Employee Insurance

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What is EPLI Insurance & Who Needs It?

Employment practices liability insurance by definition protects the employers and companies from potential losses and expenses in a case when an employee or a third party sues you for work-related incidents such as accidents, illness, or death.

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Mortgage Protection Insurance: Understanding the Basics

Mortgage protection insurance is a specially tailored policy geared towards safeguarding a homeowner and household budget by assisting with repaying the mortgage if the contract holder dies before paying it out in full. Applicants generally do not have to do a check-up or provide health background information to be considered eligible and be allowed to take […]

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COBRA Insurance: Extend the Group Plan When You Are Between Jobs

Employer’s Benefits: Extend Your Health Insurance Losing or leaving a job can be stressful, especially as the pandemic continues to affect unemployment rates in the United States. In April 2020, COVID-induced layoffs continued across the country, causing over 6 million citizens to look for coverage during the unemployment period. Career decisions often depend on the benefits employers […]

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Health Insurance: Ensures That Applicants are Financially Secured

Health insurance is an insurance product geared towards bearing the expenses of the applicant’s surgical, clinical, medication plan, and rarely dental treatment. It ensures that applicants are financially secured should they suffer from an illness or injury. This form of insurance has numerous plan categories and packages. Companies often offer it as a part of the […]

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Cal-COBRA vs. Federal COBRA: Principal Differences and How Each Program Works in CA

Did you decide to leave your job but keep worrying about losing your group health plan? Getting another position sometimes means dealing with a short waiting period. The good news is that you can remain on your employer-provided coverage under COBRA. California residents get to use two types of continuation coverage: the federal version of […]

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Continuation Coverage Explained: Understanding the Duration of COBRA Coverage and Its Peculiarities

Fear of losing a job goes hand in hand with the fear of losing health coverage. But there is no need to worry — COBRA has got you covered. It is no secret that all former employees have to qualify for this continuation option. Even so, it remains an excellent alternative that can help you […]

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Extending Your Health Coverage: How to Get COBRA Health Insurance After Quitting Your Job

Getting fired can take you by surprise, but making a decision to quit implies having a plan in place.  It is no secret that both of these options require dealing with health insurance continuation. Without it, severe disease or a bad accident can cost you a pretty penny. And even a minor health issue is […]

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How Does Disability Insurance Work

Most people will face a serious illness of some sort during their life. Some illnesses may be temporary and overcome with treatment, such as cancer that is treatable with radiation. Some conditions may be chronic and incurable, such as multiple sclerosis that affects the ability to perform daily living activities. Because the likelihood of having […]

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As an Employer Do You Know How to Manage an Employee Going on a Disability Claim?

If an employee is going off on disability due to mental illness, Carmen Bellows, a SunLife Health Consultant for Group Disability, stated, “to break down silos and forge relationships with everyone providing care is important to avoid confusion and progress in getting someone back to work.” As insurers, income replacement is essential to minimize the […]

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What Is Employee Insurance?

Employee insurance can safeguard workers against on-site injuries, reduce financial uncertainty, and help manage possible adversities. As the compensation packages are becoming more complex, employee insurance can include multiple types of benefits, from medical insurance to retirement benefits to profit-sharing to stock options.

As a job seeker, it would only be wise to factor employee insurance in your evaluation of different job offers. As an employer or business owner, you might be interested to stand out from the crowd by providing the most competitive employer insurance package.

What Does Employee Insurance Cover?

Employee insurance includes workers’ compensation insurance (required by law in most U.S. states) and disability insurance. The former covers costs of on-site injuries or illnesses; the latter can be short-term and long-term:

Whereas almost all employers provide workers’ compensation insurance for it doesn’t cost them at all, only a part of them enables cost-effective disability insurance.

As for the employee benefits, some are mandated by law – minimum wage, overtime pay, leave benefits, extended medical benefits, and unemployment benefits – while some may be provided by the employer (health insurance, life insurance, dental insurance, vision insurance, sick days, paid holidays, etc.).

How Much Is Employee Insurance?

The monthly premium depends on the type of insurance, the benefits included, and whether the insurance is employer-contributory or voluntary. In the former case, the employer can cover up to 100% of the premiums; in the latter case, the employer covers up to 49% of the premiums. In 2020, employers covered around 75% of premiums, whereas the average cost of health coverage for a person was about $5,000.