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holacarina
I am going to end my employer health insurance coverage if I can find a better one. Are there any associations or organizations one can join that provide members a way to join a group health insurance plan? I'm thinking of organizations like art organizations, or professional organizations.
Answer
"Group" policies through associations and the like are a marketing gimmick designed to make the average consumer think they are getting a deal. The premium for these plans are either the same as a regular individual policy or the benefits are cut to allow a lower premium. Any savings I've ever seen are more than made up by the dues of the association. The plans are individually underwritten so you can be denied or the rates increased base on your health.
"Group" policies through associations and the like are a marketing gimmick designed to make the average consumer think they are getting a deal. The premium for these plans are either the same as a regular individual policy or the benefits are cut to allow a lower premium. Any savings I've ever seen are more than made up by the dues of the association. The plans are individually underwritten so you can be denied or the rates increased base on your health.
What will happen to my employee's coverage if we change our group health insurance company?
killbarbie
I am a small business owner in the state of FL. We have group coverage for myself, my business partner, and one employee, who was recently diagnosed with breast cancer. My business partner and I are considering changing insurance companies (from Aetna to United Healthcare), but obviously I am concerned what will happen to my employee's coverage if we change companies while she is sick.
Answer
You should probably be more concerned with the cost of the group coverage, should you try to switch - or even IF you can find someone willing to give you coverage, with 1/3 of the group having active cancer.
They would have to cover her cancer - which means, they'll probably flat out decline to give you coverage. They won't give you a policy.
If they DO choose to give you a policy, small groups like yours, the policy is individually underwritten - meaning, they average the premium costs for all three of you, and your rates - if by some slight chance they choose to give you a quote - will be astronomical.
I think you're stuck where you are, until she's no longer your employee.
You should probably be more concerned with the cost of the group coverage, should you try to switch - or even IF you can find someone willing to give you coverage, with 1/3 of the group having active cancer.
They would have to cover her cancer - which means, they'll probably flat out decline to give you coverage. They won't give you a policy.
If they DO choose to give you a policy, small groups like yours, the policy is individually underwritten - meaning, they average the premium costs for all three of you, and your rates - if by some slight chance they choose to give you a quote - will be astronomical.
I think you're stuck where you are, until she's no longer your employee.
What exactly does it mean when an employer can deduct premiums from their group health insurance plan?
Chaz Zerom
This this mean they can reduce the taxable amount of income the company makes using the amount they paid for premiums to the insurer?
Answer
Yes. That's what it means.
Yes. That's what it means.
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