If your employer offers a group healthcare plan, it’s time to decide if that plan works for you and your family. Let’s compare taking your employer-sponsored healthcare versus seeking an alternative option in the Marketplace.
The most compelling reason to accept your employer’s healthcare plan if they offer it is that, by law, employers are required to cover at least 50% of the employee’s monthly premium. This can significantly reduce your baseline healthcare cost every month.
However, if you have a spouse or dependents that also need coverage, you may want to do some research before signing them up for your employer’s plan as well. Employers aren’t required to pay a cent towards their premium costs, so they would pay double the premium that you’re paying for the same coverage. This can make adding family members to an employer-sponsored healthcare plan extremely expensive. Consider shopping around for private healthcare options to determine if there may be more affordable options for your family than your employer’s healthcare plan at full cost.
This can vary widely depending on the coverage that your employer offers. Thoroughly review the coverage options that your employer provides before agreeing to join the plan. It may help to receive a free quote for various private healthcare plans as well so you can get an idea of what your coverage options and price points are.
If your employer’s healthcare plan suits your needs and the price is right, it may be the simplest and most affordable coverage option. However, if your life circumstances change and you require additional or different coverage, employer healthcare tends to be more rigid and less accommodating than private healthcare plans. Private healthcare plans allow for a greater degree of flexibility, so your plan can be adjusted to suit your specific needs to keep your premium as low as possible.
Before joining your employer’s health insurance plan, ask for more information on how you can contact the healthcare company if you require help. Employer health insurance can introduce additional layers of bureaucracy to the process of speaking with a representative. And if you are able to get in contact with an agent, there’s no guarantee they’ll be able to address your problems due to contractual obligations they may have established with your employer.
First Family Insurance assigns a personal agent to your account so you’re always able to communicate with a human. They’ll even provide their cell numbers so you can call or text whenever you need them. You’re empowered to address concerns and make changes at your convenience rather than waiting on hold for someone to get back to you.
Contact us today to get your free, no-obligation quote to start comparing your employer’s healthcare plan with leading private healthcare plans.