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Can You Buy Your Own Health Insurance?

Yes. You can purchase your health insurance, and you don’t have to get coverage through your employer.

Depending on where you work, you may have the choice of getting employer-sponsored health insurance. This is known as group coverage. Due to changing economic circumstances, some employers have selected or been forced to cut group insurance as an employer-sponsored benefit. This has resulted in a growing number of people looking elsewhere to get covered.

While employer-sponsored health insurance may still be a choice for you, you may consider purchasing individual health insurance.

What Are the Benefits of Individual Health Insurance?

With employer-sponsored health insurance plans, your employer does the shopping for you. They select your coverage choices, and you choose from there. Nevertheless, when shopping for your health insurance – which is also called individual health insurance – you’re in charge of choosing your health insurance plan.

Some advantages to getting individual health insurance are:

• You select private insurance companies and plans that best suits your needs
• Your coverage is not tied to your work, so you can change jobs without potentially losing your health insurance
• You select a network that includes your preferred doctors and other healthcare providers
• You may be eligible for federal assistance to afford your insurance

What are the Benefits of Employer-Sponsored Health Insurance?

There are benefits to getting insurances through your employer. Typically, your employer will pick a coverage plan for you and you can decide to accept the advantages if you are an eligible employee.

A few advantages of buying employer-sponsored health insurance are:

• Your employer does the shopping and decides on your plan choices for you
• Your employer will basically split the cost of your premiums with you
• Your boss’s premium contributions are not taxed, and your contributions can be made on a pre-tax basis. This will lower your taxable revenue.

When Can I Apply?

You can apply for health insurance during the open enrollment period at the end of the year, which is from November 1st through December 15th for 2020.

If you have experienced a qualifying life event, you may be qualified for a particular enrollment period. Some qualifying life events may comprise a loss in coverage due to job loss or change, getting married or divorced, or becoming ineligible for coverage because of a change in income.

Special enrollment periods usually last for 60 days.

To help find the correct individual health insurance plan, enter your zip code where requested on this page to get a quote.

Call for your Quote Today

Stop waiting around! The right insurance provider is out there and we’re going to make sure you’re covered for the foreseeable future. Accidents can happen any time whether it’s day, night, workdays, or holidays. Insurance is the best way to prepare for the unpredictable, and a great way to secure your peace of mind. Give us a call today or fill out the form for a quote – you’ll be glad you did!

Resources and References:

• Benefits of Employer-Sponsored Health Insurance
• eHealth