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About Group Health Insurance
If you are trying to reduce your group health insurance premiums:
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Most major group insurance carriers (i.e., Blue Cross, Blue Shield, etc.) have had astronomical rate increases
- huge rate increases will be repeated next year and the year after
Types of group health insurance:
- Partially Self-Funded Plan - for groups that are relatively healthy.
- Group Indemnity Plans - professionally managed indemnity insurance that pay specific amounts based on a schedule (for mostly low wage employees).
- PPO plans with a higher deductibles (with low copays for doctor visits and prescriptions).
- MSA (Medical Savings Account) plans that are medically underwritten and will not cover pre-existing conditions.
- Individual insurance plans - for the employees which are medically underwritten and they be denied coverage.
- HRA (Health Reimbursement Arrangement) - is entirely employer funded where money goes into a spending account to reimburse most employees for medical expenses on a tax-deductible basis
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