Find the best group insurance

Group Insurance

Group insurance is insurance that you can purchase, usually through your employer. Because the insurance is offered to a large group of people, it is often cheaper for you as an individual. The group insurance may be offered by a HMO (health maintenance organizations), a fee-for-service health plan or a PPO (preferred provider organization). The group insurance plans vary as to price of visit fee and whether or not you can visit the doctor of your choice or if you need to select one from the network of doctors given to you.

Many people who have a pre-existing medical condition that requires treatment may worry if they quit one job that they will be denied access to group health insurance at their next position due to the medical condition. Under the Health Insurance Portability and Accountability Act (HIPAA), employers cannot deny you access to group insurance because of any existing health conditions. However, you should be aware of a new employer's criteria for being eligible for group insurance. If you don't work enough hours, you can legally be denied access to the group insurance. Be aware also that when you start up group insurance with a new employer, you may be required to wait a certain amount of time before the coverage kicks in, sometimes known as a waiting period.

Many people think that if you leave or get laid off your job, you lose access to the group insurance company you had while employed. In 1986, congress passed COBRA (Consolidated Omnibus Budget Reconciliation Act). This allows you to still participate in your group insurance by paying for the policy yourself. It will be less expensive than paying for insurance yourself, but still cost more than it did when you were receiving it through your employer. It is still an excellent opportunity for people to be able to afford group insurance at a lesser rate.