Group Health Insurance: Not Just For Big Business Anymore
Traditionally, one of the perks of working for a big business has been access to group health insurance plans. Since insurance companies routinely offer substantial discounts on group insurance policies, this perk allowed workers to secure affordable health insurance for themselves and their families. Oftentimes, having access to this affordable insurance would persuade individuals to take a job with a large business over working for a small business or even opening a small business of their own. Thankfully these days are now gone—just about everyone can now access the benefits of group health insurance by simply thinking outside the box when it comes to what constitutes a group for insurance purposes. Continue reading to learn more about a few of the nontraditional groups that can now take advantage of this opportunity to get affordable health care.
Groups Defined By Profession
One of the most common ways that small businesses and self-employed individuals gain access to group health insurance policies is by forming a group that is based upon a shared profession. For instance, while most artists will work alone or with just a few other people, these artists can easily form an insurance group by opening their group to all artists in their local area.
Groups Defined By Affiliation
Another common way in which nontraditional insurance groups are formed is by basing membership in the group on an existing affiliation. For example, if you are currently a member of a community organization or religious group, you can form an insurance group by opening membership in this group to all existing members of your organization. If your organization is on the small side, you may want to consider expanding your group size by allowing members to also enroll their immediate family members.
Groups Defined By Location And Common Interest
Depending upon the diversity of the workforce in your local area, you may find that it is difficult to locate enough interested people in your profession to form an insurance group. In this situation, it is important to know that all hope is not lost. This is because you can also choose to form a group based on your geographical location and a common interest. For example, if you have children, you can choose to form a group with other parents in your city.
A Final Thought
All insurance companies will have their own rules and regulations regarding what constitutes a group for insurance purposes. However, nearly all insurance companies will offer alternative ways for you to form a group in the event that your employer does not offer this benefit. To learn more about how you can take advantage of a group health insurance plan be sure to reach out to a knowledgeable insurance agent in your area.
