In the past, most people had employer health insurance. Their company did all of the research, chose the insurance company and picked plan options for employees. This is also called group coverage or group insurance. But, a lot has changed in recent years.
It’s more complex than just these three points, but the growing trend is for individuals to either partially or fully pay for their own health insurance. The good news is there are many affordable plans available. And, healthcare reform may provide you with additional benefits.
People who don’t have access to employer health insurance, like people who are self-employed or unemployed, can purchase their own plan that covers them and their family members. This is called individual health insurance. The good news is there are many affordable medical plans available.
Employer health insurance has the advantage of your premiums and costs paid or partially funded by your company, but individual health insurance plans have their advantages, too:
You may be able to lower the costs of your health insurance coverage.
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This calculator shows expected spending for individuals and families in a Silver Plan who are eligible to purchase coverage in the Federally Facilitated Exchange under the Affordable Care Act. Under the law, the maximum contributions to premium will be based on modified adjusted gross income, while estimates in this calculator are based on the annual income entered by the user. Based on the information you provide, you can estimate your monthly premium payments and also estimate how much you may receive in federal assistance. Please remember this is just an estimate.