Thursday, December 12, 2013

Group Health Insurance Vs Individual Health Insurance In Florida

If you are a small business Florida with four to fifty full-time employees, your employees might have been pressuring you on getting a term health care insurance that you would have to pay.

While it is always advisable to keep your employees happy, getting term healthcare insurance for your employees as a member of your organization may not always suit their needs and may not be cost effective for your business too.

In order to be accepted in their Florida health insurance programs, most healthcare providers require for a small business to be operating for at least a year in Florida. Eligible business must also have been paying for their quarterly taxes. Small business in this case is a company with four to 50 full-time enrolled employees.

Some health providers allow employers to get a combination of PPO plans and HMO plans - and some employees can be on PPO while others on HMO. Although they offer similar services, PPO plans and HMO plans have some distinct differences. The aim is ultimately to allow people to save on their healthcare costs through their network of physicians and hospitals. However, with a PPO, you may see your favorite doctor or visit your favorite hospital - the insurance company will pay between 70% to 80% of the total cost. HMO plans are known, and in fact, limit you to their list of providers and hospitals. PPO plans are offered in all of Florida's counties.

If You Can't Afford It

If you have less than 25 employees, you are not required to offer healthcare or HMO options to your employees if you go back to the Health Maintenance Organization Act of 1973.

If you are such a small organization, then you might want to encourage your employees to get an individual health insurance plan. This type of plan is not issued to individuals as employees, business owners or as self-employed people. They are issued to people individually as breathing and living people with healthcare concerns.

Individual health insurance plans have advantages over group health insurance and vice versa.

Insurance companies usually have guidelines for accepting companies into their program. Your company might not qualify to be accepted into a group health program. However, if it does qualify, the insurance company must accept all individuals regardless of their pre-existing health conditions - they even include maternity benefits. Therefore, premiums under group healthcare can be more expensive than individual plans.

Insurance companies usually offer better, cheaper rates with individual plans since they can accept, rate or decline an application for an individual plan. Maternity benefits can only be had as an option in this case.

Insurance Brokers

If you are looking forward to enrolling in a health insurance program, you should know that even if you go straight direct to the healthcare company or if you choose to find your company, the premiums are still going to be the same. Insurance providers are not allowed to sell their health plans cheaper than what their agents are selling it for.

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