Group Health Insurance

Many people worry today about not having health insurance. If you are self-employed, you may find health insurance expensive, yet without it, a single illness could ruin your finances. Small business owners need to think about coverage for their employees, but again, this can be expensive. Group health insurance offers great benefits to those who think they cannot afford health insurance otherwise. Group health insurance is also occasionally offered through social groups and organizations.

Group health insurance is often lower in price because it covers a group of people. For example, if you are a small business owner with ten employees, they can all be in a group health insurance policy. The insurance companies offer this type of policy because it profits them by having more people on their plans. One benefit of group health insurance is there is no need for a physical exam or for you to fill out a health history questionnaire. A drawback to group health insurance is that you may not have a say so in what type of policy you have (HMO or PPO). This means you may or may not be able to see the doctor of your choice. You may be given a list of doctor’s whom you may visit under this particular insurance plane.

Even if you are self-employed, you can still be part of a group health insurance plan. In many states, the term “group” has been defined as “groups of one,” so even those who are self-employed may qualify. To find out if your state offers group health insurance to those that are self-employed with no other employees, contact your state insurance commissioner’s office. If it turns out you are not eligible, check to see if you can be covered under the insurance policy of your spouse. While this may be more costly than having your own group insurance policy, it will no doubt be cheaper than purchasing insurance coverage yourself.

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