Group health insurance contracts can be renewable each year, and the insurance laws of the state provide for this as mandated, provided also that the employee is not remiss with the premium payments. It can be at the employer's discretion to continue providing group health insurance to their employees, but if they are considered large employers or those with 50 or more employees, they are obligated to offer this to their employees. Those considered small employers, or with less than 50 employees can opt to continue with providing the group plan, although this can also be the better motivation factor they can offer to employees.
Insurance premium rates to be paid will be determined on the amount of participation in the cost of premiums to be shouldered by the employers and other factors that are to be considered. History of previous claims can also affect the amounts of insurance premiums to be paid. Past histories of claims made, not necessarily with the individual beneficiary only but the whole group as well, can have influence on the amount of insurance premiums. Overall costs of providing the health insurance coverage, especially if these are continuously rising, can also have influence on the premium costs.
It can even be observed that other companies, those not qualified to avail of the group plan, or with employees of less than 50, are also offering some sort of insurance plans to their employees. They see it as a good way of attracting the best employees available and also the better way of motivating present employees to perform their best, because of the many medical and health benefits they can avail of.
Basically, group insurance plans offered by employers will benefit employees in terms of savings incurred, compared to what employees will pay premiums to standard insurance plans. For group insurance plans, employers pay a portion of the premiums, thus already big savings to the employees. This can also be a source of motivation to employees, to give their all while in the services of the company, because they have an insurance plan for their medical and health needs, and can even be for dental and optical needs, depending on the type of group insurance plan given.
However, employees may get insecure especially in cases where they lose their jobs, there is a job change, or whatever reason there is, and they will not be able to keep their group health insurance coverage, although temporarily. Most people can still be able to continue their group coverage, and there is a program for this, and they just need to ask for information from those concerned.
Employees in these large companies cannot also be excluded from availing of the group medical and health insurance plan, provided that they are eligible for this, and even if the basis is their medical history and claims filed. Provided that the insurance contracts are renewed and premiums are constantly paid, they can avail of this group plan.
Insurance premium rates to be paid will be determined on the amount of participation in the cost of premiums to be shouldered by the employers and other factors that are to be considered. History of previous claims can also affect the amounts of insurance premiums to be paid. Past histories of claims made, not necessarily with the individual beneficiary only but the whole group as well, can have influence on the amount of insurance premiums. Overall costs of providing the health insurance coverage, especially if these are continuously rising, can also have influence on the premium costs.
It can even be observed that other companies, those not qualified to avail of the group plan, or with employees of less than 50, are also offering some sort of insurance plans to their employees. They see it as a good way of attracting the best employees available and also the better way of motivating present employees to perform their best, because of the many medical and health benefits they can avail of.
Basically, group insurance plans offered by employers will benefit employees in terms of savings incurred, compared to what employees will pay premiums to standard insurance plans. For group insurance plans, employers pay a portion of the premiums, thus already big savings to the employees. This can also be a source of motivation to employees, to give their all while in the services of the company, because they have an insurance plan for their medical and health needs, and can even be for dental and optical needs, depending on the type of group insurance plan given.
However, employees may get insecure especially in cases where they lose their jobs, there is a job change, or whatever reason there is, and they will not be able to keep their group health insurance coverage, although temporarily. Most people can still be able to continue their group coverage, and there is a program for this, and they just need to ask for information from those concerned.
Employees in these large companies cannot also be excluded from availing of the group medical and health insurance plan, provided that they are eligible for this, and even if the basis is their medical history and claims filed. Provided that the insurance contracts are renewed and premiums are constantly paid, they can avail of this group plan.
About the Author:
Jeannie Monette enjoys blogging reviews about insurance providers. For more info regarding Los Angeles large group health insurance services or to find large group health insurance plans, please check out the MercadoInsuranceServices.net site today.
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