Group Health & Life Insurance Plans
Ways to Buy Group Health & Life Insurance
You have a choice. There are two basic ways
for an individual to buy health and life insurance:
How do you decide? There are pros and cons
to be considered that vary according to your individual situation.
How you buy your health coverage will affect your rights & responsibilities. You
might find it interesting and useful to learn more about the differences
between individual insurance and group
insurance.
Employer Benefit Solutions is pleased to include the following
advice, from The Ohio Department of Insurance, listing:
- Some of the basics of buying individual insurance
- Some of the things to expect after you're enrolled.
Employer Benefit Solutions can help you with the details to
simplify your decision and choose the best insurance for your needs.
Group Insurance: Your Rights & Responsibilities
Group Health Insurance Coverage
One policy, one master policyholder, many certificates.
A group insurance policy may cover thousands
of people but it is still only one policy. It's called a master policy and your employer
or trade association is the master policyholder. The master policyholder
negotiates the terms of a group policy with the insurance company.
The master policyholder can:
- Reduce or change the benefits and coverage
- Or increase your share of the premium
- Or switch to another insurance company
- Or even stop providing coverage completely
You and the other members of your group are certificate holders.
- Certificate holders have the right to receive health care
benefits under the terms of the master contract
- Each family member covered under your certificate is an
insured
- As a certificate holder you will receive a summary of benefits
or a benefits handbook instead of policy
Employer Benefit Solutions offers individual insurance policies.
Call today for a free quote.
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Policy vs.handbook
The master policy is the contract. The benefits handbook is a summary
and might not include every detail.
The Policy
• Group health: Your employer or organization
negotiates terms with an insurance company and becomes the master
policyholder.
Premiums
• Group health: Rates for large employer groups
(see below) are negotiable and are not regulated by the state.
Required benefits
• Group health: The policy must include specific
minimum benefits required by state law. Others are negotiated by the
master policyholder.
Cancellations and changes
• Group health: The master policyholder does
not need consent of certificate holders to change companies or policies,
cancel the policy, or agree to new premiums or benefits.
If you leave an employer group health plan, you may have the right
to convert to an individual policy or continue group coverage for
a temporary period of time.
What is a 'large' employer group?
Large employer groups are defined as having more than 50 employees.
Large employer group policies usually:
- Cover more but cost less than individual policies
- Have more generous benefits
- Cannot reject your application because of your poor health
Group Insurance Products
- Health Insurance
- Life Insurance
- Disability Insurance
- Dental Insurance
Free Group Insurance Plan Quotes
Employer Benefit Solutions offers individual insurance policies.
Call or
today for a free quote.
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