What Is Group Health Insurance and How Does It Work?
Group health insurance is one of the most valuable employee benefits offered by Oklahoma businesses. It provides health coverage to employees—and often their families—at reduced costs compared to individual plans. But how exactly does it work?
What Group Health Insurance Covers
Typical plans include preventive care, hospitalizations, prescription drugs, and wellness benefits. Employers share premium costs with employees, making coverage more affordable.
Employer vs. Employee Contributions
In Oklahoma, many employers pay 50–75% of premiums. Employees contribute the rest through payroll deductions. Family coverage may cost more, but still benefits from group pricing.
Plan Types
- HMO: Lower cost, smaller provider networks.
- PPO: More flexibility, higher premiums.
- Level-funded: Hybrid option with predictable costs and refunds for low claims.
Why Employers Offer Group Coverage
- Attract and retain talent
- Increase employee satisfaction
- Boost productivity
- Meet ACA compliance (for 50+ employees)
Anchor’s Role
Anchor Financial Group helps Oklahoma employers design cost-effective group plans that balance employee needs with company budgets.
Group health insurance keeps employees healthy and businesses competitive. Anchor makes it simple.