Group health insurance (GHI) is group insurance that provides coverage to a group of people. It is a type of coverage that protects an individual and their family. Employers can offer GHI, or it can be purchased on your own. If you are looking for affordable healthcare options, then group health insurance may be the best choice for you! Below are some reasons why GHI is a great idea.
Ease of Use
Group health insurance is extremely easy to use because you will only have one insurer and one card to pay your deductible with. You can use this benefit card at any doctor, hospital, or lab that accepts your insurance benefits. Also, if you receive prescription drug coverage as part of your group plan, then the same ease of use applies in regards to paying for prescriptions. With GHI, not having multiple cards and insurers to deal with makes life easier when it comes time to pay bills and claims.
Better Service
When a group plan provider knows members in their network personally, they are much easier to work with than when they don’t know them by name or face. The reason behind this is simple. A personal relationship with your provider makes for a better working relationship! If the members are faced with problems regarding bills or claims, they are best handled by professionals who know you personally. It is much harder to get someone on the phone when you’re not their customer. When GHI providers don’t have to work hard to try and keep customers happy, they will be far more likely to provide high-quality service.
Discounts
Have you ever gone to a doctor’s office and they told you that the next available appointment would be in five months? Then, after calling around to other doctors’ offices, you found one that could see you in two weeks. GHI providers are able to negotiate for better rates with hospitals and medical professionals. This means they can get appointments sooner for their customers! They also have many better-negotiated rates when it comes time to pay claims, saving members money when receiving care.
Tax Savings
One of the biggest reasons millions of Americans purchase group insurance is because of the tax benefits! Since group coverage is typically tax-free when received through an employer, many people opt for this type of coverage if they are in a position to receive it. If you are self-employed or unemployed, you can purchase group coverage for yourself and your family at a discounted rate! This also makes the rates often lower than what an individual plan would cost through an insurance provider.
Flexibility
Whether it is being able to choose the doctor of your choice, having your children covered on your policy until they turn 26, or even being able to go out of network if needed, having GHI provides members with lots of flexibility! There are times when people need additional services that aren’t provided in their primary network—having this option available means they don’t have to pay more money just because they want a specialist or a particular hospital. GHI providers typically allow for this type of flexibility in their members’ plans.
Stability
Have you ever been worried about losing your coverage due to a pre-existing condition? If so, then this would be a problem with an individual plan because those plans do not cover pre-existing conditions at first. Many companies have been around for decades to prove the stability of GHI providers and will likely remain in business well into the future. This means you won’t have to worry about your policy going away!
Save Money on Premiums
The beautiful thing about GHI is that employers can purchase coverage for employees who work less than 20 hours per week at a discounted rate through payroll deductions! This is why many people only look for jobs that offer group coverage, even if they want or need individual coverage. This makes the premiums much more affordable and can save members money in the long run.
Easy to Obtain Coverage for Pre-Existing Conditions
Even though GHI doesn’t start out covering pre-existing conditions, it can kick in after a year or so has passed! This means that if someone has an accident or becomes sick before their waiting period is up, they will still be able to get coverage through their employer and the provider’s policy without paying higher rates because of their condition.
No Claims Caps
If you have ever had to deal with claims caps on your plan, then you know how frustrating it can be. Having an annual claim cap is not something GHI providers do. This means people can get all of the care that they need without having to worry about exceeding their policy’s limits or paying more money than they should have to!
In conclusion,
Group health insurance providers can do everything that individual plans can do but offer these great benefits. They give their members the same protection, security, and peace of mind without the hassle of buying policies on an individual basis. This is why millions have chosen to purchase coverage through their employer or another group plan instead.
