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| GROUP HEALTH INSURANCE VS INDIVIDUAL HEALTH INSURANCE |
When it comes to health insurance, you have many options. You can choose to insure yourself and your family independently through a broker or you can be insured as part of a group. You will pay more for individual health insurance, but you will get coverage customized to the needs of your family. You can expect to pay less for group health insurance because the risk to the health insurance company is spread over the group, not just one person or one family.
It's always you who is healthily insured (this includes your family, as long as you purchase the right coverage). However, you can be healthily insured as part of a group. This is group insurance. The advantage is that, as part of a group, the risk to the health insurance company is spread over the group. Normally, this means that you pay less than what you would pay for individual health insurance. That's why group health coverage is so popular.
Anything that reduces their risk or increases the amount of money they collect in premiums means savings to you.
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