Group benefits are different from individual insurance plans because an employee is essentially able to buy a policy in bulk that applies to an entire group.
These plans take into consideration the best interest of your employees with a plan that applies to all of them, rather than just one person’s needs as it would in an individual plan.
What are the benefits of group coverage?Employees benefit from group coverage because it is often provided at little to no cost to them, and employees may be able to cost-share with their employers.
Employees also do not need to undergo tests or other considerations to qualify for this type of insurance which is incredibly useful if it is difficult for you to find coverage otherwise.
These factors contribute to overall group morale, and even boost productivity!
In addition to the benefits group coverage provides to your employees, it’s also very useful to you as a business owner.
Group benefits help foster employee retention, and they’re often a significant draw during the hiring process. Your employees are valuable to you and ensuring they have proper health, dental, and vision coverage helps protect your investment when they’re sick or injured.
What do group benefits cover in Salt Lake City?Individuals who have group benefits coverage are still encouraged to have individual insurance policies, but group benefits provide excellent supplemental coverage. If your own benefits run out when your claim limits are reached, group benefits can be very useful.
They also provide a base level of coverage and can include:
- Health Insurance
- Dental Insurance
- Vision coverage
- Life and accident
- Leave management
- Health Savings Accounts
To find a group benefits plans that suits the needs and budget of your business, contact Salt Lake City Insurance today!