Group health insurance Virginia

Group health insurance in Virginia is offered to the employees by a business owner. Unlike individual health insurance where the premium costs depend on the health status of an individual, a group health insurance policy in Virginia has a common premium irrespective of the individual health status of any single employee.

Because a major share of premium is paid by the employer, group health insurance is one of the most affordable health insurance plans in Virginia. Though a lot of employers are rolling back these plans due to economic crisis, yet a lot of employees still depend on these plans.

Businesses of all sizes have a variety of group health plans to choose from. The coverage range could be comprehensive to basic. Group health insurance can be divided in two major forms:

Consumer-Directed Group Health Plans

These types of group health insurance plans in Virginia are ideal for small and large businesses. In these plans, the consumer has the control of their health care dollars. Mostly, low monthly cost for the consumer is what makes them popular. Some examples of these group health insurance plans are:

Health Savings Account (HSA) plans are consumer-directed group health insurance plans in Virginia. HAS is like a bank account where an employee and the employer contribute tax-free income to be used for almost any health-related cost.

Cafeteria Plans. This is a group health insurance plan in which your employees decide where their benefit dollars go. The options range from medical, dental, vision, disability, accident, and term life insurance. One major difference between an HSA and a cafeteria plan is that the money contributed toward benefits does not roll over — it has to be spent the same year it's deposited.

Comprehensive Group Health Plans in Virginia

Comprehensive group health insurance in Virginia are often managed care plans. Managed care plans have wide networks of doctors, specialists, hospitals, and other health care professionals who provide discounted medical care. Some examples would be:

Health Maintenance Organization (HMO) is one of the most affordable group health insurance options available.

Preferred Provider Organization (PPO) provides comprehensive health benefits from an extensive network of care providers. In PPOs, unlike HMO, a consumer can go to a physician outside the network, but it will have higher costs.

Point of Service group plan (POS) is a combination of the HMO and PPO. A consumer in Virginia can choose a primary care physician, but there would be no need to get a referral for specialist care.