Work Health Insurance Policy at it’s Fullest
June 22nd, 2010If you are fortunate enough to be employed with a business that offers a health insurance policy, you should do everything possible to maximize the benefits of that policy. Here are a few facts about employer health insurance policies to help you understand what you have or don’t have.
Generally employers pay a large portion of the monthly premium. Some employers are nice enough to pay the entire premium. Occasionally you’ll have some options as to the coverage that can affect the amount of the premium you are responsible for.
Often, only full time workers are offered health insurance and even then they must wait a certain period of time before they are eligible. Keep this in mind if you are offered a part time position or are thinking of changing jobs.
If you are laid off, there will probably be a provision to allow you to keep the insurance coverage, but the employer will no longer be subsidizing the premiums. Be prepared for a major jump in the cost of coverage and pay close attention to your insurance rates.
If you have certain pre-existing conditions, the insurer may deny you coverage and your employer is not responsible for remedying this. Since most employer health policies are group policies, the restrictions are often tight to prevent a condition of one person from driving up the costs for everyone.
Health insurance is one of the greatest perks an employer can offer. You should not take this benefit for granted. If you are considering changing jobs, make sure you get all the facts about your new employer’s health benefits before taking the leap. Difference in coverage can be a major reason to stay with your current job. This is especially important if you are currently ill since the new insurer may not accept you into the policy. Make sure you don’t set yourself up for a difficult situation.