What are Group Benefits?
Health group benefits are a type of insurance coverage provided to employees within an organization, typically offered by employers as part of their compensation package. These benefits can include a wide range of services such as medical care, dental care, vision care, prescription drugs, mental health services, and sometimes even wellness programs and preventive care.
Risk Pooling:
Insurance risk is spread among a large group, leading to more comprehensive coverage options and lower premiums.
Financial Protection:
Provides financial protection against medical expenses.
Cost Efficiency:
Offers better rates and coverage terms compared to individual policies.