There are several scenarios in Loveland, Fort Collins, Greeley, Longmont, Windsor, CO, and the surrounding areas where having an individual health insurance policy is the right answer. At Volk Insurance Benefits, we have seen the demand for individual health insurance policies continue to rise, and there are several factors behind this shift. The largest reason for the change is that more and more people are choosing to work remotely, and this remote work isn’t providing the group health insurance options that many have been expecting. This is forcing people to find their own health insurance coverage. With Individual Coverage Health Reimbursement Arrangements, ICHRAs, this is providing more of a demand for individual health insurance as well, as it shifts the burden of dealing with the health insurance to the employee, even as the employer provides funds to pay for that health insurance. Contact us today to learn more about the individual health insurance market.
ICHRAs And What They Mean for Individual Health Insurance
Health insurance itself has been changing since it was first offered, and the main thing that everyone needs to know is that change is constant. However, the rise of the ICHRA option over the last 4 years since it was introduced has been swift as both employers and employees realize how this can change things, and hopefully for the better. People want to have health insurance that is responsive to their individual needs, and now ICHRAs are providing that option.
Because individuals are now more involved in choosing the right individual health insurance policy that meets their needs, insurance companies now will need to compete more to capture these increasing numbers of people getting their own health insurance policy rather than dealing with the more captive audience of group insurance options.
Health Insurance Is More Portable
Having your own health insurance policy means that you don’t have to worry about losing your health insurance if you leave your employer for a better opportunity. Because people tend to switch jobs roughly every 4 years now, this portability is important for health insurance continuity. And all of the associated paperwork that needs to happen with group insurance plans when an employee arrives is no longer an issue.
Over the coming decade we will see many more people in Loveland, Fort Collins, Greeley, Longmont, Windsor, CO, and the surrounding areas wanting to get their own individual health insurance policy. At Volk Insurance Benefits, we will be ready to help you to evaluate all of the different individual health insurance plans so that you can get the right policy that suits your unique lifestyle. Contact us today to learn more.