Group Benefit Quote Forms
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Group Benefit Information
As an employer, you want to attract and retain top talent. One way to do that is by offering group employee benefits. These benefits can give your employees financial security and demonstrate that you care about their well-being.
American Insurance & Investment Corporation is here to help you every step of the way when it comes to designing and managing your group employee benefits portfolio. Contact us today to learn more or to get a quote.
What Are Group Employee Benefits?
Group employee benefits are a set of benefits employers offer to their employees. These benefits can include health insurance, dental insurance, vision insurance, life insurance, disability insurance, retirement plans, and more. These benefits are typically offered to all employees or a specific group of employees, such as full-time or equivalent employees. There may be laws governing particular types of group benefits, so it’s best to work with an experienced agent who can help ensure your compliance.
How Do Group Benefits Work?
Employers typically work with an insurance agency, such as American Insurance & Investment Corporation, to purchase the group benefits plans they would like to extend to their employees. Then, employees can generally choose to enroll in these employer-sponsored benefits during an open enrollment period or, if they’ve experienced a qualifying life event per the IRS, a special enrollment period. If any cost sharing is passed to the employee, employee contributions can typically be arranged to be withdrawn from their paycheck automatically.
Types of Group Employee Benefits
Here are some common types of group employee benefits:
How to Choose Group Employee Benefits
- Health insurance—This is one of the most common group employee benefits. It provides employees with access to medical care, including doctor visits, hospital stays and prescription drugs. Certain employers are required by law to provide health insurance.
- Dental insurance—This benefit provides coverage for dental care, including check-ups, cleanings, and fillings.
- Vision insurance—This benefit provides coverage for eye care, including eye exams, glasses, and contacts.
- Life insurance—This benefit provides financial support to an employee’s family in the event of their death.
- Disability insurance—This benefit provides financial support to an employee if they cannot work due to an injury or illness.
- Retirement plans—This benefit provides employees with a way to save for retirement, such as a 401(k) or pension plan.
Choosing the right group employee benefits can be challenging. Here are some things to consider:
- Employee needs—Consider what your employees need and want regarding benefits. You can survey your employees to get a better understanding of their needs.
- Budget—Consider how much you can spend on benefits. Remember that offering benefits can help reduce turnover and save you money in the long run.
- Compliance—Ensure you offer benefits that comply with legal or regulatory requirements.
American Insurance & Investment Corporation is here to help you navigate your business’s employee benefits needs. We’ve served businesses in the Salt Lake City and Las Vegas area for over 75 years. In addition to helping you select the right benefits from your portfolio, we can help you with enrollment, claims management, and leave management. Contact us today to learn more.