Insurance plans are still for sale on the government's Marketplace, but if you receive insurance through your employer, you do not need to buy it on your own. The problem is, are the pre-tax deductions on employer group benefit plans any better than buying your own insurance? This is a question that troubles a lot of people. By comparing the plans to those in The Marketplace, you can figure this out on your own. Here is how:

Create a Marketplace Account

Do not worry; creating an account in The Marketplace does not constitute a purchase unless you pick a plan and type in your credit card information. You are only creating an account so that you can view health benefit plans. Also, keep in mind that dental plans are separate, so you will need to pick the dental and health plans here that most closely resemble the benefit plans your employer offers.

Read the Benefits and Fine Print of the Plans Offered by Your Employer

Next, read the benefits and fine print of the plans offered by your employer. If dental is not included, you would have to buy that in The Marketplace anyway. You will not be able to read the fine print online for anything offered by The Marketplace, unfortunately. Compare your employer's plans to similar plans online. If there are any benefits that are missing or benefits that cost more because the discount is less, make note of it.

Compare Prices

Next, compare what your employer would deduct from your checks each month to what you would pay for similar plans from The Marketplace. Notice which plan would cost you less and which plan has better benefits. It may come out that your employer's plan is better, but it costs more, or vice versa. Sometimes, it is a matter of splitting hairs when better benefits are benefits you will not use or the difference in cost is just a few dollars.

Think about Convenience

While it may be inconvenient to have your checks docked two to four times a month, consider the overall cost you would have to pay in full by buying a Marketplace insurance plan for you and your family. Can you pay that much all at once a month? Most people cannot. At this point, your employer's group benefit plans look better and better, and you always know exactly when the money will be taken and can budget for it.

Contact a company like NFP, P & C, Inc. for more information and assistance.