Oklahoma Group Health Insurance

Millions of Americans receive their health insurance benefits through an employer-sponsored plan. Most of the time, these are group health plans that insure multiple company employees along with their families. 

If you have the chance to enroll in a group plan, or if you are a business owner who wants to offer this option to your employees, then you’ll often find the benefits very affordable and useful. For help choosing the coverage package that is right for you, just come to Bright Insurance Solutions.

About Bright Insurance Solutions

As a full-service independent agency, Bright Insurance Solutions offers diverse, high-quality property, casualty and personal insurance packages provided by industry leading carriers. We’ll help you design insurance benefits that will always keep you, your family, property and finances secure and protected. That way, you can get on with living your life rather than worrying about what the future might hold.

To get a quality group health insurance package, call us at (405) 410-9788 or request a quote now.

Common Group Health Insurance Questions

What is a group health insurance policy?

A group health insurance plan is one that covers multiple people who do not necessarily have to be related to each other. They are commonly found as part of an employer’s benefits package. 

When usinga group plan, the policyholder (i.e. the employer) will support the policy and generally pay for a significant portion of the policy premium. However, individual participants will also pay a portion of the premium themselves, usually through a payroll deductible. Once enrolled in a group plan, the participating employee can use their plan to go to the doctor, pay for prescription drugs and receive other wellness care.

What is the difference between individual health insurance and group health insurance?

Group health plans are a bit different from an individual health plan. Under an individual health plan, there is only one participant who pays for the entire cost of the plan themselves. Group plans, on the other hand, can have multiple participants who only pay a portion of the full policy price. 

Keep in mind, group plans are a bit different from a family plan, too. A family plan can insure multiple members of your household, but it is still a personal health insurance policy that you must pay for.

How does group health insurance work?

Group health plans are just like every other health insurance plan. They will include certain covered benefits and designate what costs the participant will have to pay for certain care such as copayments, coinsurance and deductibles. There are numerous types of group health plans, including HMOs, PPOs, Fee-for-Service plans and other policy structures.

Most plans include physician networks and prescription drug formularies. Respectively, these are lists of the providers who accept the plan in question and the prescription drugs the plan will cover at optimal prices. If you want to receive care that is outside of your physician network, then you might not have any coverage available from your plan.

How do you qualify for group health insurance?

Though employers do not necessarily have to offer group health benefits, those with 50 or more employees will have to pay a significant tax penalty if they fail to do so. As a result, most employers (large and small) offer these benefits to both employees and the employees’ dependents. 

Often, plan participants will qualify to enroll in health insurance either upon starting employment with a company or after completing a probationary period (such as 90 days) with the company. Most plans take effect the first day of the month after the employee enrolls in coverage. 

Please note, if you do not enroll when you are first eligible for a group health plan, then you might not be able to re-enroll in coverage until the company has its next open enrollment period. This open enrollment period occurs annually, and the exact time can vary from business to business.

How many employees do you need for group health insurance?

Businesses generally only need two employees to qualify for a group health plan. The good news is that the business owner counts as an employee, too. Therefore, you technically only need to have one other employee on your payroll to be able to qualify for a group rate. A group plan is often much more affordable to all participants as opposed to individual plans that they must buy on their own.