What are the different types of group health insurance plans?

Some common types of group health insurance plans include Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Exclusive Provider Organizations (EPOs), Point of Service (POS) plans, and High-Deductible Health Plans (HDHPs). How do employers choose the right group health insurance plan for their employees?

What is a group insurance health plan?

Group Insurance health plans provide coverage to a group of members, usually comprised of company employees or members of an organization. Group health members usually receive insurance at a reduced cost because the insurer’s risk is spread across a group of policyholders. There are plans such as these in both the U.S. and Canada .

What is the difference between group and individual insurance?

Group insurance is typically offered at a discounted rate through your employer. Individual insurance is a plan you purchase for yourself — either through the marketplace or from an insurance company directly — and often costs more. Common types of group insurance include health insurance, dental insurance, and life insurance.