Who is eligible for group medical insurance? You are eligible for group medical insurance if you own or are employed by a company that has at least two employees. Yes, two people is all it takes to get a group plan. Affordable Health Insurance Michigan When you have a company that has anywhere from 2-50 employees, the employees of that company can qualify for what is called a small business healthcare plan.

What is the difference between "group" plans and "individual" plans? Typically individual plans are more expensive than group plans, but there are other differences as well. Individual insurance may more difficult to obtain, the application process can be lengthy and your rates can increase unexpectedly. Group medical insurance has shorter, quicker applications, and you cannot be denied because of pre-existing conditions. Your rate is also guaranteed for at least one year. Another difference is that group medical insurance will be cancelled when you are no longer with your employer. With individual an individual plan, your policy will remain effective no matter if you are working or not, unless you stop paying your monthly premium.

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When does group insurance take effect? This will vary depending on what insurer you (if you are self-employed), your employer, or your group chooses. Some policies will take effect on the first day of the month following the month that your application is approved. With others, there can be a specific effective date that will determine when your policy becomes effective. So depending on the insurer and the date that your application is approved, it can take a few days or a few weeks for your plan to take effect.