Group Health Benefits And Group Health Plans

Group insurance is insurance that covers a group of people, usually within a company. Most companies provide it as a benefit to their employees, although there are cases where the employees pay for their share of the premiums. Still, even when they are required to partly pay for premiums, the fact of the matter is that group health plans with their attendant group health benefits are better than having no health insurance at all.

What group health benefits can you expect from a group health plan? That really depends on the plan that your company is paying for. For the most part, though, you are covered for doctor visits, dental checkups and tooth extraction, the cost of medicine and hospitalization. Coverage ensures that you get access to at least 10,000 health providers.If you want to know what you are entitled to, ask your compensation and benefits department at the HR.

If you are looking for a group health coverage plan, you should know that there are many plans out there that you can choose from. Your best bet for finding the best one is by going to Google and typing in “group health insurance quotes”. From there, you will be taken to websites that generate quotes from the different insurers.

Just like anything else related to insurance, not all group health insurance plans are created alike, with certain insurers being better. By better, we mean that they offer more in the way of coverage and terms and conditions. Do insurers require health checkups for employees before coverage? Some do and some don’t. That’s why it’s very important for you to check different plans before deciding.

Please take note, though, there is a minimum number of employees that insurers require before agreeing to provide coverage. Most require 50 employees. If you are too small to qualify for group insurance, you can apply for wholesale insurance. Wholesale insurance means that each employee is covered by an individual plan, however, the price of that plan is at wholesale.

Group health plans have policies written to provide health benefits for employees through blanket coverage, and no individual plan needs to be written.

How much does group health insurance costs? According to a survey done by the Kaiser Family Foundation, the average is $6,251 per year for each employee. Most employers pay 83% or $5,179 of that amount while employees pay the remaining 17% or $1,071.