It’s understandable that many employers may want to provide health insurance coverage for their employees, but fear that the costs of an employer group health insurance plan may be too high. While there are numerous types of health insurance coverage options that may be affordable for certain businesses and could be beneficial for workers, employers are being prompted to seek out health insurance plans for their employees simply because they can help their workers in a variety of ways.
As an example, many employers who have obtained an employer group health insurance plan over the past months have been able to cover certain employees who may have had a preexisting condition. In the past, some employees may have been excluded for certain conditions under an employer’s group health insurance plan, but a federal law has prohibited exclusions for preexisting conditions.
Employees who may have had preexisting conditions have found it almost impossible to find affordable health insurance outside of employer group health insurance plan, but employers who opt to meet the costs of these healthcare options for their workers may be able to help individuals that may have conditions which would otherwise disqualify them from medical insurance coverage.
Obviously, there are some qualifications that must be met concerning these preexisting conditions, but many employees may either be able to have a condition covered under their employer’s health plan or may only have to participate in an exclusion period before they have their condition covered. As an example, insurers can look back for six months for conditions which may have been present before an employer group health insurance policy came into effect.
If an employee had medical advice or treatment recommended or received during the six months prior to their employer’s health insurance enrollment date, they may have to sit out for around 12 months before their particular condition is covered. While there may be some exceptions, employers stand to greatly help employees who may have difficulty getting health insurance coverage due to these preexisting conditions, and there are those who argue that if an employer obtains one of these group insurance plans, costs will be lower since the risk for this policy will be spread over numerous employees.
While there are tax credits available for certain small businesses who may be meeting premium costs for their workers, companies that can obtain these types of health insurance policies for their workers stand to greatly help their employees simply because meeting the costs of healthcare coverage out of pocket or through personal health insurance plans can be vastly more expensive to an individual rather than a business. It’s understandable that some companies have been hesitant to seek out health insurance policies due to cost, but businesses may benefit from speaking to different health insurance agents so they can find the most affordable plan for their situation.