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An Overview of Group Health Insurance

Most people are not familiar with group health insurance or are even aware that such a thing even exists. However, the concept is something that most employers are familiar and deal with on a daily basis. In a nutshell, group insurance is basically coverage that an employer provides to his staff. In some cases, the coverage can even extend to include the dependents of the employee. Typically, the cost is split between the employer and employees. The insurance is usually preferred among companies because special tax benefits are often granted to organizations that provide group health insurance.

Statistics reveal that most employees place as much importance on health coverage provided by their employer as much as they do their salary. It is also true that businesses that provide group health coverage have an easier time retaining their employees and recruiting new workers into their team.

PhotoFor employees, group insurance carries with it tremendous benefits. One such benefit lies in the fact that employee coverage is guaranteed, and pre-existing conditions are covered right away in most cases. It also gives employees the assurance that they can access medical help immediately without having to go through multiple channels of logistical hurdles.

With the passage of the Affordable Care Act, group health insurance now pays all the costs for employees to undergo annual health checkups and screenings. Such exams include testing for high blood pressure, weight and fitness level. This helps to detect undiagnosed conditions and ensure that everyone is in optimal health.

Employers are strongly encouraged to implement some sort of group insurance plan. Not only is it a benefit for the company and employees, but it also shows that the company looks after their staff members, which helps to boost morale. There are many health insurance providers that offer some sort of group insurance for corporations and small businesses. Most insurers offer multiple options where employers can sign up their entire staff.