What is a group health plan?
Employer group health insurance or group health plan is a type of employee welfare benefit plan. The plan is established and maintained by either the employer or the organization or both. It provides medical care and insurance to the participants. The group health insurance may offer health insurance, life insurance, or any type of personal insurance. Get the best company group health insurance for your company at affordable rates. Receive expert advice and suggestions. Get in touch with us and enjoy the best plans for yourself as well as for your employees.
What are the benefits of a group health plan?
The benefits of having a group health plan are:
The biggest advantage of having a group insurance plan is that it is affordable. Compared to individual health insurance the group health insurance comes with more benefits at a reasonable price.
- Bigger is better
The bigger the group the better will be the benefits. Bigger groups mean that the price will be cut down into more pieces, making it easier to get great deals at lower prices. If we sum up, we will enjoy the following benefits:
- More coverage is provided for the pre-existing conditions.
- Lower insurance cost
- Better plans
- Tax incentives
By group health plans both the employee and employer are benefited. The employer receives the benefits in the form of health care tax credit. This tax credit is offered to those businesses that provide their employee’s insurance and pay some part of the premium. These businesses might get qualified for receiving credit back on the taxes.
- Happy and healthy employees
This is the hidden benefit of having group health insurance. The employees feel more comfortable and connected to their work. The relationship between the employer and the employees is valued and appreciated. The work environment gets filled with positive energy and thoughts.
Is a group health plan cheaper than an individual health plan?
Group health insurance plans are more affordable compared to individual health plans. The benefits provided by the insurance plan are also better than the individual health plans. Additionally, the group health plans cover many health aspects at affordable prices.
Are you still confused about whether to choose individual or company group health insurance? Well, we have got answers to all your queries. Feel free to ask for any corporate or personal insurance.