Loading ...Group health insurance policy covers the medical expenses of many people unlike the Individual Insurance Policy that is for a single person.
Group health insurance policy has another advantage as it can offer health insurance to employees who were otherwise ineligible for individual health insurance plans. These are usually the people who have pre-diagnosed medical illness.
The group health insurance is mostly non-transferable. If one resigns and takes a job with another employer, the insured member loses the group health insurance plan. Some new group insurance plans that are transferable to other employers habe been introduced but these are not still not very popular.
Unlike Group health insurance plans, individual health insurance programs give the individual a policy where most needs are covered by the policy. These plans are customized and so they are more expensive than group health plans. A group health insurance plans are more popular with the employers as they can offer their employees insurance cover for some of the job related risks and are also much more affordable for the employers in case offered as a perk in salary.
Popularity: 13% [?]
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Health » Understanding Group Insurance - advantages & disadvantages // Sep 24, 2007 at 6:45 pm
[…] Rebecca wrote an interesting post today onHere’s a quick excerptGroup health insurance policy has another advantage as it can offer health insurance to employees who were otherwise ineligible for individual health insurance plans. These are usually the people who have pre-diagnosed medical illness. … […]
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