Industry Insights

Should I Get Health Insurance Through My Employer Or My Own?


Health insurance is one of the most critical covers you need to have as it will save you from financial distress if you get an ailment or injury that will result in high medical bills. At Otto Insurance Group, among the questions that we get asked by Westerville, OH residents are whether they should get health insurance through their employer or on their own. Here’s a breakdown of employer-sponsored health insurance and individual medical insurance.

Health Insurance Options

1. Employer-Sponsored Medical Insurance

The pros of an employer plan include:

  • The cost of the premiums will be split between the employer and you
  • The employer handles all the work of picking plan options
  • Premium contributions from the employer aren’t subject to federal taxes. Additionally, you can make your contributions pre-tax, and this will lower your taxable income.

The cons of employer plans are:

  • Limited coverage remains if you change jobs
  • You have little freedom when it comes to choosing your preferred doctors and hospitals.

2. Individual Medical Insurance

The advantages of individual medical insurance are:

  • You have the freedom to choose the insurance company and policy that better meets your needs
  • Since your health plan is not linked to your job, you can change employers without losing your coverage
  • You can choose the hospitals and doctors that you prefer
  • You could be eligible for a federal government subsidy to help you pay for your insurance
  • You can change and renew your health insurance plans and insurer as you please during the annual Open Enrollment period

The cons of individual insurance are:

  • You can pay your premiums pre-tax and enjoy a lower taxable income
  • It can be a tedious process to find the right insurance company and pick the right policy and options

Do You Need Medical Insurance in Westerville, OH?

We at Otto Insurance Group are a market-leading insurance provider, and we offer unmatched policies and options. Contact us today to get the medical insurance you need.

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