Group health insurance is one of the most valuable benefits an employer can offer. Yet most people only find out what it actually covers when they need it.
1. It has a limit. Every group plan caps what it pays per claim or per year, and often there is a share you pay yourself. A serious hospital stay can go beyond it. You will find the numbers in the table of benefits, available from HR.
2. It lasts as long as the job. Changing jobs, retiring or a change of plan at the company usually means the cover ends. If a health issue has come up in the meantime, a new individual policy may exclude it.
3. It complements an individual plan rather than replacing it. An individual plan with a deductible can start where the group plan stops. You don’t pay twice for the same thing, and your cover follows you wherever you work.
Did you know… health and life premiums your employer pays for you are not taxed as your income, up to €1,500 a year? (Article 14(1)(ια) of Law 4172/2013)
Do you know the limit of your own group plan?