Employee insurance benefit
These are programs initiated by employers to their employees to offer them valuable tools, services and resources to let them manage their health effectively. This helps to keep employees happy and healthy.
The programs cover various categories of illnesses, covers the whole family of the employee and others even cover retirees. Insurance programs in Canada also cover those that are unemployed or have lost their jobs. One is not entitled to receive Employment Insurance benefits while you are confined to a jail, penitentiary or other similar institution.
Insurance programs help individuals as well as companies to meet their needs by providing them with customized solutions. The employees can be in public or private institutions. The services can be accessed online and include:
- Medical plans and services
- Dental plans and programs
- Vision insurance
- Life insurance
- Disability insurance
- Pharmacy benefits
- Health expense funds
- Voluntary coverage
- Retiree health plans
In the US, the Federal Employees Health Benefits (FEHB) Program provides insurance for civilian government employees and annuitants of the United States government.
The government contributes 72% of the weighted average premium of all plans, not exceeding 75% of the premium for any one plan. This is calculated separately for individual and family coverage.