Group Medical Plans are a way for a business to offer its employees a value-added benefit for being a part of the company structure. They are used by many employers to attract qualified employees and reduce their turn-over rates.  The employer is normally required to pay 50% of the employee premium. Most group medical insurance must meet minimum participation requirements, which are normally 75% of all full time employees. Usually, a company with between 2 to 99 employees is classified as a small business and may offer group medical plans. Many companies have thousands of employees and will have health plans customized for them by a health insurance carrier. Many of these customized plans may include additional benefits that would be excluded from standard issue policies normally included in the small business health insurance plans. Some large corporations may choose to self-insure and only use the insurance carrier to administer the health plans and benefits

Affordable group health insurance rates, in most states, are available to any company that has two or more employees. The eligibility requirements may vary geographically and most companies that are applying for large or small group health insurance plans will need to verify the legitimacy of their business operations, however, this is not necessary for the purpose of obtaining Health Insurance Quotes The number of employees insured under the group health plan may also determine the types of coverage available to the employer, as well as the per-employee premium.

Groups of 2-9 employees usually are required to complete health statements and questions. Groups of 10-99 may be required to answer health statements and questions depending on the carrier, however some carriers just ask a couple of general health questions on these groups. In a group moving from on carrier to another, pre-existing conditions are almost always covered.

Group plans almost always include maternity coverage while most individual/family plans do not. Those looking for maternity coverage may want to select group coverage in order to get maternity coverage. New group plans now offer coverage for dependent children up to age 26 to stay on their parent's plan regardless of student status. Group plans now offer 100% coverage with no co-pays, co-insurance, or deductible for certain preventative care services.

Any company from 2 to 50 employees can get a group medical insurance plan; the trick is to find an affordable plan. Because the group medical insurance plans to spread the financial risk between all members of the plan, your rates are typically lower than they would if you were purchasing individual insurance through the same insurer.

To receive more information on group plans either contact us or complete the Group Insurance Quote Request Form

Click on the links above to allow us to help you find the right provider for you group health insurance plan.

ShareTweet