Group Health Insurance for Individuals through Work


Group health insurance for individuals is something that almost everyone looks for when they are looking for a job. It is a huge incentive to anyone when considering employment with a company since they will not need to search out private health insurance quotes on their own. Companies that offer an attractive health plan can attract more employees and many who want to stay there for a long time.

You need to know what group insurance is all about and then make a decision as to whether you want it. Basically it is an agreement between the employer and the employees to look after and share the costs of health coverage that is being paid for by them. There is one blanket contract or plan and all who pay into it are covered by that plan. Under the terms of the plan it is stated that if someone gets sick or needs any health related services than the health plan will take care of their needs and the costs will be covered by the plan as long as they have been specified in the plan.

Many companies offer group health insurance for individuals after they have been part of the company for a specified period of time. Companies are able to get better employees by having a health plan in place so that the individuals do not have to search out private health insurance quotes and be overwhelmed by companies trying to get their business.

Having a good health plan helps the employees feel better about working for the company and that in turn will cause the company to run better. They will also feel secure in knowing that the health care plan they have with their employer is far superior to the plan that is offered by the government.

Individuals who are searching for employment with a large corporation do so with the knowledge they are eligible for cheap group health insurance after the first three months of full-time employment. Have you ever wondered what happens with employees who are diagnosed with a catastrophic disease such as prostate cancer, breast cancer, lung cancer, or another long-term formidable disease? Employees who are diagnosed with a catastrophic earth shattering disease are at risk of being eliminated from the employer funded cheap group health insurance policy in order to keep the cost down for the other enrolled employees. This may not sound fair, but it is necessary or the cost to all employees with rise to cover the additional expenses.

Individuals who maintain a low cost health insurance policy will be exposed to the same fate and be eliminated from the health insurance rolls when the policy comes up for renewal. Unfortunately, this has been standard practice among the health insurance providers for decades and will continue into the future until the transfer to The Patient Protection and Affordable Care Act is completed. When this does occur, the employee and the individual are forced to seek out the state run health insurance of the state where they reside. In a sense, this is the government run single payer health insurance that all in the population will soon be a part.

The drawback to the state run health insurance over the cheap family health insurance is that the state is more likely to limit the amount of medical coverage you will receive. The state run health insurance is also able to approve or deny the prescription medication you are assigned based on the cost. The state insurance plans are there to help cover the immediate cost of all medical conditions through the low cost family health insurance they offer to recipients.

Group health insurance is normally employer-sponsored. This means that the employer takes responsibility for payment on a portion of health care expenses and its employees assume financial obligations for the remaining part. This balance between the employer and employee works toward making group health insurance coverage more affordable for all parties involved. Beyond cost-effectiveness, there are other advantages to employer-sponsored plans.

Enrolling in an employer-sponsored plan guarantees coverage for all employees who sign-up regardless of any pre-existing health care conditions. The insurance provider cannot increase group health insurance rates for individuals who match these criteria, which makes employer-sponsored plan excellent choice for employees in this situation. This insurance clause is as a ‘group-of-one’ and it enables all employees within an organization the ability to purchase insurance through their employer.

With group insurance plans, the larger the employer, the more negotiating powers they have over their rates and benefits. The reason behind this is that plan participant risk is spread across many members of the group versus a smaller business that may be more expensive to insure due to one employee’s illness. This flexibility is what allows employers to offer multiple health insurance plan options, as well as supplemental benefits, such as vision, dental and disability.

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