Group Health Insurance

It is estimated that more than 60% of the U.S. population that has health insurance receives their coverage through an employer that offers a group health insurance plan. It's no secret that employees value health insurance benefits, perhaps above all other benefits. Employers, on the other hand, like to offer comprehensive group health insurance as it tends to attract and retain qualified employees as well as reduces the company's turnover rates.

In the U.S., group health insurance is available in most states to companies with 2 or more employees. Often the number of employees covered under the group health insurance plan determines the types of coverage available as well as the premium costs.

For example, companies with between 2 and 50 employees are typically classified as a small group. Such businesses are eligible for small business, or small group health insurance; however, each state has its own set of regulations that determines what business can be classified as a "small business". It’s interesting to note that some insurance companies will market a “group” health plan to a single individual that is self-employed. In such cases, it’s important to realize that these “one-man” groups may not qualify for the same regulations that apply to larger groups.

Companies will thousands of employees may have their group health insurance plans customized for them by a health insurance carrier. Some large corporations will even choose to self-insure, with the health insurance carrier responsible for administering the health plans.

The primary difference between individual and group health insurance is that the plans offered to individuals (and “one-man” groups in some cases) are not be “guaranteed issue”. This is a significant difference and means that the insurance company cannot deny coverage due to preexisting medial conditions of any of the eligible employees within a group plan. The insurance company is allowed to ask medical questions, but can do so only for purposes of assessing the premium to charge for the group health insurance coverage.

As an employer, be careful when simply searching for cheap group health insurance. When shopping for any type of health insurance, it's always a good idea to look in terms of affordable health insurance, since this will yield a more realistic outlook as well as outcome.

If you are currently in the market for group health insurance, we would like to recommend the services of eHealthInsurance, an online health insurance broker that deals exclusively with health insurance. They have insured over one million clients, and can get you set up with free group health insurance quotes in no time at all, giving your all the information you need about various group health insurance rates and group health insurance coverage.

If you have not yet found what you are looking for, here's a convenient Google Search box: