Group Health Insurance – An Overview

A group health insurance is a policy purchased by an employer for eligible employees of the company. It is a benefit provided by employers in addition to basic pay. Some policy packages also extend the coverage to the families of employees. It is certainly a lucrative offer as insurance covers almost all major medical expenses, added to the fact that medical bills are on the rise every day. For employers in Virginia, several group health insurance virginia packages are available to choose from.

health insurance policy

Here we’ll take a look at the key features of a group health insurance policy.

  • Covers medical expenses – The obvious advantage is that insurance covers medical bills. Comprehensive packages even cover charges for anesthesia, diagnostic material, oxygen etc. apart from covering consultation fees.
  • Group health insurance offers cashless settlement facility, negating the need to carry large amounts of cash in person.
  • Good policies offer pre and post hospitalization coverage of charges. Some packages also offer maternity benefits to employees.
  • Some policies may offer coverage for pre-existing diseases too. These are ailments that may have existed before the employee was added under the insurance plan.
  • Critical ailment coverage – Insurance policies from major companies also offer extended coverage for critical ailments above hospitalization benefits. Medical expenses are not always confined to hospital bills. Several critical ailments require for medical equipment or medicines to be purchased and administered at the patient’s home. The package covers such expenses too.
  • Coverage for ancillary charges – Ancillary charges include ambulance costs and such. Group insurance policies also cover such charges for the employee.
  • No co-pay – In the best group health insurance policies offered by insurers, the employee does not have to pay any percentage of the total medical expense out of the pocket. The best plans cover the entire cost for the employee.
  • Coverage for non-allopathic treatments – Certain insurers allow for the coverage of non-allopathic methods of treatment. Keep in mind that such insurers are rare.

Group health insurance is something that will keep both the employer and employee happy. For the best insurers in Virginia, just type in group health insurance virginia in Google.