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Group health insurance is broken because you have an employer picking a one-size-fit-all plan for employees and families with very different needs. As a result, most employees have NO idea what their health insurance plan is or what it covers.
The average cost to cover an employee with group health insurance has increased from $2,196 per year in 1999 to $5,884 per year in 2013. For family coverage, the cost has increased from $5,791 per year in 1999 to $16,351 per year in 2013. This is not sustainable for employers or employees.
Employer group policies may only be held by a company's employees. When an employee terminates employment, their family loses coverage unless they elect COBRA, which is often unaffordable.
With individual health insurance, employees choose the coverage and doctors that best fits their family's needs. Individual plans are categorized by four levels of coverage called "metallic tiers" to make it easy to compare options.
On average, individual health insurance plans cost 20% less than traditional group health insurance, and special "discounts" are now available for plans purchased in the Health Insurance Marketplaces. These discounts, called “premium tax credits,” will help eligible employees buy individual plans at reduced price.
Individual health policies are superior to group coverage for all employees because they are permanent and portable, independent of their employment. As a result, there is no more need for expensive, temporary COBRA.