Typically yes, there are a number of factors that are involved with group insurance. There are usually 4 main components that cause group insurance to be higher. When group insurance is offered it is required to take into consideration all eligible employees, dependents and health conditions. Rates are determined on group size, and medical conditions [...]
This varies by state; most states require 2 full-time employees to have a group.
I’m self-employed. Is it better for me to buy health insurance through a broker, or through the exchange? You can have the best of both worlds — a broker can help you enroll through the exchange, giving you personalized help and recommendations, but also allowing you to get any Obamacare subsidies for which you’re eligible. [...]
A job change, a job loss, and divorce are some of the reasons that you could lose your group health insurance. Most people are able to retain their insurance through COBRA, or the Consolidated Omnibus Budget Reconciliation Act. However, not all employers utilize COBRA, thus not everyone is covered. Some states have alternative continuation-of-coverage options. [...]
Most states require that companies employee at least two people in order to qualify for a group health insurance plan. The Affordable Care Act has eliminated the designation “business group of one”, which was previously the designation for a sole proprietor seeking health coverage. Sole proprietors are now directed to apply for individual healthcare coverage. [...]
The states regulate fully insured group plans, and the federal government now has more authority over larger group health insurance plans due to the implementation of the Affordable Care Act.
Rates are based on employee participation and the employer group’s prior claims experience, if applicable. It’s rare for members of a large employer group to complete a medical questionnaire before coverage is obtained.
It is now illegal for an insurance company to refuse to insure a large employer group of employees based on their health statuses. Insurance companies also cannot exclude an individual employee from the group insurance plan based on medical history. Additionally, it is the law that large employer group insurance be renewed every year, unless [...]
The Affordable Care Act has significantly altered how premium rates are now determined. However, rates are still based on limited factors, such as age, geography, and smoker status.
As it stands right now, small employers are not required to offer coverage to their employees. However, if an employer chooses to offer group health insurance, the plan offered must meet certain requirements as dictated by the Affordable Care Act and insurance companies are not allowed to reject anyone based on their health status. (This [...]