A group health insurance policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More is a type of policyAn insurance policy is a legally binding contract between an insurance company (insurer) and an individual or business (policyholder). It More that provides health coverage to a group of people. There is no law in the country which makes it mandatory for the employer to offer Group Health Insurance.