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Individual Florida Health Insurance Plans Become More Popular

Individual Florida Health Insurance Plans Become More Popular

According to a new analysis of the nation's 10 largest states

, Florida ranked highest in terms of the average cost for group Florida health insurance premiums for family coverage. Last year, the cost of family coverage in Florida per employee averaged $15,032 according to the federal Agency for Healthcare Research and Quality in Rockville, Maryland. The state of Ohio, which came in with the least expensive options, only had an average premium cost of $13,083 per employee.

The investigation showed that 30.3 percent of employees who enroll in employer-sponsored Florida health insurance plans select family coverage. It also found out that 51.3 percent select individual coverage and 18.3 percent enroll in employee-plus-one dependent health care coverage.

Do Individual Florida Health Insurance Plans Cost Less Than Group Coverage?

When you are trying to compare individual and group coverage plans, your head may be spinning from the many choices. If you're looking for the least costly options, take a look at FL health insurance plans that require you to pay for health care up to an annual limit. These are called high-deductible plans, even though the deductible may range from $500 to $20,000. Individual Florida Health Insurance Plans Become More Popular


Typically, plans with higher deductibles have lower premiums. Many people are finding that it's actually cheaper to buy their own plan than to continue paying for escalating premiums on group coverage. That is especially true for employees who need to add family members to their coverage.

Some employers are also allowing employees to select policies within a certain range and contributing to the cost of the insurance, possibly through payroll deductions. The high-deductible plans that work with Health Savings Accounts often have premiums so low that small businesses have been able to not only continue to provide employees with health plan coverage on the job, but to also expand coverage for employee's families.

Are Florida Health Insurance Premiums The Only Cost To Consider?

Premiums don't represent the true cost of Florida health insurance. After you've spent enough on health care to meet the annual deductible, you may still have a co-insurance payment. Some plans with 100-percent co-insurance pay for almost all medical treatment once the deductible has been met. Other plans may have 80-percent or another percentage of co-insurance.

Fifty-percent co-insurance, for example, would mean that you're still responsible for half of the medical bills after you've met the plan's deductible. In addition, some plans may have multiple deductibles or the extent of the deductible may not be clear.

If a policy specifies a $5,000 deductible, check whether that is per family member. A couple with two children could end up with a $20,000 annual deductible if every family member has a $5,000 deductible before their health care is covered.Individual Florida Health Insurance Plans Become More Popular


Health Care Reform Has Already Taken A Big Bite Out Of Deductibles

FL health insurance plans purchased this year have no co-pays or other out-of-pocket costs for preventive health care. Health insurance for Florida that was purchased before the law was changed still enforces deductibles the old way, but plans purchased today exempt many recommended forms of health care from being subject to a deductible.

Some of the preventive care that's now covered includes your annual physical exam, colonoscopies, mammograms, and screening procedures to detect other diseases. If you get these services from outside of the plan's network of providers, you'll probably have to pay for at least part of the bill. That's another reason why it's critical to review provider lists before you apply for coverage.

by: Wiley Long
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Individual Florida Health Insurance Plans Become More Popular