The health insurance marketplace is certainly challenging, but count your lucky stars that at least you have choices. To that end, this article is going to explore the pros of group health insurance plans in Hawaii.
Group Health Insurance Pros
Group health premiums are subsidized by the employer. Generally, an employer must contribute at least 50% of the “employee only” premium.
As such, if you are the employee, you can likely get a richer health plan for less premium than you would pay in the individual health marketplace.
However, the cost to add your dependents to the employer’s plan may be cost-prohibitive. In this case, and assuming that your dependents can qualify, then you may want to put them on an individual health plan.
Group health premiums for large families are the same as for small families; whereas, in the individual market, you pay a separate premium for every family member.
So, if you have a large family, you may be able to get a better deal by adding them to your employer’s plan. As with any insurance change though, don’t make any changes without consulting with an experienced insurance advisor in your state.