Utah Group Insurance vs. Utah Individual Insurance

2. Utah Group Insurance vs.  Utah Individual Insurance

"Be sure to ask any health insurance company you're researching for small business rates."

Utah health insurance policies come in all shapes and sizes. But the two largest categories are individual and group.

Utah individual health plans are created for and purchased by individuals and their families. They generally require a detailed medical history and sometimes a medical exam to rule out any preexisting conditions. The plan's cost depends on the applicant's medical condition and lifestyle (e.g., smoking or not); applicants with serious medical problems may be denied coverage.

Utah group health insurance covers a number of individuals under one master policy, which is "owned" by an employer, a professional organization, a union, or other group. In most cases, no medical exam is required to take part in the insurance.

The cost of a group's policy is based on the group's demographics (including gender, age, health status, and number of dependents) and the nature of the group itself. In the case of a small business, for instance, the location and type of the business will affect the rates, with a tree-cutting service probably having to pay more than, say, a transcription service. But in general, group insurance is cheaper than individual insurance and the bigger the group, the lower the rate.

Don't rule out individual insurance entirely, however. Because the rates of health insurance for small businesses are rising so rapidly, individual workers may be able to get coverage at a cheaper rate than the group policy can provide. And with individual plans, your employees can choose for themselves the services they want.

 Learn more about Utah Group Health Insurance call: Bret Harding Ph. 801-372-2647, or visit: http://www.UtahInsuranceSolutions.com.