What Is Group Benefits?

Group benefits insurance is a type of insurance policy that employers offer to their employees as part of their overall benefits package. This insurance provides coverage for medical, dental, and other health-related expenses for employees and their dependents.

Here are some examples of why an employer may offer group benefits insurance:

• Attract and retain employees: Group benefits insurance can be a valuable tool for employers to attract and retain talented employees by offering competitive benefits packages.
• Cost savings: Group benefits insurance can provide cost savings for employers by leveraging the purchasing power of a group to negotiate lower premiums and better coverage.
• Tax benefits: Group benefits insurance can provide tax benefits for employers, as premiums paid for group benefits insurance are tax-deductible as a business expense.
• Increased productivity: Group benefits insurance can help keep employees healthy and productive by providing access to preventative care, reducing the number of sick days, and improving employee morale.
• Legal compliance: In some cases, employers may be required by law to provide certain types of group benefits insurance, such as health insurance under the Affordable Care Act in the United States.

Overall, group benefits insurance is an important part of an employer's overall benefits package, providing employees with access to important health-related benefits and helping employers attract and retain talented employees. The type and amount of group benefits insurance offered will depend on the employer's budget, the size of the company, and the needs of the employees. Armour’s brokers can help you find the best coverage at the best price.

Contact us today for your free quote!