Group Benefits Insurance
When your people are healthy, your company is healthy; it’s just common sense. With group benefits insurance through PolicyApe, you can make sure your employees are well cared for—at a price that won’t bankrupt your business. Group benefits packages differ from carrier to carrier. PolicyApe will assess your company’s needs and match you with the perfect group policy and provider.
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What is Group Benefits Insurance?
Group benefits insurance is a bundle of policies that employers purchase to provide coverage for their employees. Typically, group insurance includes things like health, dental, vision, and sometimes life and disability insurance. Employees can opt in or out of the group policies they’re offered, and the cost of the premiums will be split between the company and the worker.
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What does group benefits insurance cover?
The most common components of a group benefits insurance policy are healthcare, dental, vision, life, and long-term disability insurance. Depending on what benefits package you choose, your bundle may include extras like supplemental medical insurance or even pet insurance.
HEALTHCARE
Most businesses are required by law to provide medical insurance options for their employees. No matter what size your company is, we’ll match you with a package that provides comprehensive care at a cost you can afford.
VISION AND DENTAL
Eyes and teeth are parts of the body, but they’re not covered by traditional medical insurance. Group benefits insurance lets you offer total protection to your employees in one coverage package.
LIFE INSURANCE
Your employees are your family—it’s only natural that you want to make sure their loved ones are cared for, too. Life insurance is something no one wants to worry about, and with a group benefits plan, your employees don’t have to.
DISABILITY INSURANCE
Every business wants to take care of their people, but not every business can afford to keep paying salaries when employees become unable to work. Disability insurance pays the employee a percentage of their pre-disability income so they can stay afloat.
SUPPLEMENTAL INSURANCE
Health emergencies are expensive, and not just because of the medical bills. Supplemental health insurance covers extras like the cost of travel and lodging if you need to seek specialized care away from home.
PET INSURANCE
Any pet owner knows that our furry friends are family, too. Some group benefits plans include pet insurance options, so employees can afford routine and emergency care for their pets.
Who is group benefits insurance for?
LARGE CORPORATIONS
Every employee has their own insurance needs, so when your workforce is made up of hundreds of people, you need a provider that can offer flexible, customizable coverage.
LARGE CORPORATIONS
Every employee has their own insurance needs, so when your workforce is made up of hundreds of people, you need a provider that can offer flexible, customizable coverage.
SMALL BUSINESSES
Every cent counts when you’re a small business owner, but you shouldn’t have to pinch pennies when it comes to employee benefits. PolicyApe can help you find a provider that offers the perfect balance between coverage and affordability.
SMALL BUSINESSES
Every cent counts when you’re a small business owner, but you shouldn’t have to pinch pennies when it comes to employee benefits. PolicyApe can help you find a provider that offers the perfect balance between coverage and affordability.
LABOR UNIONS
Especially in industries where employment without benefits is common, it’s even more important for unions to offer members the protection they aren’t able to get through work.
LABOR UNIONS
Especially in industries where employment without benefits is common, it’s even more important for unions to offer members the protection they aren’t able to get through work.
EVERYONE
The Affordable Care Act requires every business with at least 50 employees to offer group healthcare insurance. With group benefits insurance, you can avoid penalties and protect your people.
EVERYONE
The Affordable Care Act requires every business with at least 50 employees to offer group healthcare insurance. With group benefits insurance, you can avoid penalties and protect your people.
Frequently Asked Questions
If you own a business and have employees, you need group benefits insurance. You are only legally required to offer group healthcare if you have more than 50 employees, but in a competitive labor market, businesses need to offer benefits in order to attract top talent.
There are a few other organizations that may benefit from group benefits insurance as well. These are some of the groups that can qualify for group benefits insurance:
- Nonprofits
- Labor unions
- Professional associations
- Religious organizations
- Social and fraternal organizations
PolicyApe works with a variety of group benefits providers, many of which specialize in building affordable insurance packages for small business owners. We’ll work with you to put together a benefits package that ensures you’re only paying for what your business needs.
In most cases, your group benefits insurance package will include multiple healthcare plan options for your employees to choose from, each of which will cost a certain amount per month. The company will pay a portion of these premiums, and the employee will pay the rest. What percentage of the premium your business pays will depend on a number of factors, but in most states employers are required to pay at least 50% of the monthly cost. Many businesses choose to cover more in an effort to lighten their employees’ financial burden and to incentivize prospective employee candidates.
Yes. The premiums that a business pays for employee benefits are considered a business expense, and are therefore tax deductible.
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