Saturday, February 28, 2015

California Large Group Medical Insurance

By Jeannie Monette

Group insurance can be offered to employees of companies classified as large group employers. Most often, these are the companies with total number of employees of 50 or more, as many of the states require this as the minimum number, for insurance to be considered as group insurance. These are the insurance products offered specifically for the employees needs, most often are the medical plans, dental plans, and can even be for the optical or visualization needs of 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.

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