Group Health Insurance: Lower Rates for Employers and Employees

Many consumers can save money on health insurance by enrolling in a group health insurance plan through their employer or another organization. Group health insurance plans typically cost less because insurers can spread risk factors among a much larger pool of individuals, allowing them to manage their expenses more efficiently. Employer-sponsored group health insurance is the most common type and includes small group health insurance plans for small businesses as well as policies designed specifically to meet the needs of major corporations. Group health insurance quotes are an effective way to compare pricing and features for both employers and individuals.

For Employers

Providing health insurance to employees can help with employee retention and increased productivity by decreasing time lost to sick days and improving overall morale. Companies can choose among a variety of different large and small group health insurance plans that are designed to provide cost-effective coverage for employees.

For Individuals

For self-employed individuals and others who must seek health insurance coverage on their own, a number of organizations offer affordable group health insurance plans for their members. Older adults can usually obtain group rates by joining the AARP; this organization works to benefit those over 50 years of age and provides low-cost options for health insurance products intended to supplement Medicare coverage. The National Association for the Self-Employed is another good source for group health care coverage; a nonprofit organization, it was created to provide access to these kinds of benefits to entrepreneurs and small business owners at lower rates. Plans include HMO arrangements with significant reductions in cost for in-network services, preferred-provider network options, and traditional deductible-based services that pay a percentage of the cost of major medical care once the annual deductible has been met. Depending on the affiliations, occupation and age of the applicant, group health insurance can provide significant savings over the cost of individual health insurance policies.

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