Group health insurance is a reality for many companies large and small, but it is 
not always the "advantage" that companies would want it to be. Even the most popular plans of the group can sometimes below expectations, and there are several reasons why it might not be the right solution for your business or your employees.
What group coverage?
in general, group health insurance is defined as a plan purchased by an employer for eligible employees and their family members. Is extended to employees for the duration of their employment with the company and ends when they no longer work there. Many companies offer these insurance plans as a benefit of employment and often contribute to the cost of monthly premiums. Here is how the majority of people in the United States receive health benefits, and if it can be an advantage for some employees, in some respects, even these plans may fall short.
The deficiencies in group health plans
health insurance has been regulated at the state level, but with the implementation of the affordable care Act (also known as Obamacare), the federal government now regulates aspects of the insurance market, and this is particularly true for individual plans and small businesses with 50 or fewer employees
Employer -. Based
Perhaps one of the biggest areas where group health plans do not meet is that they are tied to an employer, so that when you quit or lose your job, coverage of health care will, too. Having a family member who is ill and requires care could also cause you to lose your job. The consequences could be large medical bills are the leading cause of bankruptcy in the United States, representing 62 percent of all personal bankruptcies. Interestingly, and perhaps alarmingly, the same study by Harvard University showed that 78 percent of those who went bankrupt because of medical bills had health insurance coverage at the time.
higher premiums
group health insurance is expensive, and while your employer is often pay part of the monthly premiums, the truth is that most fonts 'group health insurance cost much more than individual plans would be, and sometimes the difference can add up to thousands of dollars per year.
limited choices
When you get coverage under a group health insurance policy, your employer chooses what will be included in this coverage, including doctors and hospitals are networked, and what your co-pays, deductibles, and prescription coverage will be. It is a one-size-fits approaching a very personal choice.
Conclusion
While many Americans like the idea of having health coverage as a benefit of their employment, the truth is that you could be able to save a significant amount of money and get better coverage that fits your situation by getting an individual plan.
group and individual plan costs Did you compare? Leave a comment about what you have discovered.
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