Group Insurance

It is a plan in which individual employees or members are included under one ‘master policy’ owned by their employer. This plan is often provided for a lower cost than a private health plan, often providing more benefits. Examples of benefits include products and services such as wellness, pharmaceutical, dental, extended health benefits, disability insurance, life insurance, Cost Plus, and Health Spending Accounts.

Group Insurance may be provided by organizations such as for-profit companies, small businesses, labor unions, and professional associations.

Why would a business owner participate in a group health plan for their employees?

• Attracts and retains employees, which helps minimize costs associated with high turnover;
• Provides the owner, the employee and/or dependent with guaranteed health insurance for existing medical conditions;
• Access to insurance at a reduced cost, compared to most individual insurance plans;
• The premium is tax deductible as a business expense;
• Helps improve morale and increase productivity by providing financial security and support when the employees need it most;
• East Coast Care administers and manages the group health plan.