Group-vs-Individual
Individual plans
offer lower premiums, but usually have fewer benefits. These plans are medically underwritten (you
must provide extensive health history) and you will pay a higher premium if you
smoke.
Group plans offer
better benefits, but will often have higher premiums than individual
plans. Most group plans are not
medically underwritten and premiums are generally based on the average age of
your employees.
Groups of this size have the least latitude and are often
best served with individual plans. Of
course, premiums can be billed to the employer.
Things to consider:
Ř Are
people in the group younger or older?
Ř How many
smoke?
Ř Are there
any serious health conditions within the group?
Ř What
level of benefits are you willing to pay for?
For this group size it becomes a bit less obvious. With five or more lives there are more group
options available. Of course the same
things need to be considered as with groups of 2-4. The average age of the group and the general
level of health are often most important.
Group plans are the clear
choice for companies with ten or more employees and you are encouraged to visit
the Group section. However, keep in mind
that many employees who are paying for their spouse or children through payroll
deduction are looking for less expensive alternatives. The individual plans have become an ideal
option for them.
Rates for individual plans are available on this site. Simply select Individual and
follow the instructions. Because of the
complexity and variables of group plans, these require detailed attention. As a result, group quotes can take a bit more
time to obtain. If group plans are
something you would like to consider, select Group. Complete the online census form, and submit
it. A detailed quote, showing all viable
plan options will be prepared and forwarded to you for review.
To discuss your needs further, feel free to call us at
1-800-877-8019.