Individual And Family Health Insurance
What Does Individual And Family Health Insurance Mean?
Individual and family health insurance refers to policies that can be purchased on an individual or family basis. Health insurers typically offer both types of plans to better meet the needs of their customer bases. While married couples often purchase individual health insurance policies, it is common for single parents or couples with children to opt for family health plans.
Insuranceopedia Explains Individual And Family Health Insurance
Many employer-sponsored health benefit plans offer both individual and family health insurance options. This is a valuable perk for employees, particularly those with dependents, as they can save significantly on these group plans due to the lower rates typically negotiated by companies.
Under the Affordable Care Act, having health insurance is currently mandatory in the United States. Therefore, all citizens must purchase either individual or family health insurance plans to avoid facing a financial penalty.
