Health Insurance for employees
Many companies offer joint health insurance for their employees, which spread the cost of healthcare provision across the employees of the company, while ensuring that each individual has his or her health care provided for. This article will discuss the merits and demerits of taking up such a health care plan as an employee of a company.
Advantages of taking insurance for employees
- Taking up health care insurance as an employee will free you from the fear and burden of financially crippling medical costs. Not only does insurance save you money, but it also gives you a greater peace of mind about the possible consequences of such circumstances.
- Companies also have a collective bargaining power that is greater than that of the individual. As a result, a company's health insurance for its employees tends to represent better value than what could be procured as a private individual. Often, this will mean that your health insurance will offer you greater medical coverage for a lower monthly premium.
- Another advantage of health insurance for employees is that some companies offer incentives or discounts for those who undertake corporately directed wellness programs. These may range from anything between health assessments to ten week long health improvement programs for employees. Such offers provide the double benefit of improving your personal health, while offering you a financial discount on health insurance.
- Corporate health insurance plans also tend to offer packages that cover your spouse or family. This allows you to provide for the health care of your entire family under a single plan. The cost of this for families in particular is usually lower than the cost of paying for health insurance for each individual.
Disadvantages of health insurance to employees
- Cost: Health insurance can be very costly even for those that have a health insurance plan through their employers. This cost can sometimes be so expensive that the person may struggle to make payments. This is problematic for those that have a low income or are self-employed. Families may also have a great deal of difficulty affording coverage for the entire family because of the cost.
- Medical coverage: Actual medical coverage can also be a disadvantage to some people with health insurance. The medical coverage may not be enough to sufficiently cover the cost of tests, surgeries and procedures that need to be done. This can leave the person paying high bills for medical services and may even cause some people to refuse medical care that they need. This can lead to an exacerbation of illness or even death, which can end up costing the person, the person's family, taxpayers and even the government more money.
- Pre- existing exclusion: If a person enrolls in a new group health insurance plan, they may be asked if they have any pre-existing conditions. Some people that have a pre-existing illness have to undergo a waiting period if changing employers.
- Lack of choice: A significant disadvantage of many health insurance policies is the inability of the insured to choose which doctor they see or which hospitals they use. While some policies offer a wider range of choices, most do not have complete freedom in this regard.
Our website allows clients to be able to compare insurance rates from different insurers. We normally ask for information that includes some basic information about you, your vehicle, your driving record, and limited information about any other drivers you’d like to insure on your policy.Our website provides you with actual prices from different insurers and not estimates like some websites. These different prices will assist you decide which one is the most friendly for you. With this comparison service we help you save both time and money through finding all the information you require in one place.