Group Health Insurance

Group health insurance is essentially insurance provided to members of a group at a discounted rate by insurers. The insurers are able to provide this coverage at a discount because they’re taking on a pool of insureds that they can spread the risk out among. For many employers, group health insurance is perhaps the most important fringe benefit they offer.

There are many benefits to using a group health insurance plan over an individual plan or other types of insurance. Here are some of them to consider:

Pay less:  Group plans allow employees to pay a fraction of the cost they would if they were to obtain individual health care plans. In fact, companies that have two or more employees will benefit in this way, which is why many small businesses elect to offer health insurance to its employees.
Added benefit:  An employer that offers health insurance to his or her employees is more attractive than one that does not. In many businesses, high turnover rates are attributed to the lack of a good medical plan that helps pay for the rising costs of health care. To employees with families, it is necessary to have.
Better work ethic:  Employees who have good health care will work more and they are less likely to be ill or to miss work due to injuries. In many ways, giving them health care is an added benefit to staying healthy and at work on a regular basis.

 

Having good group health insurance helps bring employees through the door and keeps them.

 

Group Life Insurance

As an employer, you are aware of the importance of employee benefits and their contribution to your business success. Group life insurance is a type of life insurance in which a single contract covers an entire group of people. Typically, the policyowner is an employer and the policy covers the employees or members of the group. Group life insurance is often provided as part of a complete employee benefit package. In most cases, the cost of group coverage is far less than what the employees or members would pay for a similar amount of individual protection.

Group life insurance offers benefits to both the employer and employee:

Advantages to the Employer:

  • Federal income-tax deductible premiums.
  • Desirable fringe benefit to offer new employees.
  • Reduced turnover, saving your money in hiring and training costs.
  • Contributes to employee security, loyalty, and higher morale.
  • Valuable life insurance protection provided at a low group rate.

 

Advantages to the Employee:

  • Valuable life insurance protection provided at a low group rates.
  • Right to name and change beneficiaries at any time.

 

A member of the Paris International team can gather information about your business and your objectives for a group life or group health plan to help you determine if these options are right for your business.  Contact us.

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*Securities and advisory services offered through Commonwealth Financial Network®, www.FINRA.org / www.SIPC.org, a Registered Investment Adviser. Fixed insurance products and services offered through Paris International are separate and unrelated to Commonwealth. This communication is strictly intended for individuals residing in the states of AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY. No offers may be made or accepted from any resident outside these states due to various state requirements and registration requirements regarding investment products and services.

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