Everyone needs health insurance to guarantee they can get the medical treatments they need. There are thankfully a lot of options when it comes to health insurance, but it can be difficult deciding which course is right for you and your family.

Group health insurance is generally offered through employers as part of an employee benefits package. This insurance can cover qualifying employees and their dependents as long as the employee works at the providing company. Group health insurance isn’t your only choice, however. You may choose not to register under your employer’s provided insurance and instead purchase an individual health insurance policy.

There is no definitive answer as to which of these is better, because everyone’s health needs are different. There are benefits and downsides to both.

Ups and Downs of Group Health Insurance 

With a group health insurance policy, the cost is shared between the employees and the employer. This means that premiums and deductibles can be lower with more employees involved. Group insurance may be easier to track and access through an employer, as well.

The downside is that employees don’t have a choice in what insurance agency they insure with. The employer chooses a health insurance provider to cover all employees, so while it may be perfect for one employee, it may not fit another. Group health insurance can also be more expensive on average. Another obvious downside is having health insurance tied to a job. Leaving a job without another one already lined up can leave you and your family without coverage.

Ups and Downs of Individual Health Insurance 

One of the main benefits of having an individual health insurance policy is being able to adjust and customize a policy for you and your family, as well as shop between insurance providers to find competitive prices. This insurance is also more affordable than group health insurance on average.

Individual health insurance policies also have their downsides, starting with the price. Although it’s more affordable on average, many insurance agencies charge hidden expenses and administrative fees for individuals that drive up insurance costs. These policies are more susceptible to jumps in premiums, as well, without the protection of spreading risk among employees as in group health insurance.

Before deciding on a policy, it’s crucial to weight the benefits and disadvantages of each to make the right decision for you and your family.