What does it mean when a company will contribute 50% of single health insurance coverage?

Question

What sort of co-pay does that amount to? Does this suck?

Answer 1

easiest way to explain it is the dollar for dollar scheme, what you put in they will match it.

It is good beats paying the whole lot yourself

Answer 2

They will pay 50% of the premium for single coverage. You will have to pay the difference for any dependants you may have (i.e. spouse, children) So if you are applying for single coverage that costs $400/month you will only have to pay $200.

You will be responsible for your copay, deductibles etc. The 50% is just covering your monthly premium.

Answer 3

It's a tricky situation - they'll only pay 50% of your premimum so that's make your contribution from paycheck a chunk.

Say for instance the plan the company uses the premimum is $450 for single - so your portion will be $225 paid out over the month/per pay check for that month.

Usually companies pay 80/20(your portion), but with the economy the way it is more and more companies are putting the healthcare cost on the employee.

Answer 4

It usually means they will pay 1/2 the premium for you as a single person. You would have to pick up the other half as well as the premium of additional family members. Usually you would pay this out of payroll deductions.

Co-pays and the like are based on the terms of the health plan for which the premiums are being discussed.

Answer 5

hello,

if you want read something about health insurance coverage

i just come accross this blog which may help you:-