Group Benefit

Including group benefits with your company’s compensation packages can help you attract and retain top talent. A group benefits plan aims to provide access to crucial healthcare and financial tools to reduce out-of-pocket medical costs and provide employees with the opportunity to work toward financial stability.  

The benefits experts at Dorsey & Associates can help your company tailor a benefits package to add value to your compensation plans.  

What Are Group Benefits? 
Group benefits are offered and maintained by a company to provide employees with access to crucial benefits such as healthcare coverage and life insurance. Companies can purchase group benefits from an insurance company and offer these employees, often for much less than their workers would pay for individual benefits.  

How Do Group Benefits Work? 
Group benefits provide access to a single policy for employees or members of an organization and their dependents. Insurers may require 70% buy-in from the group to issue the policy. Employers may pay a portion of their employees’ premiums for group coverage, reducing workers’ costs. Workers are free to decline coverage.  

For example, group health plan participants may get coverage at a lower cost than they would on their own because the insurer’s risk is spread throughout the group of policyholders.  

Major Types of Group Benefits 
Dorsey & Associates can help your business purchase the following group benefits: 

• Health insurance
• Disability insurance
• Life insurance
• Dental and vision care
• Accidental death coverage
• Retiree health coverage
• Leave management
• Small business retirement plans
• Employer-sponsored retirement plans