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What is Group Health Insurance?
Group health insurance is a single policy issued to a group of people, offering uniform healthcare benefits to all members. In most cases, these policies are purchased by employers and offered to eligible employees and their families as part of an employee benefits package. Enrolling in group health insurance generally costs participants less than what they would pay for an individual healthcare policy for two main reasons:
- The risk is spread over the whole group, as opposed to just one individual.
- Many employers pay a portion of employees’ premiums.