Company Health Insurance Benefits

A viable alternative to Company Health Insurance Benefits

In most instances, an individual applying for a position in a company reviews the health insurance benefits the company offers. Good healthcare benefits can often times solidify a potential employee on a position and likewise a poor health insurance benefit program can turn a potential employee away. Assuming your employer offers a fantastic set of health care benefits there are still problems.

Assume you're employed with this company at age 30. Your in great health, things are going well and the company is thriving. After working for this company for 15 years the company has problems and either lays you off or the company goes out of business. Now your 45 years old and not in the best health. You may have had some depression issues or perhaps some back problems. You can get health insurance through COBRA but it is very expensive so eventually you would like to get off of COBRA and get a more affordable health plan. The job market isn't great so you decide to work from home on your own projects. You apply for a more affordable health insurance policy and you get declined due to your health history. This is an extreme example and your situation could be different. Maybe you leave to start your own company, maybe you leave to take care of a family member, the point is that when you leave the company you don't take your health benefits with you, they stay with the employer. Once you lose these health benefits you will need to find and purchase health insurance and hopefully you can find a comparable policy at close to the same premium.

A solution for Employers that make Health benefits even more attractive!

A new trend in healthcare benefits companies are offering is individual health insurance policies where the premium is expensed. The employee is encouraged to find and purchase their own health insurance policy and each premium is then expensed so the employer is offering great coverage and a viable alternative to standard health insurance benefits. If you leave for any reason, you take your health insurance policy with you continuing your insurability and as long as you keep the policy in force you have very little to worry about. Sure you'll have to cover the premium but odds are it will be cheaper than COBRA and you won't have to be concerned about applying and possibly being declined.

If this interests you, ask your employer to look into it.