[Health Insurance] 2, Individual vs Group Health Insurance

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Individual underwriting focuses on a single person's health, while group underwriting assesses the collective risk of the entire group. - Experience rating for group plans bases premiums on the group's past claims history. - Community rating for individual plans sets premiums based on geographical area, not personal health. - Group insurance naturally minimizes adverse selection because the group exists for reasons other than seeking insurance. - In a group plan, the employer holds the master policy, while the employee receives a certificate of insurance. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep