Group Benefits in Albany, CA
As an employer, your staff may value compensation methods beyond their direct wages or salary in the form of group benefits. Furthermore, your company may reap many direct and indirect benefits by providing its employees with ample means to maintain their health and wellness.
With these goals in mind, understanding and offering ideal group benefits should be a top priority.
What Is the Purpose of Group Benefits?
Group benefits can be a core pillar of your organization’s company culture and contribute significantly to its compensation packages. The various types of insurance and initiatives included may provide employees access to health care, financial support and resources to maintain their overall well-being.
Typical offerings within a group benefits package may include the following:
- Health insurance
- Dental insurance
- Vision insurance
- Life insurance
- Disability insurance
- Wellness programs
Why Are Health Insurance and Group Benefits So Important to Employees?
Adequate health insurance and ample employee benefits make up critical parts of modern employment agreements. Studies have shown that many employees may value ideal benefits packages more than a greater direct salary.
Given the rising cost of health care in the United States, it should be no surprise that many of your workers may prioritize access to an attractive group health insurance plan.
The lower premiums employees may be able to access through an employer-sponsored policy may also have direct financial benefits, therefore indirectly assisting them in other facets of their lives.
How Does Employee Health Insurance Work?
Employer-sponsored health insurance plans typically combine the risk of all policyholders, allowing carriers to offer lower total costs to members who opt in for coverage. To be eligible to join a group health insurance plan, employees must typically be on your company’s payroll.
As such, temporary workers or those on unpaid leave may need to seek coverage elsewhere. Generally, a minimum percentage of eligible members must choose to join a plan for it to remain active.
We’re Here to Help
At Freeman Insurance Services, Inc., we proudly serve employers in the Albany, California, area and will work tirelessly to help you understand your options and assemble an optimal group benefits portfolio. Contact us today to learn more.