Group health insurance is a benefit that many companies offer. Some people think that only big companies offer this benefit, but this is not true. In fact, smaller companies often times offer more options when it comes to group health insurance. And as you can imagine, more options usually makes things easier on you, the employee.
What is group health insurance? This type of coverage is relatively easy to understand. A group health insurance policy is one that you do not purchase on your own. In other words, the policy is not going to be purchased by you and put in your name. Instead, your employer shops for group health insurance and then purchases the coverage that they feel is best from a financial and coverage point of view. You may not agree with them, and you have every right to deny group coverage if you so desire. Of course, this is not always a good idea.
Many people wonder whether or not they have to pay for group health insurance. Again, this is a decision that your employer will make. Those that really want to make their employees happy pay the entire premium. Does it get any better than free health insurance? On the other hand, some companies offer a group health insurance policy but make the employee pay for a percentage of the premium. Even if this is the case you may still be able to get a better deal than you would by purchasing an individual policy.
Some companies are canceling their group health insurance coverage because of the high cost. In this case, you do not have a leg to stand on. In other words, you will lose coverage and be forced to find it elsewhere.
With this information you should have a better idea of how group health insurance differs from individual health insurance.
