What is a group health insurance plan?

Group health insurance plans refer to the health coverage benefits that apply to a group of members, typically employees of a business or organization. The Social Security Administration (SSA)states that a group health plan (GHP) is based on current employment.

What is group insurance?

Group insurance is coverage issued to a group of members as part of an employee benefits package, rather than insurance you purchase on your own. If you’ve ever enrolled in health, dental, vision, or other insurance coverage through your work, then you’re familiar with the concept of group insurance.

What are the benefits of group health insurance?

Group Health Insurance Benefits There are several benefits of group health insurance. Unlike individual insurance, where employees pay separately for 100% of their premiums, group health insurance allows employers and employees to share the costs, with employers covering some part of the premium cost for a single employee or dependents.