Group Health Insurance Buyers Guide

You probably know that group health insurance is a type of insurance that is based essentially for a group of people in a single company or an organization. The cost of insurance is equally divided among all the member of the group. The group as a whole enjoys the different benefits of Group Health Insurance. The insurance company issues a master insurance policy or contract to the group’s employer or any of its affiliates.

Group Health Insurance is one of the best benefits offered by the employers to their employees. Group health insurance not only gives the employees a sense of security but also sends across a message to employees that the employer is concerned about their employee’s health. Companies spend huge amount of money every year on health insurance and the health insurance companies earn huge revenue from group health insurance.

Any company that have two or more employees are eligible for taking a group health insurance. The requirement for taking a group insurance differs in different locations. The one requirement that remains constant is the proof that the company's scale of operation is legal. The number of employees to be insured under group insurance coverage will determine the kind of coverage available for the employer. A company that employs more than thousand employees can get customized group health insurance plans with additional features and benefits.  Learn about small group health reform tax credits here at the IRS website.

There are several low cost group health insurance plans that employers can offer their employees. Low cost group health insurance is a very cost-effective way for employers to offer health coverage to their employees. In a group health insurance plan the insured gets health insurance premiums at affordable rates and the essential medial facilities. Almost all of the companies offer low cost group health insurances to their employees.

Some of the group health insurance policies involve participation of Health maintenance organization (HMO) and other big medical associations. Group health insurance policies cover both routine medical procedures and emergencies as well. Under the group health insurance, some employers offer annual health check-up to all their employees. The check-up includes comprehensive health check-up it includes blood test, height, weight and blood-pressure check-up.  In many cases group health insurance quotes may also cover health care of the employee’s spouse.

Due to the increasing cost of the prescription drugs in recent time, companies have experienced a significant increase in the cost of providing health care benefits to their employees. Several companies are even compelled to cut down on the benefits of the health plan and require their employees to bear high premium costs.