Although group health insurance in Miami has numerous advantages, when your insurance plan is linked to your employer, you risk losing health care if your circumstances change. In 2017, 22% of uninsured people in the United States said they had lost their health insurance owing to a job loss or change in work status.
What Is Group Health Insurance?
Group health insurance, often known as employer-based coverage, is a form of health insurance provided by a member organization’s employer and is obtained through places such as Financial Designs. The insurer’s risk is spread over numerous members, so group health insurance plan participants often pay less for coverage.
Companies or organizations choose and purchase group health insurance policies, which are subsequently made available to employees. A group insurance plan must have a minimum participation rate of 70% in most jurisdictions. However, other states have greater or lower minimum rates.
Who Is Eligible?
An employee must be on the payroll, and the company must pay payroll taxes to be eligible for group health insurance in Miami. Independent contractors, retirees, and seasonal or temporary employees are typically not eligible for group coverage. If an employee is on unpaid leave, they are frequently ineligible for group coverage until they return to work.
Employees’ spouses and dependent children must be covered by group health insurance until they reach the age of 26, but companies may choose to extend the age limit for child dependents. Employers may also choose to provide health benefits to unmarried partners of the same or opposite sex, with coverage that must match that provided to couples on the same plan.
