Understanding group health insurance
What is group health insurance?
Group health insurance, or employer-sponsored health insurance, is a health insurance plan that employers or companies provide to their employees and employees’ immediate family members. Group health insurance plans can cover doctor visits, surgeries, hospitalizations, prescription drugs and much more.
How many employees do you need to qualify for a group health plan?
Capital Blue Cross offers group health insurance plans to companies of all sizes. Small business health insurance plans are available to companies with between one and 50 employees. For larger companies (those with more than 50 employees), Capital Blue Cross has other group plans available.
How does employer health insurance work?
Employers can choose from group health insurance plans offered by health insurance carriers, like Capital Blue Cross. Employers usually cover all or some of the plan costs, and may ask employees to pay for a portion of those costs. The plan options may vary by the plans’ benefits, which can include copays, coinsurance, and deductibles. Capital Blue Cross provides several group health plan options for employers of all sizes.
Why would employers want to offer employees group health insurance?
Group health insurance allows employers to offer an important benefit that can help them attract and retain the best and brightest talent in their industry. In fact, for many people, having a group health plan may cost a lot less than having to buy an individual health plan directly from a health insurance carrier or through a government health insurance exchange. Employers that offer group health insurance plans to their employees also may benefit from tax advantages1.
What is the difference between group and individual coverage?
An employer, who offers the coverage to employees and oftentimes the employees’ immediate family members, provides group health insurance coverage. Employers typically pay for all or some of the monthly premiums for group coverage. Health insurance that people buy on their own is called individual coverage. People can buy individual coverage directly from a health insurance company or a government health insurance exchange, like Pennie.
What can small business owners do for health insurance?
Capital Blue Cross offers small business group health insurance plans to businesses with between 1 and 50 employees. Capital Blue Cross has group health insurance options for larger companies, too. For those who are self-employed or have no employees, you can get an individual health plan directly from Capital Blue Cross.
How much is group health insurance for a small business?
The costs for group health insurance will vary based on the plan benefits, number of employees, and other factors. Call 1-855-505-2583 to schedule an appointment at one of our Capital Blue Cross Connect locations to discuss options and learn more about the cost of group health coverage.
1Please note that Capital Blue Cross cannot provide tax advice and employers should discuss any potential advantages with their own tax advisor.