There are important differences between group and individual plans when it comes to applying for coverage, the most significant difference being exclusions on pre-existing conditions found in a person’s medical history, which for MS automatically categorizes us as high-risk individuals and uninsurable. People with pre-existing conditions may be unable to find affordable health insurance or any health insurance at all if they are unable to pass the underwriting process.
One the other hand, group plans cannot single out high-risk individuals; nor can they deny them health coverage. All individuals are covered regardless of existing health problems, and the costs of high-risk individuals become spread over the total cost of the group.
A third way, which I will not go into just now, is through government programs, such as Medicare, Medicaid, the Veterans Administration, and the Federal Employees Health Benefit Plan (FEHBP).
In a future post, I will discuss the differences between benefits found in group vs. individual health insurance policies. This is where it gets really interesting.
Until then, stay well and be healthy.
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