Florida Health Plans–Group Carve-Outs

With the premiums the way they are today, ever increasing, many people are looking for a solution to curb a Florida health plans cost. The nice feature about group health insurance is that everyone is accepted. Current or past health conditions don’t count against you. Usually, group plans are very robust with low out of pocket expense and nominal copays. It’s also common to have a policy with maternity coverage too.

The main issue with group plans are the cost. Most employees are unaware of the high price tag of these plans, until they inquire or are on COBRA. A COBRA plan will show the actual premium without the company subsiding the premium payment. More and more often these days, employers are pushing the rising cost of healthcare onto the employee. It’s not uncommon to see a family of 4 being asked to pay over $1,000/mo. for their coverage.

If you can relate, one solution to lower financial exposure would be to consider putting your family members on a private plan, while you keep your group plan in place for yourself. This can be done with ease, especially if your family is healthy enough to pass medical underwriting. We call this a carve-out. If you do this, what you’ll find is that your portion of the group plan premium is very reasonable. So reasonable that private Florida health plans might cost you more than the group plan. Most employers subsidize your premium, but make zero financial contribution toward your families premium share. I’ve seen premium reductions by up to half compared to a family group plan using this strategy.

If you are interested to see if this move might makes sense for you and your family, contact me for a quote. I will run you rates for plans that are most similar to your group plan. My direct number is 352-200-2066. You can also drop me a line by clicking here and filling out a contact request form.

Leave a Reply