Who Does It Cover?
Overall, group insurance plans cover those in the group with the same benefits. With major insurance plans, the individuals generally get membership through payroll deductions from their work. Still, additional benefits are available to buy into. Family members are usually covered under the group, but the deductions will be higher.
Advantages to a Group Insurance Plan
Also, to try to extend your protection to your family will probably cost additional premium money under an individual plan, whereas this protection is often covered under your group policy.
Disadvantages to a Group Insurance Plan
If you are part of the group, you can only get the best rates and contract that the group gets. The chain is only as strong as its weakest link. In addition, with a group plan there may be more restrictions on the doctors you can see or the drugs you can get under the plan. With an individual plan, there will often be more flexibility in these matters.