Private health insurance - It's a phrase that has been associated only with three types of people, namely the rich, the desperate, or the foolish. Rich because individual private health insurance has traditionally been expensive, desperate because those who are unemployed or self employed need medical insurance, and foolish because...well no explanations necessary.

Health insurance is a necessary evil. Unlike other countries, the United States does not have universal healthcare and citizens and immigrants alike are left scrambling to obtain coverage at the cheapest possible price. For years, the most cozy situation has been one where your employer provides you with the medical coverage that you need, while footing a part of the bill. Even now, this is surely one of the very best options.

Private health insurance, where the individual foots the entire costs of the medical premiums have been very expensive and unthinkable for most Americans.

Problems with employer sponsored health insurance

However, there are several cracks in the ideal scheme of employer sponsored insurance. First of all, the percentage of the premiums paid by the employer goes down significantly if you require family coverage. This means that you can end up paying significantly more - sometimes hundreds of dollars for providing your family with their medical coverage. This undercuts the very basis for employer sponsored healthcare.

Secondly, employer heatlhcare schemes lack a certain flexibility. Sometimes, the coverage provided is way too comprehensive and you end up paying for what you don't need. Unlike private health insurance, you can't tailor the plan to suit your specific needs. So if you're relatively healthy and consider yourself at a very low risk for out of the ordinary contingencies, your employer sponsored coverage will leave you feeling as if you're wasting money.

Finally, your employer sponsored plan is linked to your employer (naturally). Even with the recent amendment to COBRA which allows a 65% subsidy for 9 months, you still need to look out for yourself after that. For those who desperately need health insurance, this can mean sticking onto a job that is going nowhere and doesn't further your career - all for keeping your health insurance.

Private health insurance - the modern outlook

Private health insurance plans have been coming more into focus in recent years. Though they have the stigma of "expensive" hanging over them, they have silently been creeping forward as an alternative option to even those who are employed. They are no longer as expensive as they once were, and their flexibility is unmatched, allowing you to obtain the exact cover you need.

In addition, with today's employees job hopping frequently as well as the trend for small business not to provide health insurance, private health insurance is an alternative that can no longer be ignored. To be sure, there are disadvantages - you may not be able to get coverage due to a high risk profile or a pre existing condition, and no one is suggesting that private health insurance is better than employer sponsored coverage.

The only thing that is clear is that this alternative cannot be ignored any longer. You may be missing out on significant monthly savings if you do so.

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Michael Horvat is a health insurance expert and broker with HealthQuotes.com in Colorado Springs, CO. If you are searching for Colorado health insurance plans or quotes, please give Michael a call anytime at 800-345-0789.

http://www.healthquotes.com