When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.
Medical bills can be expensive to pay out of your own pocket. They can quickly put you into serious debt that you cannot pay off in a reasonable amount of time.
However, you can keep your medical expenses under control if you invest in a policy that will pay for most or all of them. You can save money on that policy and get a variety of covered services by purchasing group health insurance from your employer.
Lower Premiums
One of the main advantages that come with buying group health insurance is its low premiums. In fact, the premiums for a group health insurance policy can be a fraction of what it would cost you to buy coverage from the marketplace exchange or a private insurer.
The premiums are lower because your insurer subsidizes most of them. You pay less each paycheck for your coverage, and many times you avoid having to pay thousands out of your own pocket for your policy.
Family Coverage
Along with saving money on your premiums, you can also buy group health insurance that will cover you and your spouse and dependents. You can add people in your household that you financially support on your group health insurance policy. You avoid having to buy separate policies for them.
This courtesy can be particularly beneficial if you have small children that you want to cover or a spouse that has recurrent medical conditions. You can get the help that you need paying for doctors' visits, prescriptions, hospital stays, and other medical costs that can be too expensive to pay on your own.
More Covered Services
In fact, group health insurance typically offers more comprehensive coverage specifically because it is designed for policyholders and their dependents. You may get access to more services with a group health insurance policy than a policy that you buy from a private insurer or from the marketplace.
You may also may be able to take out low-cost coverage for miscellaneous services like dental and vision. Many group health insurance policies pay for mental health treatments and physical rehabilitation. Some also pay for drug and alcohol treatment, as well as weight loss programs.
Group health insurance can benefit you and your family. You can get a policy with lower premiums because your employer subsidizes them. You also can add your dependents to the policy and get access to a variety of services.
Share13 July 2021
