waiting for the underwriting process, and not really a question of whether you will be approved or not.

Another option is to enroll in your employer’s group health insurance Georgia plan, but also keep your individual policy. This can be done in order to have double coverage. However, be aware that there are specific rules regarding what benefits you receive. You cannot receive double benefits from both plans. What usually occurs is that one health insurance Georgia policy is considered the primary policy. Claims are filed against this primary policy. Once the primary health insurance Georgia plan pays out benefits, then claims can be filed against the secondary policy to contribute towards paying what would normally be considered the member’s responsibility. This option is particularly helpful if the primary health insurance Georgia policy has a high deductible, or excludes many medical services. Be sure to read all of the rules of your health insurance Georgia plan, especially the coordination of benefits section of your certificate of coverage booklet. That is what it is called when you need to coordinate benefits between two different health insurance Georgia plans.

The third option is to keep your individual health insurance Georgia policy in effect, and not enroll in the group health insurance Georgia plan that your employer offers. If your employer pays for the group health insurance Georgia plan premium, then this may be not be the most cost-effective option. But if your employer pays for only your premium and you have to pay for all of your family members, then you need to compare costs carefully. Individual policy premiums are lower than group health insurance Georgia plans. But if your family members have any kind of health risk, or pre-existing medical conditions, then you will need to consider how this will affect your premium.

If you are in a situation in which you have a choice between an individual health insurance Georgia plan, and an employer-subsidized group health insurance Georgia plan, consider yourself lucky and choose the best option for you and your family.

A supplemental disability insurance policy can reduce your risk of severe income loss in several ways:

Policies can be written to extend your income coverage to 100% very affordably. Because you pay the premium, all benefits received via the supplemental policy are tax-free. Gaps in coverage identified by your insurance agent can be specifically closed in the supplemental policy. While group coverage ends when you leave your employer, supplemental coverage remains with you regardless of for whom you work.

Many medium and large companies offer a group policy to employees for just a few dollars every pay period that is automatically deducted from your paycheck.

The problem is that group policies are typically riddled with limitations and coverage exceptions.  For instance:

The average group policy pays up to 60% of your regular income.  However, because premiums are primarily paid by your employer, most, if not all benefits received are fully taxable as income!This means your 60% income coverage just dropped to around 42% from a take-home dollars standpoint. Group disability policies generally cap benefits at between $5,000 and $6,000 per month, regardless of your salary.If your income exceeds these limits, you could find your household cash flow severely constrained even though your policy is paying its maximum benefit. Read the fine print!  Group policies can include exclusions or limited coverage for specific situations such as mental or nervous-related conditions.  Coverage for alcohol or drug-related disabilities can be limited to as short as 6 months or excluded altogether.

False Sense of Security

The biggest problem with group policies is the false sense of security they give.

“People think because they deduct a few bucks from their paycheck each time that they’re covered if they can’t work.”, explains Rene Apack, President of Insure Your Future, the nation’s leading independent disability insurance brokerage.  “It’s only after the first disability income check that the hard reality sets in, and by then, supplemental coverage is no longer an option.”

While life insurance is generally straightforward (benefits paid upon death), group disability policies get very specific regarding under what conditions and for how long benefits will be paid.

It’s only after the insured gets sick or hurt and can’t work that he/she find assumptions made about their coverage are wrong and his/her take-home benefits are actually much less than they used to make.

Don’t Let a Great Start Be a Miserable Finish

Group disability coverage at work has its place.  It is usually very inexpensive and, quite honestly, people don’t think much about it.  It’s a cheap add-on when signing up for life insurance during annual open enrollment.  But could your household thrive if your income was cut by 42%?  Even if it could, why not almost double your take home during disability for $30-$40 per month?

Supplemental health insurance can help you when you don’t have medical insurance to take care of your health needs. Basically, supplemental health insurance pays you a cash benefit if a qualifying event or condition occurs. What it covers depends on the plan that you choose, but what it does is give you coverage where you may not have any otherwise.

Examples

You read above where a person may not have medical insurance through their employer or they have to endure a waiting period before they are covered. There are other instances in which supplemental insurance comes in handy:

- When Canadian residents visit the United States, they frequently get what is called visitors health insurance. What this does is it covers them while they are visiting the United States and protects them from the high medical costs in the case of an illness or accident. There have been individuals in the past who have visited the U.S. and been in a car wreck or came down ill. When taken to the hospital, they find that the healthcare offered by the Canadian government does not cover treatment within the United States. What happens is that person is slapped with a large medical bill that can be thousands of dollars. With supplemental health insurance such as visitors health insurance, this doesn’t happen.

- People travel quite often, but the insurance in their home country will not cover them in another country. That is when they purchase travel health insurance. That means they’re going to be covered in the countries that they visit and not be stuck with huge medical bills in case they need medical treatment. It works the same as visitors health insurance. The only difference is that travel health insurance is for the length of time in which the individual is traveling abroad.

From these two instances alone, it is easy to see how these two types of supplemental health insurance really come in handy. You would be amazed how many Canadians refuse to visit the United States without acquiring visitors health insurance first. The urgency is probably great than those who actually seek out travel health insurance, although travel health insurance is becoming more prevalent amongst travelers because they realize the scope of not having medical insurance while traveling.

A wise choice

So now you can see that supplemental health insurance is certainly a wise choice. It even acts as a supplement to any existing insurance that you may have. If your regular medical insurance does not cover a specific item, then you can choose a supplemental plan that does. That way you know that you are covered in one way or another when you are receiving medical treatment. That also means that you can relax a little bit and not worry yourself until you’re sick.

These days it’s not a good idea to be without health care coverage.  Injuries can occur anytime and you never know when you will get sick.  It’s not cheap to get health care and expenses add up quickly.

Unforeseen injuries or ailments could wipe you out financially if there was no existing health coverage at the time.  Medical protection is costly and for this reason many people try to find low-priced health care.

Various organizations are in business to provide health care insurance.  Insurance companies will provide different packages so people can choose which one fits their needs.

Getting the right health insurance policy can be time-consuming.  You will need to ensure that the coverage you obtain is for a price that you can affordably pay.  As a result, you should collect insurance quotes online to find the best deals available.

Get your free health insurance quote here.

When you use a service to get Medicare And Employer Health Insurance, you simply need to type in details such as your age and gender into a form.  You will be given different quotes from different companies so you can review the prices and policy figures from the providers.  Then, your next step would be to choose the right insurance policy that gives you what you need and that is within your budget.

You save a lot of time and energy when you make use of online health quote sites.  Collecting an insurance quote from each provider would take several hours to complete.  Mercifully, free services exist so you can collect rates from numerous providers simply and quickly.

For more information on Medicare And Employer Health Insurance and to get a free quote, go here.

These days it’s a bad idea to be without health care coverage.  You can get sick anytime and injuries can occur when you least expect them.  Acquiring health insurance isn’t cheap by any standards and expenses can add up rather fast.

Unpredictable injuries and accidents can clean out people’s financial savings if there is no health coverage present.  Because medical aid is overpriced, it’s crucial for a lot of people to find affordable health insurance.

You can choose from different firms that provide medical care insurance.  Insurance companies will provide different packages so people can choose which one fits their needs.

Obtaining a suitable health insurance policy can be tough.  It’s important to obtain an optimal insurance policy for an amount that you can affordably cover.  As a result, it’s a great plan to compare health insurance quotes online to figure out who will give you the most coverage for the least amount of money.

Get a free health insurance quote now.

You simply need to provide basic information into a form when using a site to obtain Small Employer Health Insurance.  Each provider will give you a quote for their policy and you will be able to compare the different quotes from all the providers.  Then you can sort out the insurance policies that meet your needs and that are financially sound.

Online health quote services can save you time and much frustration.  It would take hours to go to every single insurance provider’s website and get a quote.  Mercifully, free services exist so you can collect rates from numerous providers simply and quickly.

Learn more about Small Employer Health Insurance and get a free insurance quote here.