Group Health

If you have ever priced health insurance on your own, you will have discovered that the cost is akin to supporting a small island nation! Getting insurance as an individual is pricey however, if you participate in a group health insurance plan, you will reap a number of benefits. First of all, with a group health plan, risks are spread amongst many people, thus lowering the cost of the premiums to a more manageable level. Secondly, if you choose to participate in a group health insurance plan through work, employers typically underwrite a portion, if not all, of the expenses. Group health insurance is just one of the perks of the job.

Many employers recognize that to hire and retain good employees, you have to provide good benefits. Part of those benefits is a group health insurance plan. Because there are no one size fits all plans, you might even have a choice among different group health insurance plan models such as PPO, HMO, POS and EPO coverage. Each one offers something a little different, so you will have to read up on each one to decide with group health insurance plan would best suit the needs of you and your family.

An indication of a good group health insurance plan is some of the basic coverage options they offer. For instance, it makes good sense to cover yearly physicals and well woman exams one hundred percent. In addition, children’s immunizations should be standard with any group health insurance plan. In other words, preventive maintenance helps catch any illness before it gets too serious and costly.

If you or anyone in your family has an existing medical condition, you will have to be particularly diligent in choosing the right group health plan. Not all insurance companies will cover pre-existing conditions and others will do it at much higher rates. The bottom line is to base your group health insurance needs on what would best serve you and your family without detrimental consequences.

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