What Are The Advantages Of A Group Plan To The Employee?
Free Insurance Quote Comparison
Secured with SHA-256 Encryption
UPDATED: Sep 15, 2020
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
The employer usually pays some or all of the cost. For a noncontributory plan the coverage is a nontaxable benefit up to $50,000. Above $50,000, the IRS charges tax on “imputed income.”
Because many people are getting their coverage under one policy, the per employee cost tends to be low and the underwriting minimal.
You do not have to write checks to pay the premiums. If you contribute to the cost, it will usually be deducted from your pay.