How Can I Save Money on Group Health Insurance in California?

While health insurance is essential for both your peace of mind, financial security, and of course your health, the cost of some health insurance plans can sometimes be prohibitive. Fortunately there are available options, such as group health insurance.



A group health insurance policy provides coverage to a group of people instead of an individual. In most cases, a group insurance plan is established by a company or employer as a way to offer health coverage to its employees. But companies are no longer the only organization to take advantage of group health coverage. It's becoming increasingly common for other kinds of organizations to offer a group health insurance policy. Today, group health insurance is used by all types of groups, from religious groups to trade associations, chambers of commerce, and even private clubs.



Advantages of Group Health Insurance in California



But why is group health insurance a more attractive option than an individual plan?



Group health insurance can help you save money in numerous ways. With several people on a group plan, insurance companies can earn a profit significantly more quickly than with an individual plan. As a result, group insurance plan premiums tend to be lower, making group insurance more affordable right off the bat.



Depending on your employer, you might not even have to worry about paying the premiums at all, Many California companies cover the cost of their employees' insurance premiums.



It should be mentioned that there are also non-financial advantages to group health insurance. Unlike individual plans, group plans established in California do not require a health history survey or even a physical exam on the part of the applicants. An insurance company will cover all employees under an employer's group policy. If you have a pre-existing health condition, you probably already know that it can be highly difficult-if not downright impossible-to obtain health insurance coverage. But group plans offer coverage to everyone in the group regardless of pre-existing conditions, age, and current health.



Saving Money on Group Health Insurance



Even if your employer doesn't cover your group health insurance premiums (or if you're covered under a non-business group plan, such as that of a club or church group) and you're responsible for making the payments, a group health insurance plan can still help you save money. As mentioned earlier, group insurance premiums tend to be lower. In addition, many companies offer their employees a choice of coverage plans. This can include the option to select between an HMO plan, PPO plan, or even a fee-for-service plan. Depending on the state of your health and any existing conditions, this choice might allow you to tweak your coverage in order to guarantee that you're not only getting the best possible price but that you're getting the most for your money.



Maternity and Group Health Insurance



If you are currently uninsured or underinsured and find yourself pregnant, you're likely to find it difficult to obtain individual maternity coverage quickly. In California, it is usually required that you hold an individual health insurance plan for at least a year prior to requesting maternity coverage. However, once again group insurance offers a means to bypass this system. If you're part of a group health insurance plan in California, you're immediately eligible for maternity coverage regardless of how long you've been covered by the plan.



Security



An employer's group health coverage plan can even keep helping you save money if you're laid off from your job. In most cases in California, if you leave a job that offered employer-supported group health coverage, you should be able to retain your coverage under the group plan for as long as 18 months. While you will be required to pay the premiums yourself, the group premiums are often significantly lower than those of an individual plan. This allows you to avoid the high cost of an individual plan, while providing you with enough time to secure new employment and a new group plan before the old one runs out.



In most cases, group health insurance is highly preferable to an individual plan. Group plans are affordable, flexible, and secure. They even provide coverage (in the case of pre-existing conditions and maternity coverage) to people who would be ineligible for an individual plan. Even if your employer doesn't offer a group health plan, you're not out of options. Check around and determine if any local organizations, clubs, religious groups, or other groups offer a group plan. If not, don't despair yet; if you belong to a qualifying group, you still have the option of initiating the group policy yourself.



As long as you start with the California legal requirements for an insurable "group" (at least three individuals), you're on your way to saving money.Medical-Ins offers full-service health insurance California for groups and individuals from a variety of insurance companies. Visit online today for a free quote or call 888-537-7948.