Group Health Insurance In Florida

Understanding the rate development of your group health insurance policy should be a priority for all employers buying health insurance for their group in Florida. Groups of people may be members of a common society, employees working for a single employer or professionals of a common group. Coverage for more services is provided at much lower costs per participant. This is due to the fact that group insurance policies have many contributors. Entities like, Labor Unions, Churches and other service groups may seek group health insurance for their members and even their dependents. Morgan Moran, a group health insurance consultant recently said, "Employers need to understand how an insurance carrier develops their renewal."

If the master policy covering the group requires participation in a Health Maintenance Organization (HMO), then the candidates register as members. Some group insurance policies are associated with important medical groups like Blue Cross/Blue Shield. A candidate’s choice of a primary physician or a specialist may or may not be restricted by a major medical policy. A patient is often required to receive the services of a specified physician who will approve all visits to eligible specialists as deemed necessary.

A common feature in group insurance policies is that the premium cost for an individual is not based on risk. This cost is the same for all members of the insured group. For instance, all employees of a group receiving coverage will pay the same premium amount and receive identical coverage regardless of age or other factors. This contrasts private individual health insurance coverage in which premium costs for the same coverage vary with the candidate’s age, location and pre-existing conditions.

There are variations seen in the benefits that different companies offer in their group insurance policies. Nearly all group policies provide coverage for emergency and routine medical procedures inclusive of regular appointments with the doctor and management of accidents. Coverage for extended care in hospitals or rehabilitation centers is usually included in most group policies. However, the coverage may or may not extend to the employee’s spouse or dependents. While some policies offer assistance for vision care or dental work, the coverage may only be for specific procedures. With a co-pay provision, expenditures associated with prescription drugs can also be included in the insurance benefits.  "Employers can save a great deal of money setting up smart plan designs coupled with a strategic wellness programs, the majority of our clients see a decrease in cost and an increase in benefits with our plan designs, noted Moran. 

While group insurance is more accessible than individual policies owing to its affordability, there are a few disadvantages according to some people. They are of the opinion that the choices of physicians and treatments associated with an HMO plan are quite limited. Employers fearing large increases in premiums become unusually interested in their employees health status. Their interest may even border on private health issues.