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Purchasing Group Health Insurance from the Chamber of Commerce or Chamber of Horrors

By Donald Yerke

Republish: EasyPublish™ Published: 03May2008 Word count: 496 Viewed: 434 time(s) Get Free Content For Your Site

If you are self employed, or are with coverage, you face a big financial decision. Do you gamble right now in good health, and hope you stay healthy? Do you lose saving money now wagering on seeing too many family health members whose health has seriously eroded? The choice is yours, presenting some scenarios is mine.

Numerous people are thrilled to save $150.00 a year on home insurance. Others rake in an extra $300 by finding a auto insurer matching their demographics. But the king of insurance savings is the $1,200 or more families can save on buying group health insurance. Millions more people each year qualify for group benefits on a plan covering 10 or more members. If you have 1 to 9 members, you have another great choice.

With few exceptions, you can join the local Chamber of Commerce, and get on their group plan. Group Insurance coverage when compared to similar benefit individual health plans is often at least 10% as less costly. So if you were quoted $1,000 a month for a family benefit group plan, saving 10% equals $1,200.00 annually.

Only with an individual plan is your current health a major issue of cost and insurability. Any major health condition now or in the past will creep out to haunt you. For individual health insurance, you may receive a counteroffer to play 50% to 100% more for the health insurance. Additionally any claims on your health coverage for pre-existing and current health issues will usually not be eligible during the first 180 days. Paying a couple grand out of your own pocket is certainly neither a uncommon or pleasant emergency expense.

Enrolling in the Chamber Of Commerce plan is the route to go if you have current major health problems or pre-existing health conditions. The Chamber plan MUST accept you. And your current and past health flaws are covered in zero to 90 days. All this, and even unhealthy members pay the exact same cost as every other Chamber member.

Now look at the negative side of the group coverage. A Chamber established for a long time can be bad for you. Now you have numerous members over age 55 with countless health problems. Claims are constantly paid out, forcing rates to rise. Each year the insurer looks at the claims paid versus the benefits paid out. Your rates could zoom upward suddenly and you may be trapped. Certainly, if now you are one of the unhealthy.

Good health members, often opt for individual coverage when rates soar. This causes the insured pool to shrink further down to mainly medically prone members.. For those whose health has declined, they have no way out.. After your health declines, individual health insurance is no longer a viable option. Trapped into Chamber horror rates are not uncommon. Whenever the nightmare begins, there is one positive note, just be thankful that the government is not managing your important health future.

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