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Work sponsored health programs

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With the ever rising cost of health care, American's are finding it harder to afford any type of coverage at all.For years Federal and State policymakers have been looking for ways to make health insurance more affordable but have not come up with a great answer yet.The U.S. employer based health insurance market provides insurance coverage to almost two thirds of the American population under the age of 65.As an employer you can offer employees work sponsored health programs to cut down the costs for individuals and family members.Let's take a closer look at what work sponsored health programs are, who is eligible, and try to answer some other important questions.

What's so important about health insurance?
As an employer looking to hire, offering affordable health insurance as a fringe benefit can come in quite handy.Employment based health insurance is more likely to be less expensive for the employee than an individually purchased coverage and offers tax benefits to both the employer and the employee.The system of employer sponsored health insurance has provided Americans and their dependants with health coverage for a long period of time.And yet there are still some who choose not to participate in these programs.Those that choose not to, usually experience poorer health and die earlier than those who are insured.Health insurance is important, and you need to help your employees understand that.

What is a work sponsored health program and who is eligible?
An employer sponsored health program is coverage that pays a portion of the total costs for a medical bill or medical related expense.Doctor's visits, hospital visits or extended stay and prescription medicine all fall under this category.The employer will pay a portion (and sometimes all depending on your job) of the premium, the insurance covers most of the cost, and you pick up what's left.Employer sponsored health programs are offered as part of a benefits package to most if not all employers.I say most because they do have the right to turn you down if your medical history is extensively poor.There are usually requirements to employer sponsored health programs one of which might be, the number of hours you are required to work each week to qualify for the program.Most employer sponsored health programs require that you work full time (approximately 40 hours a week) in order to receive the program benefits.Some will however make adjustments for part time workers where they will pay some and you will make up the difference.

What are the different types of work sponsored health programs?
1. Health Maintenance Organizations more commonly known as HMOs.
These types of coverage plans are very common with companies.HMOs require that you see only specific doctors on their list of providers and that you primary physician is the only one who can decide if and when you need to see a specialist.

2. Preferred Provider Organizations or PPO. These types of health insurance programs require a monthly premium and also when you use medical services (like doctor's visits) require a co-payment and deductibles.Preferred Provider Organizations have a network of physicians to choose from and you can see any doctor within that network without getting authorization before hand.

3. Point of Service or POS program.This is a type of program that allows you to choose between HMOs, PPOs, and Indemnity coverage.

4. Indemnity Programs. With these programs you will pay a monthly premium along with a coinsurance and a yearly deductible.This is more commonly known as a "fee for service" program.

Employers can choose to offer one or a multitude of programs to their employees.Work sponsored health programs can really take the burden of employees and allow them to feel safe and comfortable if a medical problem arises with them or their family members.

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