- Group health insurance, more commonly known as an employee benefit plan, is established and maintained by an employer or by an employee organization. The employer provides access to medical care for members and their dependents through a contractual relationship with a private insurance carrier.
- Group health insurance plans are designed to be more cost-effective for businesses. Premiums are typically less expensive than an individual health plan and include an employer contribution for the employee and/or dependents that can be in the form of a defined dollar amount or percentage. Premiums are payroll deducted, which allows the employee's premium portion to be tax-free. Employers pay lower payroll taxes and can deduct their annual contributions on their business tax returns.
- There are a variety of different plans and claim funding available to employers, depending on a company's size.
- The employer will pay for the employee's education to further their education in their present or future career.
- The education is legally required in order for the employee to keep his or her present salary, status or job.
- The education improves or maintains skills that are required in the employee's present employment.
- The education is required for the employee to meet the minimum qualifying educational requirements of his or her present trade or business or employment.
- The education qualifies the employee for a new trade or business.
The agent will explain the health insurance plan that their client is looking into.
Employers may sponsor wellness programs as a means to promote better health among employees, with the hope that helping employees to embrace a culture of health will lead to higher productivity with lower health-related costs. It costs:
- Tobacco cessation, exercise, weight management, or other behavior modification programs.
- Health risk assessments.
- High blood pressure or cholesterol screenings.
- Health education.
- Subsidized health club memberships.