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How group insurance plans differ from individual-private plans?
Wiki User
∙ 12y ago
The group insurance plans are ususally NOT portable, which means you can't take them with you if you change jobs.
Most group plans do not require proof of medical insurability, while majority of individual plan will require some underwriting.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoGenerally, group plans pay for more medical services and have lower co-pays and deductibles than individual plans. Group plans also are more likely to cover mental health services; individual plans may offer mental health services as a separate "rider" with a separate additional fee.
The insurer can set a price for group plans, knowing that the plan will get some healthy people and some sick people. The price for individual health plans is higher because people who are buying their own plan are more likely to need medical services; there is not a mix of healthy and sick people buying individual plans, in other words.
This will change when everyone is required to have health insurance in 2014. Then, insurers will have more healthy people buying individual plans.
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