Do you enjoy when people challenge your customary way of thinking? I do. That’s why I added Paul Zane Pilzers (author and economist) video to my website for his unique perspective on individual health coverage. He was interviewed on the WealthTracktalk program. He states, “if your spouse and children are healthy, run, don’t walk to get an individual health plan independent of your employer coverage” and here’s why. If you tie all of your families health coverage to an employer plan, all your eggs are in one basket. If you lose your job, your entire family will be  without coverage versus only you. Group/employer coverage costs are based on the health of that company’s employee’s. It is reviewed annually, and if there were claims submitted the year prior, chances are your employer will to take more from your paycheck in the next year. Are you a younger employee working with older colleagues? Then your picking up their health tab. When you chat around the water cooler is the discussion about family members health problems, or serious illnes in the past year? If so, you are helping to pay for those expensive claims. 

Now, is it smart to have the actual employee covered under group coverage? Absolutely, because the employer is paying 50% of that individuals coverage, but that’s where it stops. Spouse and children are not given the same deep employee discounts, and so your paying more for your family coverage than you have to. Pilzer’s advice is to purchase individual coverage while you are young and healthy. Why? You keep this type of coverage forever, regardless of layoff’s, illness, or if you choose to become self employed, and your monthly costs will only increase with age and inflation, it will NOT increase due to any type of illness. 

I encourage you to check out Pilzer’s 7 minute video interview on my site under the “Helpful Resources” tab. It’s an interesting perspective! 

Plan4HealthInsurance is happy to review your current health portfolio with you so you can feel confident you have the right, and least expensive coverage for your family.