People make hundreds of little choices on a daily basis; most don’t matter in the long run. The choice of insurance, though, matters a great deal. In fact, it’s difficult to overstate the importance of having quality health insurance. Without a good health insurance plan in place, individuals are at risk of taking on some hefty medical bills. Consider, for instance, that the average hospital stay costs over $10,000 and you’ll begin to see why dependable coverage is so important. Given all that, today we’ll explore the pros and cons of getting health insurance through an employer.
Benefits of Insurance through an Employer
There are two main advantages to getting insurance through an employer: time and money. First, employees don’t need to research, compare, and contrast dozens of different health-insurance plans in order to find a solid option. Rather, they can simply review the one insurance plan put forth by their employer. Second, getting insurance through an employer is almost always cheaper than paying for insurance individually. Employers typically pays for a portion of employee healthcare premiums, and may even secure lower rates based on signing up a group of people. Lastly, professionals are less likely to be turned down for preexisting conditions when signing up for group insurance.
Drawbacks of Insurance through an Employer
Despite the serious benefits of getting insurance through an employer, there are some drawbacks to this choice. Professionals who elect to get insurance through an employer give up their choice of picking a preferred healthcare package. Furthermore, they may not be able to see their preferred doctors or visit preferred medical sites. For instance, a healthcare plan from an employer might not provide the option for a crucial service like same day STD testing. In addition, it’s worth noting that insurance through an employer is tied to continued employment. So if you lose your job, you’ll also lose your insurance.
At the end of the day, the choice of insurance provider is a serious decision and professionals should weigh all of their options very carefully before opting for one plan over another. Naturally, it makes a lot of sense to do some research on the subject. Figure out the costs and services provided by several different plans. It’s also wise to determine which, if any, onsite medical services your employer offers. Regardless of what route you eventually go, it’s essential to secure the best possible insurance for you and your family. Failing to do so is a big mistake!