Health Insurance Free Essay Samples & Outline
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Sample Essay On Health Insurance
Health insurance can be described as insurance that is often against the risk of incurring medical expenses amongst different persons. In the case of the 50 employees, I would definitely go for the group health insurance. The Group health insurance can be described as an employer sponsored insurance that covers for small businesses. Group Health Insurance is affordable and coverage includes the employees and their family members (Peterson, 2010). This insurance plan is important and has been used by many small businesses when it comes to hiring as well as retaining the best works. The insurance company that one wishes to join when it comes to group health insurance estimates the costs based on the risk factors of the employees and their nature of work.
They then go forward and give a final monthly cost for the group health insurance plan once they have assessed everything. It is important to understand that because the company has fifty employees, the company is eligible for this plan and can therefore, be able to provide the workers with a good and reliable insurance plan. Therefore, the Group Health insurance plan is the best insurance plan for the company that has 50 employees, this is because the company can be able to pay the payments comfortably and the plan is reliable and efficient.
The Affordable Health Care Act also referred to as Obama Care states that for a company that has fifty employees or more, there is a need for the company to offer health insurance to the workers. Therefore, the company is obligated by law to have an insurance plan for its employees and this is not just a matter of choice of whether the company wants to or not (Peterson, 2010). The Affordable Health Care Act, has been instrumental when it comes the development of health insurance amongst employees and ensuring that employees get quality and affordable health care act.
Therefore, the Group Health Insurance will be important and will ensure that indeed the workers are given the relevant insurance that is stipulated in the Affordable Health Care Act at a reduced cost.
The first advantage of purchasing insurance for employees is that one can be able to hire and retain employees because of a great insurance policy. Another advantage is that the employees can pay for the health insurance by working extra hours or even at times by being more productive (Peterson, 2010). The main disadvantage of purchasing health insurance for the employees can be the fact that company might incur losses by trying to retain the employees by having an attractive insurance plan. Another disadvantage, is that government insurance is cheaper than employer purchased insurance.
The main advantage of employees receiving governmental insurance is that it is cheaper and therefore, more affordable. Secondly, another advantage of governmental insurance as opposed to employer purchased insurance is that it does not elapse once one is fired. The main disadvantage is that there is often a lot of bureaucracy when it comes to governmental insurance. In order for one to get a claim, it often takes a long process and consequently most people often avoid the governmental insurance.
Secondly, it is important to understand that another main disadvantage of employees receiving governmental insurance is the fact that it is not as attractive as compared to governmental insurance. Therefore, there are several advantages and disadvantages associated with each of the methods. Therefore, there is a need for the employer to better understand the best insurance plan in order to choose and give the employees the best offer.
Peterson., K (2010) Health Insurance: Group Health Insurance and why it matters. Journal of HealthCare.
Melnyk, Bernadette M, and Ellen Fineout-Overholt (2011). Evidence-based Practice in Nursing & Healthcare: A Guide to Best Practice. Philadelphia: Wolters Kluwer/Lippincott Williams & Wilkins.