Group Health

People can experience significant injuries and illnesses with little or no warning, regardless of their commitment to health and safety. That’s why health insurance is a core benefit for employees. Ample coverage may help policyholders access essential medical services and preventive care without excessive costs, but health plans may be complicated and come in many forms. Group health insurance allows employers to offer their workforce coverage in a way that’s often cost-effective and can provide comprehensive coverage with shared costs.  

What Is a Group Health Insurance Policy? 

As its name suggests, group health insurance plans provide coverage for multiple insureds, such as employees or members of an organization. These arrangements are commonly created and maintained by employers, who then make coverage available to eligible employees. 

How Does Group Health Insurance Work? 

Group health insurance policies may provide a convenient and cost-effective means of acquiring and maintaining coverage for plan participants. When starting a group health insurance plan, employers may make several levels of coverage available for their employees to choose from (e.g., various deductibles). This can allow workers who elect to join the plan to customize their coverage according to their needs, preferences and budget. 

Employees and employers may enjoy various benefits related to group health. For example, those who opt in for coverage may enjoy lower premiums than they might otherwise find. This is because group health insurance policies allow insurance providers to spread risk across several parties. Furthermore, members of group health arrangements may enjoy lower taxable income. 

Employers may also enjoy various advantages from offering group health insurance, including tax incentives and assured compliance with Affordable Care Act mandates. In addition, offering workers health insurance may help them maintain their health and wellness while also potentially having a positive impact on employee engagement and company culture.
 

Who Is Eligible for Group Health Insurance? 

Coverage can generally be offered to employees on the company’s payroll. This means that independent contractors, retirees, temporary employees and workers on unpaid leave may be ineligible. 

In many cases, new hires may need to wait 90 days before becoming eligible to join a group health insurance plan and there may also be an annual enrollment deadline. Employees’ spouses and dependents are also often eligible for coverage and many employers may also extend these offerings to unmarried partners. 

Get the Right Coverage 

At P&C Insurance Services, Inc., our knowledgeable team has over 20 years of experience helping those in Waukesha, Milwaukee, Ozaukee, Washington, Racine, Kenosha, Walworth and Dodge Counties assess and address their coverage needs. Contact us today to get started.