Group Insurance / Group Benefits
It’s widely understood by businesses large and small the importance of their employees and with that said, ensuring employee satisfaction. In today’s competitive marketplace, combined with a shrinking workforce, recruiting qualified employees has become an increasingly challenging and costly. Offering the right benefits plan has become an excellent retention tool. A well structured and coordinated health benefits plan can mean better outcomes for employees and a simplified administration plan for the employer. In other words, everyone wins!
Group insurance benefits represent a substantial financial obligation to the employer while playing an important role, alongside government-sponsored benefit programs, in providing for the well-being of employees and their families.
The basic components of a group plan include the following:
Life coverage and dependents life coverage – Where the amount of coverage can be a fixed sum for all employees. Furthermore, multiples of the employees’ earning (e.g. 2X, 3X, etc.) chosen by the employer.
Extended Health Care – also referred to as drug plan including semi-private hospital care, prescription drugs and Vision Care
Dental Plan – It includes basic annual checkup, exam and regular dental services. Enhanced components such as Major dental surgery and optional orthodontic coverage.
Group Disability Benefits – Short & Long Term Disability