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A group health insurance policy is insurance coverage applied by the employer with an insurance company. The employer usually pays a part of the premium of the group medical insurance policy. A group health insurance policy gives an employer the advantage of not paying the whole premium for the insurance policy in order to cover his employees. The best way to get group health insurance is to get a quote from different companies and find the one that best suits your company and your employees.

Group health insurance is tax-deductible. Providing health insurance to employees has many advantages. Not only are employees happier, but also they are less likely to switch jobs.

Prior to purchasing your health insurance coverage, you should consider these factors:

The reliability of the insurance company. Does it treat people fairly? Does it pay claims promptly? Does it have adequate staff to answer your questions and resolve problems?
Most insurance policies require you to cover part of your health expenses yourself (your part is called the “deductible”) before the company pays anything. Under some policies the deductible is annual, and you pay only once each year if you use the insurance. Under others, you pay the deductible each time you have an illness or injury. In choosing insurance, you should think carefully about how much you can afford to pay out of your own pocket each time you are sick or injured, and weigh the deductible against the premium before you decide.

Usually, even after you have paid the deductible, an insurance policy pays only a percentage of your medical expenses. The policy might pay just 80 percent; the remaining 20 percent, for which you are responsible, is called the coinsurance or co-payment.

Some policies state specific dollar limits on what they will pay for particular services. Other policies pay “usual” or “reasonable” charges, which means that they pay what is usually charged in the local area. Be very careful in evaluating policies with specific dollar limits; for serious illnesses, the limit might be far too low and you might have large medical bills not covered by your insurance.

Some insurance policies put a time limit on illnesses and injuries. In that case, after the benefit period for a condition has expired, you must pay for continuing the treatment of the illness on actual cost basis, even if you are still insured by the company.

Many insurance policies do not cover pre-existing conditions. If you arrive with a condition that will require medical attention, verify the pre-existing aspect of the policy that you are reviewing.