Helpful agents are standing by: (888) 847-9158
Press play below to listen to our audio commercial:

Know The Advantages Of Group Health Insurance Over Individual Health Insurance

The main reason for issuing the group health insurance plans is to retain the employees and it also helps the growth of the company and its development. On the other hand, employees consider it as a requirement. It offers great advantages to both the employees as well as the employer. For the employer, it will help in providing faster treatment for his/her employees and thus ensuring speedy recovery from the illness. The employers receive credit as they help save employees and their families from serious medical conditions and the premium that is paid by the employer is deductible. For the employee it helps in reducing the waiting time for the treatment or diagnosis and thus focusing on their job without worries thus increasing the level of productivity. It also offers several benefits like the insured need not have to pay large premiums as the company will pay more than half of the premium for the employees.

Most of the companies encourage their workers to take health checkups once in a year in a hospital in which the company has its tie ups. It generally includes a complete check up like fitness, weight, height, blood pressure and blood tests. This is considered as an advantage because a person without a group insurance scheme will easily spend more than $150 for a complete health check up. Since the employer is providing special care it also boosts the morale of the employees. The scheme changes for different insurance providers. It is always necessary to compare different companies before selecting the best group insurance policy.

Employees get more lifetime and annual maximums when compared to individual policies. It also offers more protection for catastrophic illness and injuries. There are some additional benefits like dental and optical care can be purchased for a lower price. Even pregnancy cost can be covered at a low cost whereas individual insurance does not cover pregnancy cost until a special request is placed. You can even choose a licensed doctor of your choice. Generally, the premium is divided between the employees and the employer but if it is a very large company the owner will provide for the whole premium. Tax incentives are provided with group insurance policies. If the employee pays a portion of the premium along with the employer, the amount is considered non taxable. In case of individual policies, the person has to pay the premium for his salary after tax deduction.

There are many group plans offered by an insurance company that is affordable for the employers. Most companies offer customized plans as per budget, number of employees and the insurance needs. The price must not be the only factor for choosing a group insurance. The policy must have the desired level of coverage and the benefits and it must also reduce the cost of the premium and of the employer.

Just enter your zip code can find the quotes for the best group health insurance policies.