Group Benefits

For many people group insurance is their principle, if not their only, source of life & health, disability and retirement insurance and benefits. According to a recent report published by the Kaiser Family Foundation (KFF), about 49% of the country’s total population receives employer sponsored health insurance. Group insurance represents the fastest growing portion of life & health, disability, and retirement insurance & benefits sales. 

To be eligible, an employee must be in a covered classification of workers, work on a full-time basis, and be actively at work. In a typical group insurance plan, a benefit schedule defines the classes of employees that are eligible for coverage and specifies the type of insurance that will be provided to the members of each class. Generally, contributions by the employer for an employee’s insurance coverage and benefits are tax deductible for the employer. Additionally, employer contributions result in no tax liability for employees!

Your group benefits package could be the deciding factor in recruiting & retaining top talent! Benefits and workplace inclusivity have proven to have more impact on recruitment and retention than superficial perks. Employer sponsored insurance programs and group benefits should support the company’s overall human resources and recruitment strategy.