Employee Benefit Insurance Plan

What Does Employee Benefit Insurance Plan Mean?

An employee benefit insurance plan refers to insurance provided by employers to their current employees through a group insurance program. This type of plan not only offers coverage for various risks but also serves as a tool for attracting and retaining talent within the company.

Insuranceopedia Explains Employee Benefit Insurance Plan

An employee benefit insurance plan typically includes a basic coverage package that consists of medical health insurance, group term life insurance, a prescription drug plan, and accidental death and dismemberment policies. Some companies may offer a more comprehensive package that includes additional benefits such as dental and vision plans, short- and long-term disability insurance, and retirement plans.