Group health insurance is insurance that covers medical and hospital costs for groups of people, such as employees of a company or members of an association. It is usually provided by employers to their employees as part of their employment package.

Group health insurance is beneficial for both employers and employees. For employers, it helps to attract and retain quality employees, as it is a part of the overall benefits package. This can also help to improve morale and productivity in the workplace. For employees, group health insurance helps to ensure access to medical care and to lower out-of-pocket medical costs. In addition, it can provide a financial safety net in case of a medical emergency.

Overall, group health insurance is an important benefit for both employers and employees. It helps to ensure access to quality healthcare, as well as to lower out-of-pocket costs. This type of insurance is beneficial for both parties, and it is important to understand what it covers and how it works.

If you’re an employer offering group health insurance to your workforce, you might be eligible for a federal tax credit. This credit can be up to 50% of what you pay in. Providing insurance for your employees and their dependents can be expensive, but tax breaks can help.