Health is wealth, as they say, and this is especially true if you are trying to support your family. The good news is that most employers now offer health insurance plans for their employees as part of a benefits package are compounded when signing. But what about health insurance policies, in particular the policy group, work? How do they benefit you?
How health insurance policies work?
Generally, a health insurance policy is there to take care of all your medical needs and emergencies without having to pay for them immediately in cash. In most cases, you will pay a premium, or a monthly fee, to health insurance agent and in case of hospitalization, they will pay the rest of Your hospital bill after you have paid some of that. This is the initial payment you make is called the deductible and it will depend on the plan given to you. For example, if the plan you are stating that you have to pay, say, $ 30 per month but Your deductible only for the first two days of hospitalization, which means insurance companies will bear the rest of the Bill after you have paid for Your first two days in the hospital. Typically, the higher the premium, the larger the deductible.
What about group health insurance? Is there something special I need to know about it?
In the case of group insurance plan, is offered as a package from the insurance company to all members of a particular group, or the Chairman of that group. The advantage of this is that the people who would normally be denied individual health insurance can be covered by group health insurance. One of the first things insurance companies do is have you go through a complete physical examination to determine the health risks. If they find that you are a high-risk candidate, they may choose to reject Your policies. However, as regards to group health insurance, as long as you are a member of a group (or a corporation, in this instance the employer), you automatically get coverage.
Another important detail to consider is whether or not health insurance policy covers your family too. Another consideration is whether the examination of the teeth and the eyes and services included, and whether those policies have subsidies for prescription drugs. All these factors affect the price of Your premiums, which in turn affects Your deductible. In the case of group insurance, an employer is usually responsible for paying the premiums on all his people from the policy covers.
While the group insurance does have its advantages, it also has its disadvantages. Group insurance is generally not flexible like individual insurance so there can be tailored to meet the specific health needs of one of its members. Also, there are restrictions on the date of the subscription. Most employers require their employees to apply group policy within thirty days of starting work. After this period, the employee may be made to submit a physical performed by an insurance company which in turn can cause her to be rejected for insurance at all.