Employer-sponsored health insurance plans operate under group rates and maintain a one-size-fits-all dynamic.  This blanket coverage results in certain individuals paying for coverage they don’t need in order to subsidize those employees who require more extensive health care.  Since these extra costs are absorbed by all employees, group plans are unnecessarily expensive for certain workers.  Such workers may benefit from an individual health insurance plan, which can be tailored to fit one’s particular needs and budget.

Another benefit of an individual Texas health insurance plan is that it’s portable.  When an employee loses his job, changes his job or branches out on his own, his benefits will lapse, leaving him and his family defenseless against a major medical emergency.  An individual health insurance plan, however, stays in place regardless of a change in employment status, ensuring coverage during tumultuous times.

Since money is tight, the job market jobs remains uncertain and increases in health care costs continue to outpace wages, there’s no better time to consider an individual Texas health insurance plan for personalized, affordable and portable health coverage.

1. Individual Texas health insurance – Purchasing individual Texas health insurance allows you to customize a plan that fits your health needs and budget, without paying for unnecessary items that were bundled into your group plan.  You can choose between a variety of plans, including PPOs, HMOs, fee-for-service plans and even a Texas health savings account.

2. COBRA – Those who leave their job for self-employment may be eligible to continue their coverage through COBRA.  The Consolidated Omnibus Budget Reconciliation Act of 1985 allows workers to extend their employer benefits for up to 18 months after leaving a job, but since the employer is no longer subsidizing the plan, this can be a very pricey option.

3. Join your spouse’s plan – If you’re married and your spouse’s employer offers solid health insurance, consider joining his or her plan.  It may be cheaper than purchasing insurance on your own, and group health plans will usually accept you regardless of health history.

4. Put a broker to work for you – A certified Texas health insurance broker can sift through all the clutter to help you find the best plan for you.  Brokers are eventually paid by the health insurance company you choose, so their services are free to use.

5. Short-term health insurance – If self-employment is only a temporary stop in your career, then a short-term Texas health insurance plan may be a good option.  It will keep you covered at a reasonable price until you move onto a job with employer-subsidized benefits.

When selecting an individual Texas health insurance plan, you can choose between indemnity, or fee-for-service plans, health maintenance organizations (HMOs), point-of-service (POS) plans, preferred provider organizations (PPOs), and even Texas health savings accounts (HSAs).  Run through the benefits, services and price structures for each type of health insurance plan to decide which plan best conforms to your health needs and budget.

One of the biggest advantages of purchasing individual Texas health insurance is that you have the freedom to pick and choose the benefits and services you want.  Whether it’s low monthly premiums paired with a high deductible, or higher monthly premiums matched with no deductibles or copays, you can customize individual plans to meet your needs and budget.  This is in contrast to group plans that offer broad coverage for a broad range of people, which can result in you paying for services you don’t want or need.

Another advantage to obtaining individual Texas health insurance is that it’s portable. Employer sponsored coverage ends when your job ends, but an individual plan goes with you, so regardless of job status, consumers can rest assured that they’re covered.

For personalized support in choosing the best individual Texas health insurance plan for you, try working with a Texas health insurance broker.  A broker can guide you through various plans and options as well as make suggestions that align with your medical background and health care needs.  And since health insurance rates are regulated, the rates obtained through a broker are the exact same as rates received directly from the insurance company.  Plus, because a broker’s fee is paid by the health insurance carrier, there’s no extra cost to you; and if you need some help along the way, you’ve got a local advocate to navigate the health insurance maze on your behalf.

But in addition to those who are forced to find alternative health insurance, many people are simply choosing individual health insurance plans rather than enlisting in their employer-sponsored plans.  Here’s why:

Customization  &  Cost

Group health insurance offers a broad range of benefits intended to cover a wide variety of people. And to keep from discriminating against those with pre-existing conditions, the health insurance company providing the group benefits covers all employees, regardless of their health.  This creates extra costs for all employees, whether they need extensive care or not.  Because of this, group plans can be unnecessarily expensive for healthy individuals.

If you are a healthy individual on a group health insurance plan, you may be overpaying for health insurance and getting less desirable benefits. Consider opting for an individual Texas health insurance plan instead – one that’s customized so you only pay for the benefits you need and want.  You can receive free health insurance quotes from brokers like Custom Health Plans, who guide you through the process of setting up your new plan.  Their fee is paid by the Carrier you choose, so this service for all intensive purposes is free to you so why not utilize it.

Portability

With the fluctuation in the job market, group health benefits can be very inconsistent.  Being laid off leaves you without the benefits that you and your family need, and even changing jobs can render you uncovered for a period of time.  To combat this, many people choose individual health insurance plans, even if their employer offers benefits.  This way, consumers can rest assured that their family will be covered despite any changes in their employment status.  You own it once you are approved.  It is usually a 12 month or 24 month guaranteed renewable policy, which means your plan cannot be canceled for any reason, other than nonpayment. Not even if you get cancer or diabetes.

Because money is tight, jobs remain uncertain and health care costs continue to increase, people everywhere are turning to individual Texas health insurance plans for customized , affordable and portable health coverage.

If students do not provide documentation of insurance coverage and submit an Insurance Waiver Form, they will automatically be enrolled into the SMU Student Health Insurance Plan (SHIP) and charged a $669.00 per semester premium charge. This premium charge is to be paid in addition to the health fee students pay each semester.  Even though the health fee allows access to some medical services, SMU is still requiring all students to acquire comprehensive medical insurance in order to “make sure they have the necessary medical care needed in case of [serious medical or surgical care requiring hospitalization].”

In addition, all international or embassy plans will not be accepted as valid health insurance. Any other individual health insurance plan considered as valid SMU student health insurance must have at least a $200,000 maximum lifetime benefit per accident or sickness, comprehensive in and out patient hospital care, physician coverage payments, pharmacy benefits and outpatient diagnostic coverage.

SMU Students will benefit if they obtain an individual health insurance quote or a short term health plan plan for SMU students through Custom Health Plans – specializing in Texas health insurance for students for more affordable, personalized health care coverage.  Custom Health Plans has local, knowledgeable health insurance agents who will educate and guide students to the right health plan for both their medical and educational needs!

Who knew that maintaining student health insurance would be a qualifier for earning a college degree?

First things, first…let’s define the difference between an individual health insurance plan and a group health insurance plan. Individual health insurance is a health care plan offered to individuals and their families (not just to individuals) through private insurance companies. Group health insurance is a health care plan sold to employers by these same private insurance companies at a discounted rate, depending on the size of the company (and the number of people covered).

What is not common knowledge is that individual health insurance plans are almost always CHEAPER than the cost of similar benefits with the same insurance company offered through a group health insurance plan!

So why would anyone get group health insurance through their company?

The primary benefits of group health insurance are received by the employee, not the spouse or dependents of the employee. If the employer is paying all of most of the premiums for the employee, then, essentially, the employee is receiving free money toward health insurance coverage. Also, group health insurance must cover every employee regardless of pre-existing conditions; therefore, the employee can save money through a group health insurance plan, if he/she has existing conditions that could deter them from being eligible from obtaining individual health insurance or that could increase the premiums of an individual health insurance plan. Finally, the primary benefit of group health insurance is the addition of maternity coverage. Most individual health insurance plans do not include coverage of maternity costs, though this option is available to be added by most private insurance companies. However, not everyone needs maternity options and why should everyone’s premiums be increased to cover those employees with pre-existing conditions, if you or your family don’t have any pre-existing conditions?

Because private health insurance companies can pick and choose who they cover under individual insurance plans, these plans are usually very affordable and far more customizable to the personal needs of the individual and their immediate family members. If your family is healthy and maternity coverage is not an issue, an individual insurance plan for your spouse and dependents most likely will be the most affordable and most beneficial option for your Texas health insurance needs.

In a time where the cost and quality of health insurance coverage is more important than convenience; Texans must look at other options, even non-traditional ones, in order to protect themselves and their families.