Group and employee benefits are something that most companies in the United States are accustomed to offering.
Your employees play an important role in your company’s success, and a comprehensive group benefits plan is an easy way for you to give back to them.
Group health benefits can include a variety of insurance coverages, such as standard health, dental, vision, death, disability, critical illness, and more. What you offer will depend on what types of premiums you want to pay, how much you want to charge your employees for access to the policy, and other factors.
Health insurance covers the vast majority of medical expenses. With proper health insurance coverage, your employees don’t need to worry about affording the medical treatments they need.
Health insurance covers most medical procedures and equipment, including doctor’s visits, prescription drugs, and surgeries.
It will not cover procedures that are deemed unnecessary for the individual, such as plastic surgery. Dental and vision plans will need to be procured separately, as most health insurance plans do not cover these two areas of health.
Many health plans come with payment caps; that is, they only pay up to a certain percentage (usually from 70% to 100%). Plans can also offer variable coverage where certain portions are covered up to an amount. It’s important to look for the right amount of coverage for your employees.
Group health insurance is a health insurance plan that covers multiple individuals at once. These individuals will typically be part of the same group, such as a business or university.
Group health insurance is, on average, a better deal than individual health insurance. As an employer, you can cover all your employees’ medical liabilities in one convenient plan at a cost-effective rate.
Employees benefit from participating in group health insurance as their premiums aren’t as high. Thanks to the Affordable Care Act, health insurance is mandatory for everyone, and group health insurance is one of the most affordable options.
For employers, offering group health makes your business look more attractive to potential employees, who will likely choose your business for its superior benefits.
Taylor Benefits Insurance Agency provides group and employee benefit plans for the following:
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