Buying Group Health Insurance in California for Your Company- Know the Pros & Cons

Group health insurance is defined as the healthcare coverage through the employer that covers all individuals in a group. It is only available to employees of a company that has chosen to participate in a program offered by an insurer. While it is not mandatory for employees to enroll in this, many employers will actually pay a percentage or portion of the premiums making it an excellent way to obtain health care coverage.

If you are planning to buy group health insurance in California, then you should first understand the advantages and disadvantages of the same.

Group Insurance Plans- the Pros

Usually, in a group health insurance plan, the employer contributes about 50 percent of the "employee only" premium. So, you as an employee can get a richer health plan for less premium than you would pay in the individual health marketplace

One of the major advantage is that they have same health premiums for small and larger families. Unlike, the individual plans where you need to pay separately for every family member. So, if you are a big family, these health plans is your ideal choice.

In most states, group health coverage is guaranteed issue. This implies that you cannot be turned down because of pre-existing health conditions. If you or a family member has a medical conditions that prevents you from qualifying for an individual plan, getting group plans is a great advantage

Most of the health plans cover maternity. So, if you are planning on having more children, then you should consider group health coverage.

Group Insurance Plans- the Cons

Getting group health insurance plan is expensive as compared to individual plans. Indeed, if you don't factor in the employer's group insurance coverage, then opting for individual plans is your best options.

The biggest worry of the people in group health plan is what happens if their employment is terminated. Yes, you will likely have some benefit continuation rights, but they can be expensive and the term will also be limited

Knowing about the advantages and disadvantages of the group health plans will help you understand better which is right for you. Generally, every individual has unique health needs and requires a distinct healthcare plan for them. So, the most desired option is to consult a licensed insurance agency or broker who is well aware of the different plans and will understand your needs so as to recommend you with the best plan.

Finding a reliable insurance agency is now easy with the help of internet. A simple search on the internet will provide you with a number of insurance providers that are offering different healthcare plans for your individual and family needs. You should check with the particular provider’s existing clients so as to make the best decision for your family.

If you wish to purchase the small business group health insurance policy, you should think for participating in health savings accounts (Hsa) toward that you can make economical contributions.