One of the most common examples of group health insurance is the health benefits offered by many large employers. Unfortunately, there are many people who believe that employer-sponsored health care programs are the only way to qualify for group rates. Consequently, it comes as no surprise that so many self-employed people simply assume there is no way they could ever take advantage of group health insurance services. This is unfortunate because just about anyone can take advantage of group health insurance rates. Learn more below about how you can take advantage of these group rates despite not having access to employer-sponsored benefits.
Understanding The Definition Of An Insurance Group
The reason that many self-employed people assume they will not be able to obtain a group health insurance plan is quite simple. A single person does not make a group. However, while you may not be a part of a group from an employment point of view, there are many other ways in which an insurance group can be established. This is because most insurance providers simply require you to have multiple people who all share a common trait or affiliation. For example, an insurance group can be made up of all self-employed people in a general area or people who all share the same religious beliefs. This means that even individuals who work alone can effectively come together to take advantage of group health insurance services.
Expanding Your Group To Maximize Your Savings
What makes group health insurance benefits so attractive is that these plans can often be purchased for far less than standard health insurance policies. The reason for this is that purchasing insurance coverage as a group helps to maximize your negotiating power while also helping to minimize the risk the insurance company is taking. Generally speaking, this means the larger your group is, the more you can expect to save on your policy. That is why it is always a good idea to focus on expanding the size of your group to help maximize your savings. One of the easiest and most effective ways to accomplish this goal is to open your group up to immediate family members of group members. For instance, instead of only welcoming freelance contractors in your area to join your insurance group, you may also wish to all group members to add their spouses and children to the policy as well.
For more information, contact a group health insurance service in your area.
Share