When comparing family health insurance plans in Colorado, keep in mind that an apples to apples comparison is nearly impossible. However, Colorado regulations require that carriers provide you with a standardized "Health Plan Description Form" that is specific to Colorado.
Group Health Insurance VS Family Health Insurance in Colorado
In Colorado individual or family health insurance is usually far less expensive than group health insurance. This is contrary to what most people believe. The reason is that in Colorado, group plans must accept everyone in the group, regardless of their health. If you have health conditions, you may not be able to buy an individual or family health insurance plan - at any price!
Group plans usually require you to commit for a year at a time. Ask your employer. You should also know that your employer is usually required to pay half of your, but not your family's premium. Another advantage of a group plan is that your family's health insurance premium is usually taken out of your paycheck "pre-tax." This saves you money. The most important factor about an individual or family plan in Colorado is that you own it, not your employer. As long as you continue to pay the premiums, the policy is yours. Unlike auto insurance, you can't be singled out for a rate increase, nor can the health insurance carrier cancel your family health insurance plan based on your claims experience. Generally speaking, you can cancel an individual or family plan in Colorado at any time.
