Benefits Of Group Health Insurance in Beckley and Charleston, WV

 Buying insurance policies is an effective way of ensuring financial assistance during times of need. Sadly, the monthly premium amount is often quite high, making it impossible for individuals of limited means to remain adequately covered. The escalating medical costs have made many Americans enroll in Medicare. Such a benefit is only available to retired employees and people over 56 years of age. Many employers and organizations provide respite to their workforce by providing them with group health insurance in Beckley and Charleston, WV.

Working on Group Health Insurance

This is a type of health or medical insurance coverage that groups can purchase and not an individual. Some of the basic information that one must be aware of when purchasing group health insurance for the employees of the company are:-

· The insurance plan can cover employees and/or group members at a reduced cost. The risks of the insurer are spread over the entire group making it cost-effective for the insurer to provide the coverage at a lower rate

· The policies must have70% group participation to be valid

· The premium amount is split between the group members and may include their dependants for an additional cost

· The employers are pleased to get tax deductions for purchasing group health insurance to benefit the employees

The question that most company owners have before buying group insurance is the number of employees required for eligibility. This should not be a downer as many insurance companies provide group health insurance to business owners employing even a single employee. It is important to understand that the cost will be reduced effectively when the number of participants is more.

More often than not, another point that strikes the mind is the actual expenses involved. It is interesting to note that the cost is variable, with a part of the premium being paid by the employer and the rest being borne by the concerned employee. It is sure to be a win-win for all concerned.

Enrolling in a group health insurance plan may benefit employees and employers alike. Some of the most significant gains that one can obtain by participating in such a plan include the following:-

· Familiarity- Participation in group insurance is a popular option that is known to almost all Americans. The employer does not have to explain it repeatedly to the employees. A majority of the workforce appreciates this gesture and is willing to participate in the plan. This ensures employee retention and attracting talented people to the company.

· Tax Advantages- The employer has reason to cheer as well. The premium amount paid by the employer is tax deductible. This leads to savings for the company. The employees, on the other hand, enjoy reduced tax liability

Almost all citizens feel the need to visit the dentist regularly. Preventive and emergency dental care are expensive, posing a problem. Being covered by group dental insurance in Beckley and Charleston, WV, can solve such issues and keep the employees healthy and happy.