8 Top Group Health Questions

At Certified Payroll Advisors, we have partners in various industries to make sure we can help our clients with all of their needs. These trusted relationships help our clients navigate through the many challenges that come with small business ownership. This week we asked one of our insurance partners to help us answer some frequently asked questions when it comes to group health policies. Courtney Caslow with Compass Health is very knowledgeable and we are grateful to have such a great partner. Here are the top group health insurance questions Courtney comes across.

1. Are there open enrollment periods in group insurance?
   Yes, just like any other health insurance there are open enrollment periods where you
   can switch plans or enroll in your group insurance if you denied it in the past. You can
   make changes throughout the year if you have a qualifying event, ie birth, death,
   divorce, marriage
2. Can group health insurance exclude pre-existing conditions?
   If it is considered a qualified health insurance plan which most group plans are then it
   can not exclude pre-existing conditions, mental health, pregnancy.
3. Is group health insurance mandatory?
   If the company has 50 or more employees, the company must offer group health
   insurance and pay 50% of the employee’s coverage. The employee can deny coverage if
   they would prefer not to join. IF the company has 49 or less employees, they do not
   have to offer group insurance nor do they have to pay a portion of the insurance.
4. How much does group health insurance cost?
   Most group health insurance costs vary on a few different factors.
   1.) The average age of the employees.
   2.) Claims history if they are an active group.
   3.) Employer contribution
   So, no group health will cost the same amount.
5. Is group health insurance cheaper than individual health insurance?
   Most times if the employee is paying a portion of the health insurance the group policy
   will be cheaper than an individual policy.
6. Does group health insurance offer dental or vision coverage?
   Yes. Some companies offer additional benefits that are partially paid for by the
   employer. Some offer the benefits but are fully paid by the employer, it all varies.
7. How many employees do you need to make a group health insurance plan?
   You only need 2 employees to make a group health plan.
8. Which employees are eligible for group health coverage?
   You must be full-time or work at least 30 hours per week and be on payroll/ 1099.

Do not hesitate to contact Courtney with questions you may still have, she will be happy to help you and we are happy to refer her at all times.

If you need help with your group health deductions, payroll or bookkeeping CALL US! 772-208-9655 or fill out our Contact Page