Group Health Insurance: A Comprehensive Buying Guide

Getting group health insurance can be a very good financial move for you and your family. If the group health insurance is sponsored by your employer, they may even subsidize a portion of the premiums. But even if the insurance is not sponsored by an employer, the sponsoring organization may be able to negotiate lower premiums and better benefits for its members. In just a few steps, you too can buy group health insurance.

Instructions

• 1

  If your group health insurance is through an employer, inquire with your employer's human resources department to determine eligibility and the application process.
  With employer group health insurance, you have to meet minimum employment requirements to get it. In most cases, those requirements have to do with the number of hours worked per week and the waiting period after starting your job before the health insurance kicks in.

• 2

  If the group health insurance is through an existing membership with a group, apply through the group's website or call the group's insurance division.
  Keep in mind that non-employer group health insurance almost always requires medical underwriting. This means the insurance company will reject those who are in poor health (or have pre-existing conditions) to help the group avoid increases in health expenses from a few ill patients.

• 3

  Determine the premiums, deductible and add-on options you want with your group health insurance.
  The size of the deductible, copayment amounts and add-on dental coverage can be customized to suit your family's health needs. If the group health insurance is medically underwritten, changes that increase your coverage later on will require another application through medical underwriting.

• 4

  If the group health insurance is medically underwritten, make sure all family members take any medical tests when requested by the insurance company.

• 5

  After you've been accepted, review the group health insurance documentation to make sure what you've signed up for is right for you. Do not cancel previous coverage until you've had a chance to review the new group health insurance documentation.