What is Employee Group Benefits?
Employee Group Benefits is an employment package that includes all the non-wage benefits, like insurance and paid time off, provided by an employer to each employee.
Employee benefits are non-salary compensations, that can vary from company to company, which are indirect and non-cash payments within a compensation package. They are provided by organizations in addition to salary to create a competitive package for existing and new employees.
In addition to benefits required by law, other benefits are provided by companies because they feel socially responsible to their employees and opt to offer them more than is required by law.
Depending on the company, these benefits may include health insurance (required to be offered by larger companies), dental insurance, vision care, life insurance, paid vacation leave, personal leave, sick leave, child care, fitness, a retirement plan, and other optional benefits offered to employees and their families.
Most employers present staff with group medical insurance plans to assist workers with health care costs.
Most plans provide coverage for visits to primary care physicians and specialists, hospitalization, and emergency care. Alternative medical care, wellness, prescription, vision, and dental care coverage will vary by the plan and employer.
Whether you are job searching, deciding on a job offer, or happily employed, it's important to review what benefit coverage is provided by the company and to decide whether the employee benefits package is one that fully meets your needs. It's also important to take full advantage of what the company provides to employees.
MIP is knowledgable and experienced in negotiating with insurance companies for the best employee benefits package on your behalf.
Contact Us Today to see how your existing employee group benefits package compares in the market.