Group - Group Health Rates Raising

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In recent years health insurance prices have soared, it's not only individual health insurance plans, group health insurance plans have felt the pain as well.  More and more people are seeking quotes to replace they're company sponsored health insurance.

If you are an employee at a small business which utilizes a small group plan, you are probably no stranger to extremely high rate increases.  Small groups, with 15 or less families on the health insurance plan seem to suffer the most.  This is because any claim effects the whole group in a big way.  The employer is probably in between a rock and a hard place, there is probably one or two employees who are utilizing the health insurance because of major health conditions, this not only raises the rates of the current health insurance plan, but it also puts a dampener on purchasing another plan at an affordable rate.

The only way for the employee to find affordable health coverage is to purchase an individual / family health insurance plan.  With individual plans you are typically banned together with a pool of people who like yourself had to qualify for the health insurance based on his/her health risk.  Considering everyone is relatively healthly when they are approved for the individual health plan, the rates tend to be more affordable.

If you are paying too much for your group health insurance, we would recommend that you get a quote and seriously consider an individual plan for you and your family.  There are multiple benefits to choosing an individual plan such as:

• Choices of benefits to suit your needs
• Most plans are can not cancel you
• Will not increase your rates because of claims

If you choose to purchase an individual plan, it is portable, if you change jobs, retire or get laid off, you can keep the coverage instead of paying for an expensive COBRA option.

You should also be aware that most individual health insurance plans will not cover pre-existing conditions, if this is of concern, it may be more beneficial to stay on with your group health insurance coverage.