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Where Can You Get Health Insurance Coverage?
Home » Insurance » Health Insurance » Where Can You Get Health Insurance Coverage?Most Americans get health insurance through their jobs or are covered because a family member has insurance at work. This is called group insurance. Group insurance is generally the least expensive kind. In many cases, the employer pays part or all of the cost.
Some employers offer only one health insurance plan. Some offer a choice of plans: a fee-for-service plan, a health maintenance organization (HMO), or a preferred provider organization (PPO).
If you or your family member leaves their job, you will lose your employer supported group coverage. It may be possible to keep the same policy, but you will have to pay for it yourself. This will cost you more than group coverage for the same, or less, protection. A Federal law makes it possible for most people to continue their group health coverage for a period of time. COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985), requires that if you work for a business of 20 or more employees and leave your job or are laid off, you can continue to get health coverage for at least 18 months. You will be charged a higher premium than when you were working.
Not all employers offer health insurance. If your employer does not offer health insurance, you might be able to get group insurance through membership in a labor union, professional association, club or other organization. Many organizations offer health insurance plans to members.
If your employer does not offer group insurance, or if the insurance offered is very limited, you can buy an individual policy. You can get fee-for service, HMO, or PPO protection. Individual plan may not offer benefits as broad as those in-group plans. If you get a noncancellable policy, also called a guaranteed renewable policy, then you will receive individual insurance under that policy as long as you keep paying the monthly premium. The insurance company can raise the cost, but cannot cancel your coverage. Many companies now offer a conditionally renewable policy. This means that the insurance company can cancel all policies like yours, not just yours. This protects you from being singled out. But it does not protect you from losing coverage.
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