subject: Benefits Of Health Insurance Offered By Employers [print this page] With recent health care reform and overall concerns about individual health, obtaining health insurance is on the mind of a lot of Americans. Many do not know where to start or where they should get their health insurance from. A great start to shopping for health insurance is to compare private insurance plans and inquire about health insurance offered by your employer. There are significant advantages to obtaining health care through an employer which will transform into savings for individuals and families.
The biggest advantage to using employer sponsored health insurance is that employers often pay a certain percentage of the employee's health care premium as well as a smaller percentage for the employee's family. Employers often find that the cost of paying partial health insurance premiums for the employee far exceed the losses incurred when an employee is out sick due to injury or illness. This translates into savings for the employee leaving more money for him or her to spend on other things.
Employer sponsored health insurance also offer savings because health insurance premiums can be taken out of the employee's check on a pre-tax basis. Insurance premiums are taken out of the employee's net pay before income taxes are applied to it. In some cases this process can put the employee in a lower income tax bracket and results in fewer tax dollars being withheld from the employee's pay.
When seeking a private health insurance policy it is often required that a person undergo a physical examination to determine what his or her health is before the policy is taken out. Persons found to be in less than average health can face larger insurance premiums or get no coverage at all. With employer sponsored health insurance there is no required physical examination to determine eligibility. This can be an advantage for someone who faces high premiums or ineligibility with a private health insurance policy.
Pre-existing conditions almost always result in higher health insurance premiums or no coverage at all with private health insurance policies. Employer sponsored health insurance do not deny people faced with a pre-existing condition such as diabetes or heart disease. There are however, limitations to coverage for treatment as a result of the pre-existing condition such as a person will be responsible for the full amount of health care costs for a set amount of time before employer sponsored health insurance will provide benefits.
This outlines a few of the benefits of obtaining employer sponsored health insurance benefits but there are other policy details to consider. When shopping for health insurance it is important to compare pricing and coverage of both employer sponsored plans and private health plans to find the right plan for you. Each individual's situation and budget is different and should be taken into consideration before deciding on a health insurance plan. Fully understanding the coverage and limitations will ensure you are getting the maximum amount of benefits for the amount of money invested in the policy.
by: Casey Trillbar
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