Compare and Contrast Essay Sample on Employer-Sponsored vs Private Health Insurance Plans

Introduction

A medical insurance plan is a coverage that protects the entire or a portion of the danger of someone experiencing health issues, distributing the risk to a greater population of citizens. It involves the calculation of the general risk of the medical system. This calculation includes the medical care costs done by the risk system. There are two different health coverage insurance, employer-sponsored, and the private health insurance plan. This paper discusses their difference.

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An employer-sponsored health insurance plan is provided by an employer to the employee. Research shows that at least 60 percent of American people have an insurance plan from the employer (Long & Damico,2016). This plan is also called a group of health insurance. It has been chosen by many people for many reasons. The employer is responsible for a part of the expenses of health care. A private insurance plan is a plan that covers any health insurance which is not included in the government's funding program. This plan is meant to protect its customers from the high costs of health care. Most of these private insurance plans are employment -based. Most citizens have decided to use this plan for it has many advantages.

There are many differences between the two health insurance coverage plans, for instance, If one acquires the employer-sponsored insurance plan, one can get the benefits from the employer, which the other person with a private cover cannot (Barnett & Vornovitsky,2016). The employer offers a variety of choices of insurance plans. Some of the plans given have flexible terms. The employer also sponsors bills for whole or partly once-in-a- month health premiums. This plan enables the employer to remove part of one's share from the payroll when each payday is reached. The employer keeps the individual's plan file and can easily produce it when it is needed. An individual can ask questions on the insurance cover and get answers directly from the employer. The private coverage plans are available to persons who for particular reasons cannot acquire the employer-cover plan. These people buy private health insurance. This plan is different in that families can shop for a health plan which is favorable for the entire family members.

The persons can buy an affordable plan of their choice and are free to pay all its monthly subscriptions at a flexible time. The members also are educated on how to manage their own health insurance and its profits. This insurance plan can be available in some firms, managers and operational medical coverage vendors. In conclusion, it can be difficult to find the best insurance plan between the two. It is advisable that a variety of methods of making a decision is applied. One can put into consideration in the decision making, the financial affordability, the consumer facility evaluations, the insurance provider policy and the benefits given. Most options of the health insurance providers are either the Preferred Provider Organization Plan or the Health Maintenance Organization (Barnett & Vornovitsky,2016). Each option is favorable depending on the personal budget for the medical care benefits offered. Generally, the difference between health insurance plans is easy to distinguish. There is a need for individuals to weigh the advantages and disadvantages of each plan before choosing one of the best health insurance plans.

References

Barnett, J. C., & Vornovitsky, M. S. (2016). Health insurance coverage in the United States: 2015. Washington, DC: US Government Printing Office.

Long, M., Rae, M., Claxton, G., & Damico, A. (2016). Trends in employer-sponsored insurance offer and coverage rates, 1999-2014. Washington: The Kaiser Family Foundation.