Group Health Insurance

Getting Group Health Insurance

One of the best ways to get affordable health insurance plans with excellent coverage is through group health insurance. If you are an employer or the head of an organization, your group status entitles you to deep discounts for individual health insurance, family health insurance and other health insurance plans. Just as your organization taps the synergy of teamwork to boost productivity, being covered by group health insurance allows greater coverage and lower costs for all of your members or employees. Save money on your group health insurance plan by carefully researching your options. Begin with a fast, simple and free quote on group health insurance from HealthInsuranceCoverage.com.

Benefits of Group Health Insurance Plans

Aside from the better coverage, group health insurance plans offer several tax benefits and savings for your company and employees. These include:

• Premium Write-offs: When you are an employer, you are allowed to write off 100 percent of your premiums that you pay towards health insurance.
• Health Savings Accounts: Health Savings Accounts or HSAs, are beneficial for both employers and employees. An HSA is money that is set aside specifically for the purpose of medical care. Contributions to an HSA are tax-free and can be written off from state and federal income tax.
• Wellness and Lifestyle Programs: Many insurance companies cover programs that promote healthy lifestyles and preventive care. Through a group health insurance plan, your employees and their families may be eligible for discounts on yearly teeth cleaning, exercise programs, smoking cessation programs and more.

For all tax-related savings, make sure to retain all statements and receipts, as well as proof of your insurance plan. This information will be vital if you are audited.

Family Health Insurance Plans

Group health insurance has the added benefit of covering entire families as well. This is particularly advantageous for households where only one member of the family works full time. This also allows one spousal partner to be an at-home parent or pursue artistic or entrepreneurial ventures without having to worry about healthcare coverage. Households with two full time workers also can take advantage of overlapping family health insurance plans by combining the benefits of both group health insurance programs to provide maximum coverage for the entire family at the lowest rate.

Before choosing a group health insurance plan, be sure to compare and contrast the coverage to another similar plan in order to save your family the most money possible.

Comparing Online Health Insurance Plans

There are a couple key terms and concepts to consider when comparing online health insurance plans. These include:

• In-Network vs. Out-of-Network: This is where most plans differ. Your "network" is a group of approved healthcare providers chosen by your health insurance company that provide you greater coverage at a lower price. How networks are treated differs between plan types, for example: A PPO network allows you high flexibility and the ability to reach out to out-of-network providers; an HMO network has less paperwork, but requires you to visit your Primary Care Physician (PCP); and a POS network allows you greater flexibility, but higher out-of-pocket expenses.
• Specialists: Plans also differ on how they treat specialists (i.e. dermatologists, allergists, physical therapists). For example, HMO plans require a referral to see a specialist while a PPO allows you to see any specialist within your network.
• Prescriptions: Prescriptions are typically handled on a deductible or co-pay plan. The most advantageous plan depends on the percentage of the co-pay or the ceiling of the deductible. You also want to ensure that your particular medications will be covered.

Finding the best rates on health insurance is easy as a group. Simply fill out our quick and easy form and receive a free comprehensive quote on group health insurance.