What Is Group Medical Insurance and Why do you Need It?
Group medical insurance is an employer-sponsored health insurance plan for business owners, employees and often for dependents.
A majority of Americans have a group health coverage through their own or a family member's employer-sponsored group health insurance plan. Employers and employees can share costs and there are special tax incentives available to businesses that provide a group health insurance plan.
How Group Medical Insurance Works.
As an employer, you select a group health insurance plan and then invite your employees to enroll.
Typically, employers cover at least 50% of each employee's monthly premium, and can also contribute to dependent premiums. The remainder is paid for by the employee.
Is It Right For My Business?
If you want to provide group medical insurance benefits and you're able to contribute toward employee premiums, group medical insurance is the way to go.
Offering a group health insurance plan can help you hire and retain the best workers, and the amount you pay toward employee premiums may be tax-deductible. Since no one can be turned down based on medical history, group coverage also protects workers or family members who might otherwise go uninsured.
First, tell us about your company and employees. Begin by entering the zip code where your business is located and the number of employees, then click "Go". Then we'll show you a list of group health insurance plans and quotes from leading companies in your area.
Compare group health insurance plan rates and benefits to find the best match for your needs and talk with one of our licensed insurance agents for personal help.