Affordable Health Insurance in Charlotte
Affordable Health Insurance in Charlotte

Health insurance is no longer a luxurious purchase like it was in the past. It has become a necessity in order to ensure ample protection for your, and your family’s, health and finances.

Affordable health insurance in Charlotte can be obtained in generally two ways — through group or individual coverage.

1. Group coverage

Under group health insurance, the policyholder can be an association, a trustee, an employer, and others, and the respective members are the insured people. As such, if you’re an employee, you may obtain group health insurance through your employer; and other venues include trade unions and professional associations. Generally, policyholders such as the employer have the right to request changes, terminate, or continue with the group plan —decisions that can affect the coverage of all the insured individuals belonging to the group.

Employers are not required to offer group coverage. However, if the employer offers group coverage, the coverage must be offered to all qualifying employees. Despite being a voluntary choice, many employers choose to offer coverage in order to provide employment benefits. This can be attributed to the aim of gaining and sustaining the loyalty and good performance of employees.

Employer-sponsored group coverage is one of the easiest ways to obtain affordable health insurance in Charlotte, because premiums are generally low. Also, eligibility to obtain coverage cannot be based on your health status, although other grounds may validly disqualify you such as working less than 30 hours on a weekly basis.

Group health plans may also include family coverage, wherein being an insured person renders your family or dependents to simultaneously receive coverage. Besides employer-sponsored and family coverage, students generally have access to group health insurance through the group coverage offered by their colleges or universities. However, group health insurance is usually limited with its benefit options and other offerings, and the limitedness usually compels people to opt for individual health insurance.

2. Individual coverage

Individual health insurance policies are contracts between the insured individual and the private insurer.  In this case, the insured individual is at the same time the policyholder, unlike in group coverage. You may want to purchase an individual policy if you are concerned about the comprehensiveness of the coverage—in terms of addressing your particular needs and preferences.

An individual policy may be purchased to cover you alone, or also your family members—which is why individual health insurance and family health insurance are often interchanged terms. Furthermore, student health insurance can also be obtained through an individual policy. This is a usual option for students who don’t want to participate in the group coverage offered by their school. Schools generally require all students to have health insurance, and also allow students to obtain health insurance elsewhere.

In order for an insurance company to sell you an individual policy, you might be subject to medical underwriting: The company will review your health status, and decide whether to sell you a policy or not, or to sell you while limiting your coverage.  Because health status is also one of the bases of your premiums, along with other factors—applying while you are still young, and while having a good health history will heighten your chances of obtaining affordable health insurance in Charlotte through purchasing an individual policy.

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