Group Health Insurance: Pros and Cons

Group Health Insurance: Pros and Cons

http://insureme.us/group-health-insurance-pros-cons/

Group Health Insurance is defined as health insurance that covers all eligible people in a group regardless of their age or physical condition. In the United States, employers have mostly been the provider of group health insurance, hence the concepts of employer-based insurance and group insurance have been greatly associated.  This is not, however, limited to employers, but also extends to other types of organizations, social and civic groups, and the government as well.

Group Insurance can be granted to a group of as little as two and up to a hundred people.  In this group, insurance premiums depend on a couple of factors.  The first would be how much medical services cost in a certain location, and the second would be the projected utilization of the services.  They base this projection on the age, sex, and medical history.  As customary, those with higher risk would need to pay a higher premium.