Individual Texas Health Insurance VS. Group Coverage

Well, it’s that time of year again, open enrollment periods for many families on group policies at work. The details are overwhelming and the prices keep climbing. The solution? Why not look into moving your dependants over to a Texas individual health policy and you, the employee, stay on your group coverage. Most consumers find that a monthly price savings of several hundred dollars will be the reward in this practice. Group coverage at work is required by law to pay a percentage of the employee coverage and in most cases the coverage cost next to nothing, where the expense lies is in the dependants coverage. Look into securing private insurance, but in doing so proceed with caution, deal with experience and do it quick!

Before deciding to jump ship on those hefty cost being deducted form your hard earned paycheck there are several things that MUST be considered before making the move to a health insurance policy in Texas. First, are your dependants healthy? If so by all means get a Texas health insurance quote. I find that families paying seven or eight hundred a month for group coverage can save about three hundred dollars a month. Consumers looking into a Texas health insurance policy must understand that unlike group policies, individual policies can and will underwrite every health insurance application. Families with health conditions that are requiring medication MAY find it impossible to secure a policy without exclusions and limitations. Not to totally deflate your thoughts on making the move to individual health coverage in Texas but with health conditions it does make it more difficult to secure health coverage in the time frame you have to notify your group coverage of your benefit selection for the new year.

Next, deal with an experienced broker or agent that can walk you through what to expect when getting individual health insurance in Texas. Most times there are slight differences between group coverage and individual health insurance in Texas. An experienced agent understands these and will advise accordingly. Without knowing these differences the consumer can be in for a major shock at claim time.

Also, give your agent or broker enough time to assist in finding you a Texas health insurance policy. Just because you submit the application to a Texas health insurance company does NOT mean you are covered. The general process takes about three weeks to complete, sometimes even longer.. and of course lots of times even less but we are dealing with your families health care we need ample time for you to make a decision based on fact, not desperation. So many times in my sixteen years in the Texas health insurance business I have had consumers call are inform me they would like to get off their group coverage but they have to do something by “the end of the week”.. and today is Wednesday. We just can’t get that done. We generaly need a month but in extreme cases I can do it in two weeks.

A few safety nets are that during the next year open enrollment for heath insurance you can migrate back to your group policy.

So if you find yourself getting close to your open enrollment period and are tired of seeing all that hard earned money being deducted from your paycheck every week, call an experienced Texas health insurance agent, allow them to assist in get you several quotes, talk about them and proceed in saving thousands of dollars next year in health premiums. Your bank account will thank you for it!!