GROUP HEALTH INSURANCE Are you running an organization or a company with an employee-centric nature? Then what is the best gift you can give to your employees to make their lives more secure and happier? Don’t worry, We got your point of vision. Yes, Group Health Insurance will be a good choice. On the further continuation of this blog, you will be able to find the present criteria of health issues with the explanatory solution to overcome the unwanted situations. What actually Group Health Insurance is and What are its benefits? will be covered in the following blog. On analyzing the topic, we come across a famous line saying that “If you take care of your workers they will take care of your business”. Firstly let us know, What is Group …show more content…
Group Health Insurance provides Medicare to the participants or their dependents directly through insurance, reimbursement or otherwise. It is majorly taken as a customized tailored package by the organization making the most of the benefits available to the employees from the insurance companies prioritizing the need than the premiums. The necessity of having Group Health Insurance : In this modern Hi-tech business era, no one is against or exceptional to the fate. To have a future plan of facing even such ill-fated situations we ensure personally. In case of Organizations, employees are the core elements. In concern for their employees, the organizations opt for Group Health Insurance On prioritizing the health of the employees, almost all the organizations are taking a positive and supporting step towards ensuring their members with a group health insurance policy They have the aim of “Employee first and Organization …show more content…
Lower premiums but higher coverage: The premium paid to the insurance companies is very less compared to the individual policies because the policy is taken for a Group where the number of members paying the premium increases which instead results in a higher coverage of the claim. Surgeon/Specialist fees: Meeting up a doctor/specialist/surgeon is necessary to get treatment. The consultancy treatment fees are also paid up by the company itself. Maternity benefits: One of the major pros of Group Health Insurance is Maternity benefit.The female employees or the family members of the employees of the organization are provided with the maternity benefits. Health checkups: Regular or prescribed Health checkups for an employee or to his family members are assisted by the insurance company through health cards or reimbursement facility. Miscellaneous facilities: Room/Boarding facility, Intensive care unit, Prescribed medicines, lab tests, diagnostic tests and so on can come under the benefits of the Group
The Consolidated Omnibus Budget Reconciliation Act (COBRA) supports workers, who have lost the right to their health benefits, so that they can keep their employer-sponsored group health plan in force. The need for continued insurance coverage is necessary when coverage is interrupted due to the loss of a job, reduced working hours, death of the insured employee, divorce or even other circumstances that affect a person’s life. A person who qualifies for the group health benefit is usually expected to pay for that premium. The employer may increase the premium up to 102 percent, which is allowed under the provisions of COBRA. The law applies to all employer-sponsored group plans who have 20 and above employees and urges them to ensure an extension of the health coverage that is temporary (Magill, 2009).
A simple comparison to the US system is difficult considering the multitude of insurance plans with variable premiums and the wide array of coverage depending on company size and other factors. Different from the French system, American employers do not buy insurance based on a percentage system and the money does not flow into a few National Health insurance funds, rather...
Health Maintenance Organization (HMO) is a group of individual health plans that are intended to provide services for costumers’ that purchase insurance policies and for those that cannot afford health insurance. Many of these organization are led by physicians, and other professionals that network together to make health care affordable for patients. In the HMO category there are five separate managed care plan models. First, the Group Model (HMO), is a group that has a number of physicians that mainly agree to provide care to a defined group of patients in return for a fix rate capita payment for discounted fees from insurance companies (Henderson, 2012 p.212).
While looking at each of the plans from the three insurance company: BCBS, HealthCare International and TK what I found was based on the available quotes that two the insurance companies listed their quotes while the third did not have an available listing of quotes. The two companies that listed their quotes where BCBS and HealthCare International. Based on their quotes they were similar as far as their individual deductible amount that separated them was only $750 per year. However, TK which is an insurance company from Germany in which healthcare is based off of social medicine has to make general of contribution into the healthcare fund of 14.6%. The contribution amount for health insurance is based on a calculated percentage of a worker
Managed care dominates health care in the United States. It is any health care delivery system that combines the functions of health insurance and the actual delivery of care, where costs and utilization of services are controlled by methods such as gatekeeping, case management, and utilization review. Different types of managed care plans came into development by three major factors. These factors include choice of providers, different ways of arranging the delivery of services, and payment and risk sharing. Types of managed care organizations include Health Maintenance Organizations (HMOs) which consist of five common models that differ according to how the HMO is related to the participating physicians, Preferred Provider Organizations (PPOs), Exclusive Provider Organizations (EPO), and Point of Service Plans (POS). `The information management system in a managed care organization is determined by the structure of the organization' (Peden,1998, p.90). The goal of a managed care system is to provide subscribers and dependants with needed health care services at the lowest possible cost. Certain managed care plans also focus on prevention by trying to keep members healthy.
Most people rely on their employers to provide them with health insurance, but with many health care is not available through the employers. Many small businesses can simply not afford the high cost of health care, or it may be available, but the employee needs to pay the entire premiums. A lot of employers are utilizing part time employees, the part time employees are usually not qualified for benefits, like health insurance. This is very unfortunate for these part timer’s not only because they will not get benefits such as health insurance, but also they probably have a slim chance of going full time because of the health insurance dilemma. Business owner’s need to assess what is good for them financially, and having plenty of part time employees who do not require insurance is probably the most cost effective method to keep the Business up and running.
They also include employer-sponsored group health plans, government and church-sponsored health plans, and multiemployer health plans (hhs). There are exceptions—a group health plan with less than fifty50 participants that is administered solely by the employer that established and maintains the plan is not a covered entity (hhs). Two types of government-funded programs are not health plans: (1) those whose principal purpose is not providing or paying the cost of health care, such as the food stamps program; and (2) those programs whose principal activity is directly providing health care, such as a community health center,5 or the making of grants to fund the direct provision of healthcare (hhs). Certain types of insurance entities are also not health plans, including entities providing only workers’ compensation, automobile insurance, and property and casualty insurance (hhs). If an insurance entity has separable lines of business, one of which is a health plan, the HIPAA regulations apply to the entity with respect to the health plan line of business
Health insurance is currently an important issue in the United States. Everyday more and more Americans become uninsured due to job loss and an increase in premiums. These Americans add to the ever growing population of 45.7 million people who are currently uninsured (Bialik). Moreover only 27% of those uninsured are under the age of 65 (NCHC). This is staggering considering most of those who are uninsured have, or soon will, suffer from some sort of illness or injury. As a result they will not be able to afford proper treatment. Insurance premiums can range in cost from fifty dollars per month, to fifteen hundred dollars per month (Kreidler). An individual’s premium is determined by factors they choose as well as other factors looked at by their provider. The cost of health insurance in America varies depending on the controllable factors, like particular insurance policies, and uncontrollable factors, like age.
The steady rise of healthcare costs and the ever increasing cost of health insurance premiums are making it harder and harder for employers to pay healthcare premiums for their employees. In the past, it was almost a given that employers picked up the tab for health insurance coverage. The health coverage was usually exceptional with little or no money paid out of pocket by the individual for the insurance premiums. Those appear to be the “good old days”, with fewer and fewer employers shelling out money for health insurance premiums and demanding a larger percentage to be paid by the employee. Other employers are simply unable to financially provide healthcare coverage for their employees and have stopped all together.
Concept #1. Organizations and Individuals. The Tolbert text discusses most analyses of the impact of organizations on individuals focus on work organizations (Tolbert, 2009). Many individuals’ organizations are work organizations. Their work organizations decide whether or not they will have access to health care; whether it is through the employer or out of pocket.
Problems of healthcare were compounded because even though some employers included health care benefits that, it expired after they retired. While the poor, self-employed or those working for employers unable to provide insurance had no health insurance. These problems had to be addressed in an efficiently and not only temporarily, but for the future.
Health plans are available in two formats, individual and group plans. In an individual policy you are personally the owner of the policy. While in a group plan, the sponsor owns the policy and the people covered under it are called its member
In order to evaluate my role within the group it is important to identify what makes a group. A group must firstly consist of more than three members, “Two members have personal relationships; with three or more there is a change in quality” of the personal relationship. (Bion 1961, p26) The group must have a common purpose or a goal in order to succeed.
Many private and public workplaces offer workplace life insurance. If you are employed at a large corporation or by the federal government, then yo most likely have the option of receiving subsidized or free term life insurance. While this is a useful benefit to your job, it might not always be enough for your family. Depending on your family's needs, you may need something other than workplace life insurance. What Workplace Life Insurance Plans Are Available?
Several experiments and researches have been conducted that have focused on how people behave in groups. The findings have revealed that groups affect peoples’ attitudes, behavior and perceptions. Groups are essential for personal life, as well as in work life.