Why does it not make sense to make workers/employees buy their own insurance? Please answer this...

Why does it not make sense to make workers/employees buy their own insurance?

Please answer this for me with mutiple explanations! I need ideas to write an essay ! Thanks!

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Expert Solution

1. When a company or an employer buys insurance for all his employees, he gets a good group premium discount, which the employee in case would have applied for individually would not have got it. Thus the major reason for employees not buying ther medical policy is the cost of insurance.

2. No medical check up is required under group insurance and your name is included in the coverage list the moment you join the company.

3. Employees are free from the hassles of selecting the insuranc eplan and then prompt payment of insurance policy premiums.

4. In case of any problems or issue, the company can take care and handle the matter as it is booked through the company.

5. When a person buys an individual policy there are lot of hassles and terms and conditions whcih might be overlooked by an individual. In case of group policy all these terms have been finalised and negotiated already in the benefit of the employee.

jeff jeffy answered 1 year ago

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