Employer Plans

Pros and Cons

Employer plans can be the BEST options for individuals. I usually recommend individuals to stay on their employer plan unless their employer is willing to give them a stipend towards an outside plan that gives better coverage.

For a family, it can be very expensive to add spouses and dependents to an employer plan, so sometimes it’s more cost effective to put the spouse and dependents on their own plan tailored to their individual needs!

Pros

- Usually provides great coverage

- Employer typically pays a percentage of the premium

- Taken out of paystub

- Can include PPO options

Cons

- Not always the best coverage

- Employer is not required to pay a percentage of the premium

- Can be very expensive to add spouses and dependents