Group health insurance
Group health insurance is a type of insurance coverage that is bought from the insurance provider by the employer, which is then offered to the employees of the company. Sometimes, it is also offered to the family of employees. Group health insurance is provided as a benefit for working by the employer. In countries like United States, group health insurance is quite popular as most of people here have been insured by means of this insurance provided by employer or by the employer of any family member.
Since health insurance coverage requirements of different employers are different, one finds various types of plans offered under group health insurance. This type of insurance is generally regulated by the state government and thus, laws governing group health insurance may vary from one state to another. Group health insurance is generally bought by small business owners who have less than 50 employees working with them, though large employers are also eligible to buy this type of health insurance. The premium rate for a small business employer is different from the large insurance employer. As per the federal laws in United States, small business employer or an individual employee cannot be denied group health insurance by any insurance carrier, irrespective of the pre-existing health conditions of the small business group members. This aspect is also called as guaranteed issue in the United States insurance industry. All the insurance companies are required to renew the small business group health insurance contracts unless there is non-payment of premium by the employer or he has not complied with the instructions contained in insurance contract.
There are some states in U.S where insurance companies have been allowed to examine the medical histories of individual group applicants for any type of pre-existing medical condition and it can also decide not to provide group health insurance cover for a specific time period. It is called as pre-existing condition or exclusionary waiting period in the insurance industry. But in no case, look back period can be extended more than 6 months as per the federal law. In case of pre-existing conditions, this period has been restricted to 12 months.
There are many group health insurance companies in United States. For example, Group Health Insurance is one such provider. It is located at P.O. Box 1086 Janesville WI. It can be contacted over phone at 877-279-7959. Group health insurance provided is aimed at reducing the cost of human resources budget and satisfying the health insurance needs of employees at the same time. It also offers a limited benefit medical plan to business employers for meeting the health insurance needs of hourly employees. All the types of group health insurance plans offered are voluntary. Key features of group health insurance provided include pooled national rates, no administration or set up fee, no provider networks, self billed program, no bill reconciliation, coverage for off-the-job sickness, accident etc. By getting group health insurance from this source, a person an easily reduce the overall healthcare spending in the unit, reduce absenteeism and turnover and can reduce the workers compensation claims.
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