Do I have to accept the health insurance offered by my company?
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Asked September 20, 2013
One of the most common benefits offered to employees is the ability to participate in group health insurance. As the Affordable Care Act goes into effect later this year, most employers will be required by law to make health insurance available. The key is that group health insurance is available, not that it being provided to you. If you choose to use a different health insurance plan, that is entirely up to you.
Just because an employer offers health insurance does not mean that they have to pay all or part of the premiums. If your employer does pay a portion, buying your insurance through them may be cheaper than getting it elsewhere. Similarly, if your spouse has a better insurance plan available, it could be better for your whole family to use that coverage rather the one offered by your employer.
Before you buy into any health insurance plan, compare the costs. Start by getting a free online health insurance quote from this website to get an idea of what the policy is going to cost. Since this site also provides you with comparison quotes, you may find out that buying insurance through a broker such as this site is the lowest cost way to go. Once you have a quote to compare to, look at the policy offered by your employer, and use the comparison to determine whether your employer is offering the best deal for your family.
One item that should be considered when buying health insurance is the need to pay your bills if you are out of work for an extended period of time. To accomplish this, look for a plan that features "medical payments," such as what is provided by a company like Aflac. This type of coverage is sometimes bundled with group health plans, but can also be purchased separately.
Answered September 20, 2013 by Anonymous