Health insurance is a written agreement between an insured person and the insurance provider, where the insurance provider agrees to pay for pre determined medical expenses incurred by the insured person, in a fixed period of time (usually one year). For this service, the insured person pays a regular sum to the insurer, or insurance provider, which is known as premium.

Health insurance can be availed in many forms. One of the most common forms of insurance is the Group health Insurance. The basic difference between an individual health insurance and a group health insurance lies in the fact, that, in group insurance, not one individual, but a group of individuals, opt for an insurance policy. So, the same terms and conditions are applicable to each individual in the group.

This way, a group health insurance policy, is able to provide health insurance coverage for many people under a single policy. A major advantage of a group insurance policy is that, the amount of per head premium is considerably lower than that in case of individual health insurance policy. Apart from that, another advantage of group health insurance policy is that, usually they do not require a medical check up.

Group health insurance can be availed by a number of organizations, such as professional associations, student organizations, religious organizations, employers and other groups. This way, group health insurance, is able to address the health insurance needs of a wide range of people. Most people are provided group health cover, by their employees, where, the employer pays the required premium.

A very important aspect of group insurance is the fact, that it is beneficial to both the employee, as well as the employer. This is an aspect, which makes it very much beneficial for you.

Group insurance can be availed in many forms, such as self-funded ERISA, Health Maintenance Organization (HMO), fully insured employer group, preferred provider organization, small employer group, large employer group, and group managed care. It depends upon the requirement of the organization, so as to, what kind of health insurance policy they, opt for.

Now, before, you go for a group health insurance policy, it would not at all be a bad idea, to hire a group insurance broker for this purpose. He/she can provide you with valuable guidelines in this regard.

Group health insurance, is an excellent option, as far as health insurance is concerned. It also helps in maintaining cordial relationship between the employer and the employee.

Tags: health care plans, medical insurance plans, what is group health insurance