an organization is only as healthy as its members.
What is Group Health Insurance?
A group health insurance policy is purchased by an employer (or employee organization) and is offered to eligible participants, and to eligible dependents of participants. With group health insurance, the risk is spread over the company -- the number of participants covered.
There are several types of group health insurance plans including:
1) PPO Health Insurance Plans. This is the most common plan. Employees covered by a PPO plan need to get their medical care from doctors or hospitals on the insurance company’s list of preferred providers in order for claims to be paid at the highest level.
2) HMO Health Insurance Plans. These plans offer a considerable range of health care services through a network of providers that contract exclusively with the HMO, or who agree to provide services to members. Participating members of these plans will usually be required to select a primary care physician to supply most of their health care.
3) HSA-Qualified Health Insurance Plans. These are typically PPO plans for use with health savings accounts. A health savings account allows those covered to save money – pre-tax – and use it on medical costs in the future.
4) Indemnity Health Insurance Plans. These plans allow participants to control their own health care and usually this means they can see any doctor or visit any hospital. The insurance company then pays a pre-set amount of the overall expenses. In some cases, employees are required to pay for some health care services up front and apply for insurance company reimbursement later.
Group health insurance is also referred to as employer-sponsored health insurance. Like any commercial insurance plan, the best coverage starts with a comprehensive review of your company's unique situation. Our insurance consultants will assess your company's needs, explain your options, and develop a specialized plan. Mathenia Insurance Group's access to the best carriers in the nation means that you will get a great price, too. We look forward to serving you!