The Co-Pay Conundrum

Paying a co-pay while employed is a benefit. Trying to do this while self-employed is another matter entirely.

Not a lot of people actually realize that there is a difference between a co-pay situation while working and wanting the same thing while self-employed. A co-pay arrangement offered to workers is actually considered to be a benefit and not insurance. The benefit to the employee is a perk for working at that particular company.

What happens when the employee leaves the company is that they are now responsible for getting their own health insurance. Since they have been used to the co-pay benefit, they expect that is what they will get when they get their own health insurance. Unfortunately, it’s not quite that simple. While that kind of insurance is available, the deductible is extremely high, not to mention fairly prohibitive, for just one person. Co-pay benefits are usually in the bailiwick of larger corporations.

Faced with trying to figure out what other kinds of insurance an individual used to co-pay benefits, usually causes a fair amount of confusion in terms of what to replace the co-pay arrangement with. While the answer might sound a bit flippant, it truly is what the person requires in their particular set of circumstances. Take those circumstances to a local insurance agent and get them to outline the various alternatives.

It’s going to be tough to go from one kind of insurance to another after having such good benefits in the first place. Most often what happens is the customer is really disappointed when they find out that what they expected to get is not what they can afford or are even eligible. Local insurance agents have been through this kind of scenario many times and have a wide variety of options for people to consider.

Most of the options offered will be affordable, and in some instances, may be as close to co-pay as possible. In all instances though, the insured needs to make some compromises in order to get what they need to suit the reality of their circumstances. Consulting an insurance agent is a no cost venture that will provide good advice and several quotes to consider.

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