Understanding Types of Group Health Insurance

Group health insurance is the type of Texas insurance policy that is offered by employers to their employees. One advantage of this type of policy is that the employer generally picks up part of the premium for coverage. There are many different types of group health insurance available. An insurance advisor can talk to you and help you decide which type of plan is best for your individual situation, as well as help you shop around for the best rates available.

Disability Income Protection:

If you become injured or disabled for an extended period of time, you will need disability income protection to make sure your income is protected. Normally, you can receive benefits up to 60 percent of your gross annual earnings. There is a waiting period after the date of injury before you can start receiving your benefits. This varies from 30 to 60 days, or in some rare instances, up to six months. This can be an important coverage for you if you want to make sure your expenses are covered during an unexpected accident, illness, or injury; this is an important protection for you to have.

Major Medical Expense:

This is your Texas group health insurance for injuries or serious accidents and includes coverage for expenses both in and out of the hospital. For most policies, there is a deductible, the amount of money you have to pay before the insurance company starts to pay on the claim. In many cases, after you have paid your deductible, the insurance carrier will pay 80 percent of any future claims within the year.

Accident Only Coverage:

Why would you want accident only coverage? This is coverage that can cover you for an unexpected accident such as the loss of a limb, other types of disability, or death. For some policies, you can receive a lump sum payment if you suffer any of the covered injuries. If a terrible and unexpected accident occurs, this is a way to make sure your family is taken care of in the best way possible.

Medicare Supplement:

Medicare supplement insurance helps seniors whose Medicare coverage does not cover the entire cost of their medical expenses. This is very important coverage for seniors to have, as Medicare will not pay for many types of medical expenses, medicines, or procedures.

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