Group health insurance is a type of health insurance that provides coverage to a group of people who are typically affiliated with a common organization, such as an employer or a union. Group health insurance plans are purchased by the organization and offered to eligible members, usually as an employee benefit.
Group health insurance plans often have lower premiums than individual health insurance plans because the risk is spread across a larger pool of people. Additionally, group health insurance plans may offer more comprehensive coverage and lower out-of-pocket costs compared to individual plans.
Group health insurance plans may also include options for dental, vision, and other supplemental health benefits. Employers may also offer wellness programs or other incentives to encourage employees to maintain their health and reduce healthcare costs.
It’s important to note that group health insurance plans have eligibility requirements and may have restrictions on coverage. Additionally, if an individual leaves the organization, they may lose access to the group health insurance plan and need to seek individual coverage.