What Is Group Medical, Dental and Vision Insurance?

Group Medical, Dental and Vision Insurance

The US government requires that all employers with over 50 employees provide health insurance. Even without a mandate, most businesses realize that offering benefits that include medical, dental and vision insurance is a good practice that attracts and retains applicants. Here is an explanation of one type of policy, group insurance.

Group Insurance

The group referred to in group insurance consists of an employer or administrative body and all the employees or members of an organization. Most policies are sponsored by businesses, but other groups such as the American Association of Retired Persons occasionally participate. The employer and employees split the cost of the premium, making it affordable for everyone involved.

Benefits of a Group Health Insurance Plan

Both employers and employees benefit from the low costs of group insurance. Other benefits include the following:

  • They allow the establishment of health maintenance organizations, which grant greater control over costs to the employer.
  • Those who want more freedom in their choice of doctors can choose preferred provider organizations.
  • Policies cover family members.

Offering group medical, dental and vision insurance is a popular option among employers. If you believe 70% or more of your organization would opt in, you should discuss with your insurance agent the possibility of using this type of plan.