What’s the difference between group and individual health insurance coverage?
The essential difference between group and individual health insurance plans is whether or not the plan is connected with a business. Group plans insure the members of the group without regard to the health status of its members. Group plans typically cost less and offer broad coverage. People who receive health insurance as part of their employee benefits are covered by group plans. Self-employed people and other individuals who qualify for membership benefits in a particular organization or association may also be able to get health insurance under a group plan. Individual plans, by comparison, take into account the individual’s health status. Individual plans are medically underwritten, which means that an individual’s medical records and history are evaluated for certain risk factors. Depending on the findings of the evaluation, coverage may be denied or certain exclusions can be attached to the individual policy. Individual health insurance typically costs more than group insu
