Individual & Family Health Insurance
In the state of Florida, there are many options to choose from when it comes to picking the right health insurance plan. We act as consultants on your behalf to make sure you get a health plan that satisfies your needs in terms of coverage and price.
At Florida Health Insurance Center we have access to the major health insurance companies in Florida including United Healthcare, Golden Rule, Aetna, Humana, Cigna, Assurant Health, and others. Whether you live in Miami, West Palm Beach, Fort Lauderdale, Tampa, Orlando, Jacksonville, Daytona Beach, Fort Myers or any other location in Florida, you can rest assured you are getting the best possible rates and benefits direct from top notch companies.
We offer every health insurance product line available including traditional Doctor Co-Pay plans, Health Savings Account plans (H.S.A.), Small Business Group plans, Short Term medical plans, Catastrophic plans, and Special Risk plans.
Florida health insurance usually provides either direct payment or reimbursement for expenses associated with illnesses and injuries. The cost and range of protection provided by your health insurance will depend on your insurance provider and the particular policy you purchase. If your employer does not offer a Health Insurance plan, you may wish to purchase Health Insurance on your own.
Individual vs. Group Health Insurance Plans
When you purchase an Individual Florida Health Insurance plan it now belongs to you and will follow you regardless of employment status. Employer Group Plans belong to the employer and will be lost if you change employment.
The biggest difference between Individual / Family Plans and Employer Group Health Plans are that Employer Group Plans are guaranteed issue (you can be insured regardless of medical conditions) while Individual / Family Plans go through what is called a medical underwriting process. During medical underwriting, everyone listed on the application will have their health condition evaluated and the insurance company can choose to do one of four things.
Once the underwriting process takes place on an Individual or Family plan, the Insurance Company has a good understanding of the insured's current health conditions. This identifies the claims risk for the insurance company and may result in a much lower monthly premium.
The opposite is true with Employer Group plans. Since the Insurance Company doesn't know the current health conditions of the employees they will be insuring under a Group Health plan, their claims risk will be much higher therefore the monthly premium can be as much as 2-1/2 times more expensive for the employer who is sponsoring the plan.
A popular option that can reduce cost for both the employer and their employees is to offer lower cost high deductible Health Savings Account Plans (H.S.A.). These plans generally have either a single individual deductible or single family deductible. Once deductible has been met the plan covers 100% of covered expenses. It also incorporates limited income tax deferred benefits.
In the State of
Generally speaking employers want to provide Health Insurance to their employees as a benefit to retain them. In order for the employer to qualify to offer Group insurance, they first must guarantee employee participation of 75% to 50% and have at least 2 or more employees on their payroll. The participation rate will depend on the insurance company they choose. Maintaining participation percentage has become more difficult and a growing concern for both the employers and the employees due to the increasing cost of Group Health Insurance.
The average cost for the employer in 2009 at the rate class of "Family" (employee, spouse and 1 or more children) is about $1,200 per month.
A similar plan for individual / family coverage may only cost $400 to $500 per month or even less if it just includes the spouse and children. The employee's cost on a group plan depends on what portion of the premium the employer is willing or able to pay.
Employer Group plans are great if the employer is able to cover a majority of the entire family premium but we are seeing more & more cases where the employers have been forced to only contribute to the cost of the employee's portion with little or no contribution to the rest of the family. The family portion represents about 75% of the full cost of the policy. The law only requires that the employer pay 50% of the employee's portion and the employer doesn't have to share in the cost for the rest of the family. We have seen an increasing amount of clients come to us just to cover spouses and children and the employee will remain covered by their employerıs group plans.
So what do we recommend?
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