Health insurance is a type of insurance policy that offers financial aid to people and their families against huge medical expenses incurred due to illness or injury. Policy owners are required to make periodic fixed payments to health insurance provider, known as the premium, in order to secure continued insurance coverage.
Health insurance plans are usually categorized as individual and group health insurance plans. Most employers offer group health insurance plans in California to their workers, as it is mandatory by law. Group health insurance plans are considerably cheaper than individual ones as a single policy covers a number of people. Premium for these group health insurance plans is borne by employers as a part of their employee benefits program. Employers opt for a higher deductible that makes group insurance schemes a feasible proposition. Most companies conduct periodic medical check ups for their employees to ensure good health.
COBRA, which stands for Consolidated Omnibus Budget Reconciliation Act is a group insurance plan that is preferred by many employees. Californian laws apply this Act in the state in the form of Cal-COBRA. It is mandatory for two to nineteen employees to be covered on at least fifty percent of the working days under this plan. This plan allows employees to contribute to a health insurance plan that covers them and their families even after they may have discontinued to earn. This is more expensive than the usual plan and employer makes no contribution to the plan.
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Certain specially designed health insurance options are available for low-income groups, as they usually find cost of health care much beyond their means. Medicaid, which is a joint Federal-State health insurance program managed by State governments, has certain programs that offer insurance options to low income groups. Medicaid may cover other low-income groups such as children and pregnant women, and also people with disabilities.
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