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GROUP BENEFITS

Group benefits typically refer to insurance, retirement plans, and other perks provided by employers to their employees as part of their compensation package. These benefits are designed to attract and retain talent, as well as to provide financial security and support for employees and their families. Some common group benefits include:

  1. Health Insurance: This typically includes medical, dental, and vision coverage, which helps employees afford healthcare services and treatments.

  2. Retirement Plans: Such as 401(k) or pension plans, which allow employees to save for retirement with contributions from both the employer and the employee.

  3. Life Insurance: Provides financial protection to employees’ families in case of the employee’s death.

  4. Disability Insurance: Offers income replacement if an employee is unable to work due to illness or injury.

  5. Paid Time Off (PTO): Including vacation days, sick leave, and holidays, which give employees time away from work while still receiving pay.

  6. Flexible Spending Accounts (FSAs): Allow employees to set aside pre-tax dollars for eligible medical expenses or dependent care expenses.

  7. Wellness Programs: Such as gym memberships, wellness coaching, or incentives for healthy behaviors, to promote employees’ physical and mental well-being.

  8. Employee Assistance Programs (EAPs): Offer counseling and support services for employees facing personal or work-related challenges.