First in Protecting, Your Most Important Asset.
Group insurance is an insurance that covers a defined group of people, for example the members of a society or professional association, or the employees of a particular employer. Group coverage can help reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than the wish to buy insurance, which might be because they are a worse than average risk.
To become one of our valued clients, please complete our quick online questionnaire or call us at (888) 588-7347.
What is a 'Group Health Insurance Plan'?
A group health insurance plan is an insurance plan that provides healthcare coverage to a select group of people. Group health insurance plans are one of the major benefits offered by many employers. These plans are generally uniform in nature, offering the same benefits to all employees or members of the group.
BREAKING DOWN ‘Group Health Insurance Plan’
Group health insurance plans usually cost less for participants than individual plans that offer the same benefits. This is because the risk is spread over the entire group, rather than one person. If the cost of premiums is borne by the insurer, then they are fully deductible, while any benefit received by group members is tax free.