Group Benefits 101

Our team here at Independent Benefit Advisors want to help you get the right health care coverage for your needs, and that includes helping employers choose the right group benefits for their workers. In this article, we will provide a brief overview of what group benefits are and how they work in order to help you make the best choice for your business.

What are Group Benefits?

To put it simply, group benefits are a form of insurance that covers a group of individuals rather than just one. The most common groups to receive these benefits are the employees of the same company or professionals in the same field.

Types of Group Benefits

There are multiple types of group benefits, and we will cover the main ones here:

• Group Health Insurance – This type of group benefits covers the group’s medical costs. In general, this coverage is purchased by the employer and offered to eligible employees and their families.
• Group Dental/Vision Insurance – Many employers also offer group benefits for dental and vision care. Both are important parts of overall health care, so offering this coverage is a good way to attract talented employees.
• Group Disability Insurance – This type of coverage provides regular income replacement payments for members of the insurance group who become disabled as a result of an illness or injury.
• Group Life Insurance – A fourth common type of group benefits is group life insurance coverage, which is designed to provide funds to an individual’s surviving family members in the event of their sudden passing.