What Are Group Health Insurance Plans

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

What is a Group Health Plan?

A group health plan is a type of health insurance policy purchased by an employer or organization, covering all eligible participants and often their dependents. This collective coverage approach often results in lower premium costs for each member compared to individual health insurance policies.

How Group Insurance Works

Group insurance operates by pooling together a group of individuals, typically employees of a company or members of an organization. The risk of health costs is spread across the group, leading to more stable and often lower premiums for each participant. Here’s how it typically works:

  1. Enrollment: Employees or members choose their plan during an enrollment period.
  2. Premiums: The employer or organization, along with members, pays premiums to the insurance provider.
  3. Coverage: The plan provides health care benefits such as doctor visits, hospital stays, preventative care, and prescriptions.
  4. Claims: Members submit claims to the insurance company for any medical services received.
Group Health Insurance Plans

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For more information and to purchase group health insurance, visit Annuity Expert Advice Health Insurance Marketplace.

Group Health Insurance at a Glance

EligibilityTypically employees or members of an organization
CostLower premiums due to pooled risk
CoverageWide-ranging, including doctor visits, hospital stays
Enrollment PeriodSpecified time for choosing a plan
Premium PaymentShared between employer/organization and members
Group Health Insurance


Group health insurance offers an efficient way for organizations to provide health benefits to their members. By understanding how it operates and its benefits, you can make an informed decision about your health coverage needs.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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