What is Individual Insurance?
Individual health insurance is purchased by individuals or families on their own, separate from any business. Unless they are provided with employer-sponsored health insurance, most people are required to purchase individual coverage on their own or face a possible tax penalty under the Affordable Care Act (Obamacare). When buying their own individual plans, employees may have more control over what plan to choose, but they may end up paying more. As a small business owner, you might find ways to legally help employees afford health insurance, but the cost of individual insurance plans is ultimately the responsibility of the employee.
Individual health insurance is purchased by individuals or families on their own, separate from any business. Unless they are provided with employer-sponsored health insurance, most people are required to purchase individual coverage on their own or face a possible tax penalty under the Affordable Care Act (Obamacare). When buying their own individual plans, employees may have more control over what plan to choose, but they may end up paying more. As a small business owner, you might find ways to legally help employees afford health insurance, but the cost of individual insurance plans is ultimately the responsibility of the employee.