Discussion on Health Insurance Plan sponsored by Employers
Significance of Health insurance means different solutions to different needs of people. Recent year 2010 has already come up with health care reform for all these categories of people. Say for disabled status, divorced status, employed insured single, married status, widows, employer sponsored group policies or single parent, the surge is towards better facilities and maximum coverage.
Here for employees insured by company policies the health care reform has appeared with so many intriguing queries.
We can discuss few of those here:
What type of health insurance your employer may fix for you?
Basically the health insurance is to protect employees from catastrophic loss in the event of accident, disease or illness. The health insurance plan will have different levels of coverage and options. For large employer you would enjoy some choices between a reimbursement plan or an HMO plan. But you shouldn’t think that the employer would carry your health care coverage cost. But if it is, certain state and federal regulations would be applied on you that will require your full time status.
Do you have to pay for that?
It depends. Some employers may pay the full premium or sometime charge a little portion of the coverage from you. Even for the coverage of your spouse, children and dependants you might be held responsible.
Will it be a good idea if your employer has a self-insured plan?
Yes, to large extent most of the self –insured employer sponsored plans are effective and deliver good benefits to the employees. Some large employers rather than purchasing protection coverage from an insurance company manage their own health insurance plan by a third party. This party can be an insurance company or a health care administrator. The employer pays the administration and claim cost directly from company’s profit margin. At one point this can save the amount of premium but on the contrary, if eventually the paid amount is more than anticipated claims, the company can have higher risk factor.
Now if you are staying in Ireland, the largest island in Europe, the health insurance claims settled by your employer will be according to the insurance companies available there. For Health Insurance Ireland with different level of protection plan, ask quotes from branded health insurance companies in Ireland. You can suggest your employer to continue with such a party who would offer better value and better cover.
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