Group Health Insurance

Large organizations often allow you to join a discounted or subsidized group insurance, that can lower the monthly health insurance expenses.

The main advantage to group health care is, in my opinion, the ability to join without a health declaration. This allows people with preexisting conditions or a problematic medical history to join the insurance without exclusions.

It is important of course to review the full policy terms, and pay special attention to the bolded exclusion clauses. Often there is a one-year qualifying period, or no coverage for preexisting medical problems, but it is still a good choice.

Characteristics of Group Insurance

In my experience, the group insurance coverage is a bit low in regards to medications that aren't included in the government healthcare basket, and usually includes a relatively low amount compared to the private coverage on the market. It also doesn't include coverage for genomic tests, which can amount ot up to 50,000NIS per test.

On the other hand, because it is a large organization both statistically and facturally the percentage of successfully paid claims is higher in group insurances than in private insurances.

Sometimes, the group ambulatory care appendix will offer a wider coverage.

When I meet with clients I usually recommend a combination of group health insurance alongside coverage for medications that aren't included in the healthcare basket, genomic testing, coverage in an event of discovery of a serious illness and rapid diagnosis. The last two rarely exist (or don't exist at all) in group health insurance policies.

On May 1st a new health reform was presented. The reform was marketed as beneficial to the public,while in fact it will contribute to the price increase and prohibit the possibility or purchasing extended dual coverage i.e. for medications.

I strongly recommend meeting with your insurance agent and ensuring your insurance coverages are sufficient and relevant.

A word about life insurance –

Life insurance is also available for a reduced fee, especially for smokers, older people and people with a problematic medical history.

A word about dental insurance –

Some organizations allow group dental insurance coverage at an afforadable rate. As far as I know, this is the only viable option in the market, although I've recently heard about someone offering dental insurance at an affordable rate.

And for the promised tip 😊

What about people who don't work at large, profitable organizations? What can they do? What if I have a problematic medical history and the insurance won't accept me?

What if I'm not a member of the IDF Disabled Veterans Organization (one of the only organizations to offer discounted long-term care group insurance for the entire family)? What if I can't join via the IDF, IAI or IMI?

I've got a solution for you!

Have you heard about the Histadrut 'BeYachad Bishvilcha' club?

Histadrut members who pay membership fees for two years receive pretty good insurance coverage via Menorah, without a health declaration (see policy conditions).

Have you heard about Ofek Financial Cooperative?

Any member of Ofek can join a group insurance with a relatively short and simplified health declaration.

Check what organizations you are part of, or which organization you can join, and if it's beneficial for you.

Of course, it is always best to consult with a reliable, professional insurance agent who will make the right recommendations for you and your family.