What is the name of the contract issued to an employer for a Group Medical Insurance Plan?

The contract issued to an employer for a Group Medical Insurance Plan is referred to as a master policy. This document is essential because it outlines the terms and conditions of the insurance coverage provided to a group, which typically consists of employees. Unlike individual policies that are tailored for single policyholders, a master policy is designed to cover a group of people under a single agreement, streamlining administration and providing uniform coverage for all participants.

The master policy serves as the primary agreement that describes the rights and obligations of both the insurer and the employer. It generally includes details about coverage limits, benefits, premiums, and other important aspects of the insurance plan.

In contrast, individual policies pertain to personal insurance contracts held by single policyholders, and supplemental policies provide additional coverage beyond the primary policy. Comprehensive policies often refer to policies that provide extensive coverage in various areas but do not specifically address the context of a group medical insurance plan issued to an employer. Understanding these distinctions is key to grasping how group insurance functions within the broader context of health insurance.