Group Health Insurance
Health insurance coverage offered by an employer or organization that provides medical benefits to employees and often their dependents
Detailed Explanation
This employer-sponsored benefit helps employees pay for healthcare services while potentially offering lower premiums through group rates and tax advantages.
Practical Example
A technology company offers group health insurance to all full-time employees, covering 80% of their medical costs while employees pay the remaining 20% through premiums, deductibles, and copays.
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