CNN interviews Paul Zane Pilzer on Defined Contribution Employer Health Benefits See video
A lot of us get our health insurance coverage through our employers, but is that the best way to do it? Some say you may be better off getting coverage on your own. Good news for roughly 47 million Americans without protection at all.
Individual insurance is a policy that you purchase direct for your family from the local Blue Cross or major carrier in your state. Those policies today are, on average, less than half of the price for the same coverage of an employer policy.
We've seen a whole revolution now that the states have liberalized their individual insurance policy laws. Today you can purchase good, high-deductible coverage, which is all most people need, for about $90 a month per person in all 46 states and soon it will be in all states.
You're much safer having health insurance that doesn't terminate when your job terminates. Health insurance with an employer is not insurance because the moment you get sick and can't come to work you lose your health insurance.
They can never raise your premium under federal law for the rest of your life if you get sick once they take you. So 90 percent of employees who are healthy can get health insurance with the same benefits from their employer for about half the price and then the premium can't go up if they get sick.