Group Insurance in the US
Group insurance plans are health insurance programs offered by an employer or organization (e.g. Union) that provide specific benefits and financial relief.
- These discounts are only offered to people employed by a given employer or to people who are members of a given organization. In some situations, specified in the contract, discounts or benefits are also offered to family members of a given employee.
What Requirements must be met for group insurance?
- Group plans apply to companies with three to a maximum of 200 employees
How insurance pricing works in group systems:
- If the employer of a small company is applying for group insurance for its employees, it is very simple. The business owner must complete a Census Form which includes the company name, address, type of business, and a list of employees to be covered.
The list of employees should also contain basic data about the people applying (date of birth, gender, place of residence, etc). If employees’ families are also to be added to the program, then they also receive a form that