With the health reform, there are now a number of different benefits you can secure with individual health insurance policies as employees and small businesses. The latest range of benefits are motivating more people to buy individual health insurance plans while at the same time shifting small businesses towards defined contribution health plan models. This is an important change in health insurance policies.
While most Americans secured health insurance through their employers earlier, there is no denying to the fact that employer health insurance is broken. It is expensive, employees don’t have choices, and they lose their health benefits when they switch jobs. As a result, most employees end up paying too much for their plan, don’t have any idea what’s included, and don’t take time to learn how it works.
The new advantages accelerated by the health reforms empower small businesses, as well as employees to take control over health care.
What Is Individual Health Insurance?
Individual health insurance is a policy employees purchase for themselves and their families through a licensed agent who is appointed by the insurance carriers or through the health insurance marketplace in your state.
Since the regulations updated on October 1, 2013, employees can pick out a plan that best suits their needs and keep it for as long as they want while saving money with the latest premium subsidies. In addition to this, small business owners can continue to cover employee health insurance costs by offering through monthly healthcare allowance.
While individual health insurance plans are not really new, the new benefits level the field with employer-sponsored plans.
Compared to employee sponsored health insurance plans here are a few benefits you can avail with individual policies:
- You can keep your plan even when you switch your jobs. This comes as a huge benefit compared to the hassles employees had to face when switching jobs earlier and then filing for insurance all over again.
- Employees can choose the specific network they want. This means preferred doctors, pharmacies etc.
- Employees can choose the level of coverage according to their medical needs.
- Individual health insurance plans also cost less.
Are you looking for affordable health insurance in NY that meets your needs? We offer Oxford Health Insurance in NY along with other carrier options like GHI, Aetna and Empire. Get in touch with us to learn more how we can help you find the right match! Empire Blue Cross,