What Are Group Benefits Cover?

by | Jul 14, 2022 | Uncategorized

Group benefits may include things such as dental insurance, health insurance, and vision insurance. This kind of insurance get usually provided by an employer and could be a great option to gain additional security for your family and yourself.

How Do Group Benefit Plans Work, and What Do They Provide?

Group benefits are insurance plans that provide security to groups of individuals. Most often, these benefits get supplied by an employer. They could include dental insurance, health insurance as well as vision insurance. Benefits of delivering your employee’s benefits include

  • lower rates of employee turnover
  • improved satisfaction at work
  • higher ability to attract the best talent
  • a chance to set your business apart from the competition
  • An increase in employee morale leads to improved job performance.

What Is Typically Covered by Employee Benefits?

A typical health insurance plan for a group includes between 50 and 100% of the premiums the business pays, with the balance get covered by employees. For example, there are usually different categories for managers, owners, and full-time employees. It also includes prescription drug, dental and vision-related costs. It could offer additional coverages like life insurance, accident-related death or dismemberment, and long-term disability.

Things to Look for When Selecting a Group Plan

If you’re on the hunt, here are some ideas to consider

  • Does the plan include everything you need, and is it adaptable?
  • Does it offer short- and long-term disability coverage, which could provide employees with an income replacement if they are disabled?
  • Are there resources available to help staff members navigate the healthcare system?
  • Does it offer family and employee assistance programs to help employees deal with stress and maintain a work-life balance?
  • Does the plan have a portability clause so employees can carry it when they quit?

If you’re looking for group benefits quotes, contact Ottawa Life Insurance at (613) 454-1424 or email at info@ottawa-lifeinsurance.ca. We’d love to assist you!