• Group health insurance plans are cost-effective and therefore affordable for employees and the sponsoring company.
• Group health insurance provides coverage for both the employees and their families which is an attractive feature of employment for a company.
• Most companies with group health insurance have experienced a low rate of sick leaves as medical practices are affordable.
• Leads to a high quality of life given the affordability of regular medical check-ups.
• Group health insurances may have the advantage of tax benefits to companies.
• Employers can help protect the savings of their employees by providing them health insurance.

Choosing the right group insurance is relevant in ensuring all the needs of the group members are met. Some of the tips that can help an employer or a group of professionals pick the right group insurance service provider include the following:

• • The number of employees

IRDA stipulates that the minimum number of people in the group should be 20 to be eligible for group health insurance although it depends on the insurer and their policy. Some insurance companies can provide insurance to a group of ten people/employees.

• • The benefits

Intense research and discussion should be held among the employees to ensure that the insurance in question is able to meet each and everyone’s needs. The benefits should be aligned with the out-of-pocket funds, deductibles, requirements as well as the ability to pay premiums with respect to the employees’ income.
Some of the factors to consider with this option include the employees’ age, family members, medical conditions, and financial needs, number of dependents, and salaries and bracket employees in certain predefined categories. This way, the employers or professional groups could work with the insurer in customizing plans that reflect the needs of groups and individuals.

• • The premium and review rates

It is important to take note of the type of services being offered by the insurer as a package and not independently on the price of the insurance. Sometimes cheap premiums don’t mean the best insurer. Groups should put into consideration the benefits that accompany the insurance policy as stated in different plans. Proper research should provide a comparative review of a few selected plans from different insurance companies which can help assess the most suitable plan for their company.

• • The service provided by the insurance company

The best insurance company should be able to provide top-notch and the most reliable services. This is important as it ensures all the information is passed down to you and the group members on time detailing all the important aspects regarding the plans and insurance packages. They should have a reliable customer service that is helpful in responding to queries and giving viable directions. This is to guarantee an easy and seamless time at the event a claim is made.

Yes, group insurances have the option of tailor-making the insurance solutions provided by the insurer to ensure all the needs of different groups of people are met. Some of the aspects that can be used to customize a package for group insurance include:

• • • Type of coverage/insurance
    • Existing and pre-existing medical conditions
    • Waiting period
    • The availability of maternity coverage and the amount
    • The type of baby cover provided
    • Different types of illnesses
    • Policies that allow Corporate Buffer.
    • Policies that offer co-payments

Yes, there are. The quoted plan is the Basic plan, which is guaranteed acceptance. A group can upgrade and customize their plan to suite the finances, needs, and objectives.

This is a factor that will determine how much you spent on group insurance for your employees. You should determine if you feel obligated to offer low-deductible, full coverage, comprehensive health care options, which can be more expensive, or is a high deductible plan going to be satisfactory.

There is also an option of offering blanketed coverage, meaning one class, where everyone in the organization has access to the same benefits, or are multiple classes, such as executive/management and other employees going to be more suitable. It’s important to weigh your options against financial realities in choosing the best group insurance plan possible for your employees or participating members. You should understand that the choice you make will directly affect your employees and company in the years to come.

It is mandatory for small business owners with less than 50employees to provide group health insurance for its employees although the Affordable Care Act states that they should be aware when deciding whether to purchase insurance for their employees. If you do choose to offer coverage, there are regulations you will have to follow as directed by the insurance service provider. On the other hand, large companies may face penalties if they do not offer coverage under the Affordable Care Act.

• • • You will receive an official letter with the reason behind the denial from the insurer.
    • You will be presented with the right to submit additional medical evidence or appeal your case to a higher office.
    • Re-appealing is futile most of the time unless it is accompanied by stronger medical evidence.
    • With the first denial letter, you as the policyholder can make a legal claim if you are sure of your entitlement to the claim.
    • Always follow your doctor’s advice on your ability to go back to work.
    • If the insurance insists on working when the doctor doesn’t agree, you will need a dispute lawyer.