Group Health Insurance

What is Group Health Insurance?
Health insurance provided to members of a group of persons, as employees of one or more employers or members of associations or labor unions. The term is usually used to distinguish this type of health insurance from individual health insurance. One master contract is written to cover the group.

Small Business Health Insurance
If you own or belong to a business or organization with less than 50 people small business health insurance has lots of benefits for you. Besides providing medical care for yourself and your employees, a small business health insurance plan helps spread the financial risk between all the members, which usually means lower premiums and more extensive coverage for everyone. But group health insurance has tax advantages too. Employer contributions to a small business health insurance plan are generally 100% tax deductible, and employees save on payroll taxes. Small businesses (and certain organizations, like non-profits) are generally eligible for group health insurance so long as they can show two or more full-time taxable employees.

Key questions for evaluating a health plan:

  • Are there deductibles to be paid before the insurance begins to help cover costs?
  • What doctors, hospitals, and other medical providers are part of the plan?
  • Is there enough providers available in your area?
  • Can doctors outside a plan's network be used, if so, what are the costs?
  • Are there any limits to how much is paid in case of major illness?

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