What are some big business health insurance companies?
Some of the big business health insurance companies include United Healthcare, Aetna, and Blue Cross Blue Shield. Most of the health insurance companies that offer options for health insurance to small and mid size companies also offer health insurance to large businesses.
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Group insurance has a lot of benefits and large group insurance provides even more advantages. If you are looking for a group policy for your large business, there are a number of options you should weigh. If you are an employee of a large company, you can also do your part to make sure you have the options available for your healthcare needs.
What are the size categories for group health insurance?
Group health insurance is available for businesses of all sizes. The different categories include small, midsize, and large groups. What defines the size of a company varies. Some define a company based on the amount of revenue it brings in, while others define it based on the number of employees.
In the insurance world, according to the America’s Health Insurance Plans, a small business is typically considered to have anywhere from two to 50 employees. A large business would be one which has over 50 employees. These are not concrete definitions and can vary from company to company and from state to state.
What are the benefits of large group insurance?
There are a number of benefits to getting health insurance through your employer. When you work for a large company, one of the benefits is that there are usually more plan options that you can choose from. A small company has fewer options.
Although a large group is not guaranteed health insurance coverage by a company, there is less chance that they will be denied coverage because of the large number of people in the group. A large group health insurance company considers how many individuals are considered to be high risk and either grants or denies coverage for the whole group.
Because there are more people in a larger business, the high risk individuals will be a lower percentage of the whole. Therefore, most large groups will be granted coverage. This is an advantage over group insurance for mid size and small companies.
Conditions that are preexisting are also not as much of a concern in large groups. The larger the company, the better it is for everyone. The reason for this is because health insurance for large groups broadens the risk among individuals of varying health statuses and age groups.
If you are a big business do you have to provide insurance for all employees?
At this time, large business employers are not required by law to offer group health insurance to their employees. However, if they do provide it for one employee it needs to be available for all employees.
This will change a bit in the year 2014. The law will require big businesses to pay an assessment to the government if they do not provide health insurance to their employees. This will be in regards to businesses that employ 50 workers or more. For more information about this law you can visit the healthcare.gov website.
Although employers are not required at this time to offer health insurance, it is an attractive perk for people who are looking for or are currently in a job that offers them health insurance benefits. Often the presence or lack of health benefits will help the employees determine whether or not to accept a position or stay with a job.
How can you get the coverage you want from your employer?
One of the benefits of a large group is that you are usually able to get more health insurance options. You as an employee can actually help get options that are beneficial for you and other employees. If there seems to be a health need that many of your colleagues want added to your health plan, you can speak with your human resource representative, or whoever else is in charge of your group health insurance.
Often if there are enough employees who request a particular coverage, the insurance carrier will add it as an optional benefit. This usually does not happen with small or midsized companies. However, because there are so many people in a large group, an insurance carrier will often add the optional benefit so that they can get and keep your business.
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